VanEck Head of Digital Assets Research Matthew Sigel said Bitcoin would not necessarily be harmed if Democrats return to power in the U.S., even as President Donald Trump is widely seen as one of the most crypto-friendly leaders the country has had.
Speaking on CNBC on Wednesday, Sigel said former President Joe Biden was not anti-Bitcoin, despite the broader view from many Republicans that Democrats are hostile to crypto.
“Biden was actually okay for Bitcoin,” Sigel said. “It’s the rest of cryptos that might have a problem [if Democrats get back in power].”
Sigel draws a line between Bitcoin and the rest of crypto
Republicans have repeatedly attacked Democrats as anti-crypto. Under Biden, regulators pursued digital asset companies with a series of lawsuits and enforcement actions.
Still, Sigel argued that Bitcoin stands apart. He added: “With the ascendant socialist wing of the Democrat Party, I can tell you here in New York City that there are plenty who are reminded of why there is value in a decentralized, scarce asset that can’t be printed and spent on nonsense.”
Trump’s crypto stance and Bitcoin’s latest price move
Trump campaigned on supporting the digital asset industry and has signed several pro-crypto executive orders, including one establishing a “Bitcoin Strategic Reserve.”
Bitcoin climbed after Trump’s 2024 election victory and set a new record last year. After several sluggish months in 2026, the asset started rising again last week after the president urged lawmakers to move the long-awaited crypto Clarity Act forward.
Bitcoin is up nearly 24% over the past seven days. It touched $81,160 this week before falling back to its current price of $78,438.
Clarity Act vote slips to September
Pro-crypto lawmakers had hoped to pass the Clarity Act before Congress left for its August recess, but the vote was pushed to September after Democrats objected to the latest draft.
Some Republican senators have accused Democrats of deliberately holding the bill back.
The Clarity Act is designed to create a legal framework that classifies digital assets as securities, commodities, or payment stablecoins, while also deciding which regulator would oversee each category.
Coinbase policy chief says crypto remains bipartisan
Sigel’s comments line up with remarks made in July by Coinbase Chief Policy Officer Faryar Shirzad, who said crypto may be one of the most bipartisan issues in Washington.
Discussing the delayed Clarity Act vote, Shirzad said some lawmakers were still blocking the legislation, but younger Democrats supported the framework.
Speaking on The Hill’s Rising show, he said: “A lot of the opposition is generational — so it is Democrats who oppose it — but I think younger members who understand the technology, understand that money is transforming how we should engage financially, how we need to adapt, and so it’s really a generational shift.”
The article first appeared in Bitcoin Magazine and was written by Mathew Di Salvo.