Analysts say the appointment of a future head of the US Securities and Exchange Commission (SEC) and Treasury Secretary in the Donald Trump administration after January 20, 2025 is important for the industry. Bernstein said hedge fund manager Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick have a high chance of becoming SEC chairman.
“Scott Bessent is favored in equity markets due to his better positioning on macroeconomic and fiscal stabilization issues, but Lutnick is considered a stronger Bitcoin bull. In any case, we expect that the chairmen of the SEC and Treasury will be those who support cryptocurrencies,” Bernstein said.
Another catalyst for bitcoin growth could be the decision to create a strategic reserve in bitcoins in the United States, analysts say.
“Institutions, corporates and retail investors are leading demand in this cycle. The next one will be led by sovereign wealth funds. Political winds of change favor candidates who favor deregulation of cryptocurrencies and oppose CBDC,” experts noted.
In addition, purchases of cryptocurrency by large companies such as MicroStrategy may affect the increase in the price of Bitcoin, analysts suggested. In their opinion, the implementation of all the above catalysts can lead not only to the growth of Bitcoin, but also to an increase in the capitalization of the entire cryptocurrency market.
Earlier, ARK Invest CEO Cathie Wood said that even in a conservative scenario, Bitcoin could reach $650,000 by 2030, but the first cryptocurrency is capable of more.
Source: Bits
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