Part 3/5:
Pompano argues that the election of Donald Trump, known for his pro-business and pro-investor stance, has fueled this Bitcoin rally. Investors feel safer allocating capital with someone in the White House who is seen as making the stock market go up.
Regulatory Tailwinds for Bitcoin
The positive regulatory environment has also been a boon for Bitcoin, according to Matt Hogan of Bitwise. Hogan says the shift from bureaucrats to market participants running regulatory bodies has created tailwinds for the crypto market.
Pompano believes the incoming administration will be serious about slashing government spending and protecting the right of Americans to own and self-custody Bitcoin. He is hopeful they will establish a Bitcoin strategic reserve, where the government holds Bitcoin on its balance sheet as a store of wealth.
Elon Musk's Crypto Influence
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