BitGo CEO Mike Belshe says that he’s anticipating the tailwinds spurring crypto assets in 2024 will likely continue into 2025.
In a new CNBC interview, Belshe says that despite the crypto industry already being bullish on the new pro-crypto administration arriving in Washington D.C., it’s possible that the new regulatory environment hasn’t been completely priced in yet.
[adinserter block="1"]“I think the regulatory is somewhat priced in but in general we’ve seen that these news events don’t always price in until they’re actually here.
So look, we have a new administration coming in, things look very promising, people are very excited, they’re very bullish. But it’s not here yet.
So actually I think we’re going to continue to see the effects of that all through 2025.
Remember that for the last two and a half years, we’ve had not just a regulatory environment that didn’t want to help you, we had a regulatory environment that was actively trying to kill you. So all of a sudden with that changing in the opposite direction, we’re going to continue to see good gains next year.”
When asked about whether we will see more companies add Bitcoin (BTC) to their corporate treasuries, Belshe says “It’s absolutely going to happen.”
According to the CEO, the biggest companies simply have too much cash lying around that is predictably getting debased by the increase in monetary supply – making BTC allocation a viable strategy.
“We’re talking with multiple clients right now about doing that. It’s been a conversation for the last couple of years but frankly, the regulatory changes make it a lot easier. Having ETFs available makes it a lot easier.
People don’t remember exactly how much balance sheet cash some of the top seven companies have. It’s hundreds of billions of dollars. So having some access to Bitcoin into that portfolio into that treasury management just makes sense.
And remember it’s a hedge against whether the US can curtail inflation. And while we’re optimistic about what’s going to happen with the new administration over the next few years, America has not had a track record at all of being able to curtail spending. So if we’re going to continue to see monetary supply go up, Bitcoin is the perfect hedge against that.”
At time of writing, Bitcoin is trading for $94,912.
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