Greg Cipolaro, head of global research at New York Digital Investment Group (NYDIG), a financial services company focused on Bitcoin, believes that after the overwhelming victory of Donald Trump and the Republican Party in the 2024 U.S. elections, investors have no reason to avoid owning Bitcoin. According to him, with Bitcoin products easily accessible and tightly regulated like ETFs, Bitcoin is becoming an important asset politically. Cipolaro commented that ignoring Bitcoin today could lead to financial losses in the future.
NYDIG, a subsidiary of Stone Ridge Holdings Group, specializes in providing financial services for Bitcoin, such as custody services,... Cipolaro's view aligns with the consensus within the blockchain and crypto industry following the election, seen as a positive signal for this field, as Bitcoin's price has increased by about 17% in the past week.
Additionally, analysts at JPMorgan believe that both Bitcoin and gold will benefit from the election results. Bitcoin is further bolstered by MicroStrategy's plan to raise $42 billion to purchase more BTC. BitGet Research suggests that hedge funds will enter the market out of fear of missing the opportunity and will contribute to pushing prices higher. Bernstein analysts predict that Bitcoin's price will reach $90,000 this year and $250,000 by 2025.