Bitcoin And Crypto Assets About To Enter The Biggest Run In History

Cathie Wood says Bitcoin and crypto assets are about to enter the biggest run in history following the election of President Donald Trump.

Cathie Wood of ARK Invest believes that digital assets are poised for a significant surge following Donald Trump’s election and the anticipated pro-crypto political environment.

In a recent update to investors, Wood expressed her view that crypto technology, which she sees as an essential yet undeveloped part of the internet, was at risk of being stifled by the U.S. Securities and Exchange Commission (SEC).

However, with a supportive political administration about to take office, she believes that digital assets could experience one of the largest rallies in their history.

“On the digital asset front, I mentioned that Bitcoin is very much a part of this administration’s plans including building a strategic reserve.

We’re very excited about that.

We think that this is the layer of the internet that the developers in the early 90s did not build in. 

And we were at risk because of the SEC of losing this next big wave of the internet.

All around commerce, financial services, digital property rights, and now we think this administration is going to bring that innovation back home where it started and we’re going to ride that wave again. 

So we’re pretty excited about what has just happened from an innovation point of view.

We think that deregulation is critical in really allowing innovation one of the biggest runs it will ever have in history now that these technologies are ready after 25 years of germinating.”

Investors are eager for the resignation of SEC Chair Gary Gensler following Trump’s victory.

In Trump’s address at the Bitcoin 2024 conference in Nashville, Tennessee, he stated: “On day one, I will fire Gary Gensler.”

The markets have seen big rallies since Trump’s lead in the election.

Both the S&P 500 and NASDAQ have hit new all-time highs with Bitcoin also surging to a whopping $86,732.54.

How long will these rallies last?

Only time will tell, but I’m curious to know what you think.

Leave your thoughts below.

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Frank Nez

Frank Nez is an American retail journalist whose research has been cited by SEC and Congressional reports. Frank Nez has been featured by prominent outlets such as TheStreet and NewsBreak. ‘Daily Crypto News’ is now an official CoinMarketCap news source.

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