Trump Advocates Crypto Legislation at Davos, Promises Major Bills Soon
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
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Source: Benzinga
- Political Support Boost: Trump stated at Davos that pushing for crypto legislation garnered him 'tremendous political support,' helping to secure votes lost due to Biden's strict regulations, thereby enhancing his influence among voters.
- National Security Priority: Trump framed cryptocurrency as a national security priority, emphasizing the need to prevent China from dominating the crypto market, paralleling it with the U.S. efforts to maintain competitiveness in artificial intelligence, highlighting concerns for economic and strategic interests.
- Legislative Progress: Trump mentioned signing the GENIUS Act and expressed hope for Congress to finalize broader market structure legislation covering Bitcoin and crypto trading rules soon, indicating his proactive stance on the crypto market and commitment to American financial freedom.
- Market Reaction Expectations: Trump's remarks confirm the administration's ongoing interest in friendly digital asset policies, although traders should prepare for a potential 'sell-the-news' reaction once legislation passes, reflecting market sensitivity to policy changes.
Analyst Views on BTC
Wall Street analysts forecast BTC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BTC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 39.870
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Current: 39.870
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
