Trump's Victory Over Harris Seen as a Game Changer for Crypto Industry, Says Bitwise CIO Matt Hougan

Trump’s big win against Kamala Harris is a game changer for the crypto world, says Matt Hougan, the CIO of Bitwise.

In a recent chat on the Leading Indicator YouTube channel, Hougan shared his thoughts. He believes that Trump's victory will really help the crypto industry, which faced a lot of challenges under the previous administration.

According to Hougan, the Biden administration made it tough for crypto markets to thrive. He pointed out, “It’s a massive game changer for the crypto industry.” He explained that the last four years felt like the industry was operating with one hand tied behind its back. There was aggressive regulation and a lack of clarity. Now, he says, those challenges have turned into opportunities. Trump and the Republican Congress are clearly supportive of crypto.

Hougan talked about how this pro-crypto stance could reshape the digital asset landscape. “We’ll see regulatory clarity, we’ll see new legislation,” he said. He even mentioned the possibility of the U.S. creating its own Bitcoin reserve. “It’s like we’ve gone from 10 miles an hour to 60 miles an hour,” he added. That’s why Bitcoin is hitting all-time highs, and he feels optimistic about the future.

He also discussed a lawsuit filed against the SEC by 18 states. They claim the SEC has hurt their crypto industries. Hougan stated, “This industry has been persecuted for the past four years.” He emphasized the ongoing legal battles and the unclear regulations that have set back the U.S. in the crypto space. Many innovations have moved overseas, and this lawsuit reflects the frustration felt by the crypto community and supporters of innovation.