With the level of regulatory clarity expected in the United States in the coming months, market analysts insist that investors not owning bitcoin (BTC) could become a liability in the future.
According to a research report from the Bitcoin technology and financial services firm New York Digital Investment Group (NYDIG), market participants have no excuses not to buy BTC now. NYDIG’s global research head, Greg Cipolaro, said the cryptocurrency is not just available through easy-to-access, well-regulated products like exchange-traded funds (ETFs) but is now becoming a “political imperative.”
Cipolaro explained that U.S. investors may have found it easy to dismiss or ignore BTC for several reasons over the past years, but continuing to do so would be at their financial peril. The leading cryptocurrency has outperformed every asset class and is up over 90% year to date.
Currently, most investors have zero portfolio allocation to BTC. Cipolaro said this has to change as investors must get off zero and make room for BTC in their bags. Given the level of positivity in the market, the top digital currency is bound to amass gains in the near term. At the time of writing, BTC was worth $82,200, keeping with its 4-year price cycle.
Following President Donald Trump’s win at the just-concluded U.S. elections, Republicans will take control of the White House and likely make up most of the Senate and other legislative arms. The crypto industry considers this consolidation of power by the Republican party as a favorable development due to the overdue request for clear regulations.
Major agencies and departments in the United States could witness significant changes soon as pro-crypto Republicans emerge as new heads and chief executives. Cipolaro disclosed that the Senate Banking Committee head, Sherrod Brown, is already out, and the Securities and Exchange Commission’s chief, Gary Gensler, will “almost certainly be out.”
Furthermore, individuals heading the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Treasury will be replaced with Republicans, leading to a new era where crypto is accepted into the mainstream financial system.
The post Not Owning Bitcoin Will Be a Liability in the Future: NYDIG Report appeared first on CryptoPotato.
According to a research report from the Bitcoin technology and financial services firm New York Digital Investment Group (NYDIG), market participants have no excuses not to buy BTC now. NYDIG’s global research head, Greg Cipolaro, said the cryptocurrency is not just available through easy-to-access, well-regulated products like exchange-traded funds (ETFs) but is now becoming a “political imperative.”
Investors to Get Off Zero BTC Allocations
Cipolaro explained that U.S. investors may have found it easy to dismiss or ignore BTC for several reasons over the past years, but continuing to do so would be at their financial peril. The leading cryptocurrency has outperformed every asset class and is up over 90% year to date.
Currently, most investors have zero portfolio allocation to BTC. Cipolaro said this has to change as investors must get off zero and make room for BTC in their bags. Given the level of positivity in the market, the top digital currency is bound to amass gains in the near term. At the time of writing, BTC was worth $82,200, keeping with its 4-year price cycle.
Next Steps for the U.S. Crypto Industry
Following President Donald Trump’s win at the just-concluded U.S. elections, Republicans will take control of the White House and likely make up most of the Senate and other legislative arms. The crypto industry considers this consolidation of power by the Republican party as a favorable development due to the overdue request for clear regulations.
Major agencies and departments in the United States could witness significant changes soon as pro-crypto Republicans emerge as new heads and chief executives. Cipolaro disclosed that the Senate Banking Committee head, Sherrod Brown, is already out, and the Securities and Exchange Commission’s chief, Gary Gensler, will “almost certainly be out.”
Furthermore, individuals heading the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Treasury will be replaced with Republicans, leading to a new era where crypto is accepted into the mainstream financial system.
The post Not Owning Bitcoin Will Be a Liability in the Future: NYDIG Report appeared first on CryptoPotato.
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