Bitcoin is becoming more significant in politics, especially after Donald Trump’s re-election, according to a recent report from NYDIG.
The financial firm shared a report via X released on November 11, arguing that Bitcoin is no longer just a financial asset but is becoming something that political leaders can’t ignore.
NYDIG’s global head of research, Greg Cipolaro, stated that Bitcoin is now “a political imperative” and warned that not owning it could soon be a “liability” for investors.
The report also looked at how Trump’s influence could affect U.S. government agencies that regulate Bitcoin, like the SEC, OCC, FDIC, and Treasury. With new leaders likely to take charge at these agencies, the report suggests that the government could ease rules that have made it harder for digital assets to grow.
Trump has shown support for Bitcoin, including a plan to create a U.S. Bitcoin reserve using forfeited Bitcoin from law enforcement actions. While there may be legal issues, this proposal signals a shift in how the U.S. might handle Bitcoin in the future.
Meanwhile, Trump’s interest in Bitcoin goes beyond just supporting it as an investment. He has also started selling NFTs and is planning to launch a new DeFi project called World Liberty Financial. This shows he’s fully backing the idea of digital assets, which could mean more support for Bitcoin and other cryptos in the future.
Moreover, Bitcoin has seen a huge price jump recently, hitting a new high of $87,000 earlier today. Even though more people are starting to invest in it, many still haven’t jumped on the Bitcoin train yet. Cipolaro pointed out that ignoring Bitcoin could soon be a financial mistake, as the asset becomes more central to the political and economic future.
The report also mentions that with Republicans now in control of key government agencies, there is hope for new laws and policies that could benefit the crypto world. However, the details of these changes will depend on who gets appointed to these positions.
Also Read: MicroStrategy Buys $2B More in Bitcoin at $74,463 per Coin
