Mike Belshe, CEO of BitGo, announced anticipated positive developments in the cryptocurrency market starting in 2024, expected to persist until 2025. He noted that the new administration's crypto-friendly policies in Washington D.C. have not yet fully impacted the market, but are projected to have a significant future influence.
Will New Crypto Policies Impact the Market?
Belshe emphasized that the new administration’s cryptocurrency-friendly measures could positively influence the markets. However, he expressed that these regulations have not been entirely priced in just yet.
Corporate Investments in Bitcoin to Rise
Belshe pointed out that large companies possess significant cash reserves, which have been losing value against inflation. He highlighted that Bitcoin presents a good option for cash management in companies. BitGo is reportedly in discussions with corporate entities about utilizing Bitcoin for treasury management. Belshe expects that the increase in corporate investments could significantly affect the growth potential of the crypto market by 2025.
Future Role of Bitcoin in the Financial System
Belshe predicts that Bitcoin will continue to play a more effective role in the financial system, particularly driven by the growing interest of institutional investors.
Overall, the forecast points towards the potential for positive developments in the cryptocurrency market in the coming years, primarily due to new policies and investment growth, possibly leading to a more significant role of cryptocurrencies in the global economy.
