VanEck: Bitcoin Could Thrive Under Democrats, Not Anti-Bitcoin

Matthew Sigel, Head of Digital Assets Research at VanEck, stated that Bitcoin's future would not be negatively impacted if Democrats regain power. Speaking on CNBC, Sigel noted that former President Joe Biden is not anti-Bitcoin, despite Republican claims that Democrats are hostile to crypto. He mentioned that while Biden's administration took regulatory actions against digital asset companies, it was not detrimental to Bitcoin specifically. Sigel highlighted concerns for other cryptocurrencies if Democrats return to power, referencing the socialist wing of the party. Bitcoin's price has recently surged nearly 24%, reaching a peak of 81160 dollars before settling at 78438 dollars. This rise followed President Trump's push for the crypto Clarity Act, which aims to establish a legal framework for digital assets. The Act's vote has been delayed until September, with some Republican senators accusing Democrats of stalling the legislation. Sigel's views align with those of Coinbase's Chief Policy Officer, who emphasized the bipartisan nature of crypto issues in Washington.