According to ChainCatcher, a commentary article from Xinhua News Agency pointed out that the surge in Bitcoin to a certain extent reflects the policy direction of the next political cycle in the United States, involving the long-term game between regulation and capital.
Institutions that hold or trade Bitcoin and cryptocurrencies play an important role in U.S. politics. A political action committee formed by a large cryptocurrency industry organization has funded cryptocurrency candidates to run for Congress.
Analysts said that as a major participant in global financial activities, if the United States handles financial supervision irresponsibly, it will not only harm American investors but also have a significant negative impact on the world economy.
