However, despite the recent surge, experts warn that Bitcoin is among the riskiest asset classes to invest in due to its volatility. While some anticipate more crypto-friendly regulations moving forward, others remain cautious. The article also discusses the possibility of a Bitcoin reserve, the role of ETFs in crypto investment, and the potential for Canadian banks to embrace crypto.
Key takeaways:
- Donald Trump's election win led to Bitcoin reaching record highs after he positioned himself as a pro-crypto candidate, advocating for a national bitcoin reserve and growth in the bitcoin mining sector.
- Trump named Elon Musk as one of the heads of his new Department of Government Efficiency (DOGE), and is reportedly considering the creation of a White House crypto-policy role.
- Despite the current rally, some experts remain cautious about Bitcoin, considering it among the riskiest of asset classes due to its volatility and cybersecurity risks.
- There is speculation about whether Canadian banks will start embracing crypto, with some believing that rising demand for digital assets will push Canadian banks toward greater involvement, while others are skeptical due to the high degree of volatility and lack of regulatory structure.