QCP Capital: Cryptocurrency may eventually become a key part of the macroeconomy

PANews reported on November 20 that QCP Capital, a cryptocurrency investment firm in Singapore, said that cryptocurrencies may eventually become a key part of the macroeconomy. The options market for BlackRock's BTC ETF (IBIT) had a strong debut, with 73,000 contracts traded in the first hour on Tuesday, with a call-to-put ratio of 4.4:1. This activity has placed IBIT among the top 20 most active non-index options, highlighting the growing institutional confidence in BTC as a mainstream asset class. This market response may attract new investor groups and enable the implementation of diversified trading strategies, which can help reduce volatility and downside risk, and consolidate BTC's position in the mainstream market. Other BTC spot ETFs, such as the Grayscale BTC Trust (GBTC) and the Fidelity Wise Origin BTC Fund (FBTC), are also expected to launch options products soon. On the other hand, the selection of Trump's cabinet is attracting widespread attention, particularly those friendly to the cryptocurrency sector, such as Musk, who was chosen as the head of the newly established Department of Government Efficiency (DOGE), and Pete Hegseth, who was nominated as the Secretary of Defense. Hegseth is a strong advocate of the decentralized value of BTC and has even pledged to hold rather than sell his BTC holdings. With the Republicans securing control of the Senate, most of the nominees are expected to be easily confirmed. Trump plans to finalize his cabinet selections within a week of Thanksgiving. These selections indicate the alignment between the new administration and the growing influence of digital assets in policy and finance.