Bitwise CIO: Crypto Market Hasn’t Priced In SEC Bullish Shift
The scope of the US securities regulator’s new position on cryptocurrencies may be underestimated by cryptocurrency investors. This may indicate that there is still potential for cryptocurrency values to rise, according to Bitwise Chief Investment Officer Matt Hougan.
A speech Paul Atkins gave on July 31 at the America First Policy Institute regarding the integration of blockchain technology into the financial markets was published by the US Securities and Exchange Commission. The speech took Hougan by surprise, he said on Tuesday, and he questioned whether Atkins’ vision had been priced into the market.
The most bullish document I’ve read on crypto wasn’t written by some yahoo on Twitter. It was written by the chairman of the SEC. I can’t imagine reading the speech and not wanting to allocate a significant portion of your capital to crypto, or, if you work in finance, a significant portion of your career,
Hougan
Trump’s Pro-Crypto SEC Could Usher in a New Era for Digital Assets
Following the election of US President Donald Trump, who pledged to restructure the SEC’s leadership and direction, the cryptocurrency markets have experienced a notable surge. After Trump took office on January 20 and former head Gary Gensler resigned, Bitcoin surged to fresh all-time highs. When Paul Atkins was sworn in as the new chair on April 21, it surged once more.
The government has dropped long-standing enforcement efforts against cryptocurrency companies under his leadership, and most recently, it started Project Crypto, an effort to provide clear regulations. The market could not yet completely understand the ramifications of the SEC‘s reforms, according to Hougan.
I’m realizing I have to think bigger — and move to a faster timeline. If it wasn’t priced in for me, I’m going to guess it wasn’t priced in for others.
Hougan
SEC Chair Atkins Outlines Bold Vision to Bring All Assets On-Chain
Atkins stated in his address that the SEC is evaluating the appropriate course of action to guarantee that laws and regulations do not hinder the development of on-chain markets, among other initiatives.
It’s like the chairman of the SEC took all the best ideas crypto supporters have been promoting for the past decade and packaged them in a single speech, along with details on how the SEC can actually make them happen. There’s a lot to unpack in the speech for investors; you could build an entire venture capital firm around the chairman’s vision, creating companies to capitalize on each opportunity he lays out.
Hougan
Based on Atkins’s remarks in his speech regarding the transfer of all assets, including stocks, bonds, and dollars, to public blockchains, Hougan claimed that blockchains might be ready for expansion. After surviving in a regulatory limbo, Hougan also forecasted that decentralized finance (DeFi) apps would profit from a more lenient SEC.
For more up-to-date crypto news, you can follow Crypto Data Space.
