VanEck Research Head: Bitcoin Can Thrive Under Democratic Leadership

ChainCatcher report: Matthew Sigel, Head of Digital Assets Research at asset management firm VanEck, told CNBC that Bitcoin does not require a Republican president to perform well, and former President Biden is not anti-Bitcoin. Sigel noted that although Republicans have repeatedly accused Democrats of being anti-crypto, and regulatory agencies under the Biden administration have filed lawsuits against digital asset companies, Bitcoin has still thrived under Democratic governance. Sigel also addressed the delay in the passage of the Clarity Act, which aims to establish a classification framework for digital assets and clarify their regulatory designation as securities, commodities, or payment stablecoins. Some Republican senators have accused Democrats of stalling the legislation, while Coinbase’s Chief Policy Officer, Faryar Shirzad, argued that opposition primarily comes from older Democrats, whereas younger generations better understand technological change and that cryptocurrency may be one of the most bipartisan issues in Washington. Bitcoin’s price has recently shown strong performance, rising nearly 24% over the past seven days and briefly reaching $81,160 before retreating to approximately $78,438. Previously, the Trump administration advocated for the creation of a strategic Bitcoin reserve and issued multiple executive orders supporting cryptocurrency.