Bitcoin hits $75k amid new US administration: Insights from Bitwise Asset Management's Bradley Duke

Proactive - Interviews for investors

Bitwise Asset Management European head Bradley Duke speaks with Proactive's Stephen Gunnion about the implications of the recent US election on Bitcoin and the broader crypto market. Duke explained how a Republican-led administration may positively influence crypto policies, with particular attention to new initiatives under discussion, including a potential Bitcoin reserve and increased mining support within the US. “The Republican presidency will usher in a period of friendliness toward Bitcoin and crypto in general,” Duke shared. Duke discussed the recent spike in Bitcoin’s value, which reached $75,000 following election outcomes. He attributed this to a combination of policy shifts and ongoing market factors, including historically low exchange balances and heightened accumulation by long-term holders. Duke noted, “Low balances [on exchanges] are usually a bullish indicator,” highlighting a significant trend of investors moving Bitcoin to cold storage rather than selling. In addition, Duke assessed the macroeconomic backdrop, including US debt levels and treasury yields, and their influence on Bitcoin’s appeal as a hedge against fiscal instability. He emphasised that Bitcoin’s decentralised nature makes it an attractive alternative amidst mounting concerns over national debt sustainability. To catch the full insights, visit Proactive's YouTube channel. Don’t forget to give this video a like, subscribe, and enable notifications to stay updated with more financial discussions and analysis. #Bitcoin #Cryptocurrency #BitwiseAssetManagement #BradleyDuke #USElections #CryptoMarket #BitcoinPrice #BitcoinInvesting #FinancialStability #CryptoRegulation #USDebt #ProactiveInvestors #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews