Digital asset trader predicts more friendly U.S. crypto regulatory environment
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Odaily Planet Daily Report: Auros Hong Kong Managing Director Le Shi said, "The dust has not yet settled on Trump's election victory, and given Trump's support for cryptocurrencies, a certain degree of upside is just a matter of time, which is what we are seeing now." Driven by strong demand for the US Bitcoin spot ETF and the Federal Reserve's interest rate cuts, Bitcoin has risen about 90% so far in 2024, hitting a new record after the US election, outperforming returns on investments like stocks and gold. Digital asset companies and executives invested heavily during the US election to support the candidate Trump, who was seen as favorable to their interests, as Noelle Acheson, author of "Crypto Is Macro Now," wrote: "Trump has promised regulatory support, and full support from the House and Senate greatly increases the likelihood of cryptocurrency legislation being passed."
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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