Bitcoin (BTC-USD) has expanded its post-election rally, boosted by President-elect Donald Trump's pro-cryptocurrency sentiment during his campaign. Ric Edelman, founder of the Digital Assets Council of Financial Professionals and bestselling author of The Truth About Crypto, joins Morning Brief host brad smith and madison mills The purpose of the meeting was to discuss the future of cryptocurrencies with President Trump, who is scheduled to begin his second term in the White House in January.
“If Trump doesn’t deliver on his promises, this crypto rally will turn into a crypto rout. Bitcoin’s incredible rise since the election is all because Donald Trump is the kind of person he is. There's no doubt that's because everyone is excited about it, and he's committed to the growth and development of Bitcoin and broader digital assets by appointing crypto advocates during his campaign. Secretary of the Treasury and supporter of cryptocurrencies. [Securities and Exchange Commission] SEC Chairman, and this rally will be over as quickly as it started,” Edelman said.
He said: “Regardless of whether the policies are favorable or not, cryptocurrencies are going to do well. Cryptocurrencies are global assets that are traded 24/7. The US cannot kill it. It cannot disrupt it. It can be done. It can be delayed. And it's been proven.” What the SEC's Gary Gensler has seen under the Biden administration is that if the administration is favorable and Congress is favorable, what you'll see is legislative transparency… [the crypto community is] We want laws and regulations that provide clarity from a tax and custody perspective. [and] A regulatory perspective that allows institutional investors, and most importantly the banking industry, to participate as freely as everyone else. ”
Edelman continued, “My basic view is that the Trump administration will deliver on its promises. The president will honor the expectations he has set out to everyone. And by the end of this year, Bitcoin will reach 10 It will be over $10,000,” he added. I predict that Bitcoin will exceed $150,000 by the end of 2025 and by 2030. This is approximately a five-fold increase from the current price. ”
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This post was written by Naomi Buchanan.
