ChainCatcher Message, Standard Chartered's Global Head of Digital Asset Research Geoff Kendrick believes that many of Trump's commitments to support cryptocurrency will drive Bitcoin prices up. He expects Trump to overturn Biden's veto of SAB121, a controversial accounting guideline from the U.S. Securities and Exchange Commission (SEC) that critics say has prevented investment banks from offering cryptocurrency custody services on a large scale.

Geoff Kendrick believes that Trump will achieve this goal soon after taking office on January 20 next year, and thinks this move will encourage more institutions to adopt cryptocurrency.