All signs point to the US possibly warming up to crypto – no matter who wins the elections.
But industry execs say crypto’s growth doesn’t solely hinge on Uncle Sam playing nice anymore.
Why? Crypto hubs in the Middle East and Asia are already driving positive momentum. Crypto now has access to attractive locations that will allow it to grow, and these “were not available a couple of years ago,” Henri Arslanian, co-founder of crypto hedge fund Nine Blocks Capital Management, told MONIIFY.
More institutional products (think Bitcoin and Ether ETFs) are also driving demand from the big boys, he added, delivering a stamp of approval for these digital assets.
Global appeal
The US is still a significant market, and regulators there becoming BFFs with crypto players might mean fewer hurdles. But crypto’s global appeal is the ace up its sleeve.
- The US has more than 53 million crypto holders, but it’s lost talent and capital to friendlier shores because of unclear crypto rules and enforcement action.
- Singapore, the UAE and Hong Kong are ahead of it in the recent Henley Crypto Adoption Index 2024.
- The global south is now the global majority, says Manoj Narender Madnani, general manager at Bitcoin miner MARA. A large population base, a significant share of global GDP, and strong crypto adoption points to a promising future for crypto in these regions, he says.
Why you should care?
The crypto industry continuing to grow regardless of what Uncle Sam does bodes well for your investments. If it continues down this path, Bitcoin will be “sitting at $100,000 within a year’s time,” Madnani says.
Still on the fence? Madnani suggests young investors take a small position in Bitcoin, let it compound over time, and see it as a valuable addition to their portfolio in the long run.
