tl;dr
According to a report from New York Digital Investment Group (NYDIG), market analysts suggest that not owning bitcoin (BTC) could become a liability in the future due to expected regulatory clarity in the United States. NYDIG's global research head, Greg Cipolaro, emphasized that investors must get ...
Market Analysts Emphasize Owning Bitcoin (BTC) as a Future Investment Imperative
Market analysts suggest that not owning bitcoin (BTC) could become a liability in the future due to expected regulatory clarity in the United States. NYDIG's global research head, Greg Cipolaro, emphasized that investors must get off zero BTC allocations and make room for it in their portfolios. With the U.S. election results favoring Republicans, the crypto industry anticipates favorable developments for clear regulations. The consolidation of power by the Republican party could lead to significant changes in U.S. agencies and departments, potentially accepting crypto into the mainstream financial system.
Investors to Get off Zero BTC Allocations
Greg 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. "Not owning the asset is going to become a liability in the future," Cipolaro added. 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.
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