TechFlow news — On November 19, WisdomTree recently released a report stating that the approval of spot Bitcoin ETFs in January 2024 drove Bitcoin's price to surge toward $70,000. However, regulatory headwinds and profit-taking caused Bitcoin to remain in a consolidation phase for much of the year.
Recently, Trump’s election victory pushed Bitcoin to new highs, even surpassing $90,000, suggesting that pro-crypto monetary policies may gain momentum under the new administration.
Furthermore, the proposed Bitcoin legislation aimed at establishing a U.S. strategic Bitcoin reserve could reshape market dynamics and the regulatory landscape, although debates over its scale and fiscal implications persist.
The report concluded: "We do not know whether the Bitcoin Bill (or a substantially similar bill) will become policy. However, it is useful to consider potential policies through this lens, rather than focusing excessively on the possible changes among different government personnel."
The mere fact that President-elect Trump took the stage at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, 2024, signaled a clear stance. We are now awaiting signals indicating how this campaign rhetoric will translate into actual government policies supporting the Bitcoin community.
