Matthew Sigel, head of digital assets research at asset manager VanEck, said on CNBC that Bitcoin does not need a Republican president to do well and that former President Joe Biden is not inherently anti-Bitcoin. He argued that even though Republicans have repeatedly criticized Democrats as hostile to crypto, and regulators under the Biden administration brought lawsuits against digital asset companies, Bitcoin can still develop in a healthy way under Democratic leadership. Sigel also discussed the delay around the Clarity Act, a bill designed to create a classification framework for digital assets and define whether securities, commodities, or payment stablecoins fall under specific regulatory oversight. Some Republican senators have accused Democrats of stalling the bill. Coinbase Chief Policy Officer Faryar Shirzad, however, said the opposition mainly comes from older Democrats, while younger lawmakers have a better understanding of technological change. He added that crypto may be one of the few issues in Washington with meaningful bipartisan support. Bitcoin has also posted strong recent price action, rising nearly 24% over the past seven days, briefly touching $81,160 before pulling back to about $78,438. The report also noted that the Trump administration had pushed to establish a strategic Bitcoin reserve and issued several crypto-supportive executive orders.
Matthew Sigel, head of digital assets research at asset manager VanEck, said on CNBC that Bitcoin does not need a Republican president to perform well, and that former President Joe Biden is not anti-Bitcoin.
Sigel said that although Republicans have repeatedly criticized Democrats as being against cryptocurrencies, and regulators during the Biden administration filed lawsuits against digital asset companies, Bitcoin can still grow in a healthy way under Democratic leadership.
Clarity Act delay comes into focus
Sigel also addressed delays surrounding the Clarity Act. The bill is intended to create a classification framework for digital assets and clarify whether securities, commodities, or payment stablecoins fall under particular regulators.
Some Republican senators have accused Democrats of slowing the legislation. Coinbase Chief Policy Officer Faryar Shirzad took a different view, saying opposition mainly comes from older Democrats, while younger people better understand technological change. He said crypto may be one of the most bipartisan issues in Washington.
Bitcoin posts strong seven-day move
Bitcoin has shown strong recent price performance, rising nearly 24% over the past seven days. It briefly reached $81,160 before easing back to about $78,438. The report added that the Trump administration had previously pushed to establish a strategic Bitcoin reserve and introduced several executive orders supporting crypto.
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