Bitcoin Boosted By Democratic Sweep?
Democrats taking control of Congress could push more mainstream money into Bitcoin, despite widespread fears the result is a blow to crypto, warns the CEO ofdeVere Group, one of the world's largest independent financial advisory organisations.
The comments from Nigel Green come as Bitcoin recovered from an overnight slide to trade back above $81,000 on Thursday, after Democrats won both the House and the Senate.
He says:
The result is also likely to stall the CLARITY Act, the bill designed to set out how crypto markets are policed in the US.
It passed the House last year but was blocked in the Senate by a single vote in September, and Democrats want stronger investor protections written in before anything passes.
Nigel Green says:
For now, the regulators appointed by President Trump stay in place and trading carries on as normal.
Bitcoin has had a tough year. It's still around 27% lower than 12 months ago, and the AI boom has drawn much of the retail interest elsewhere.
Nigel Green says:
He concludes:
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment