Crypto Update | Dormant Investors Are 'Awake Again' for Crypto After the Election: Galaxy Exec
Nov 19, 2024
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In this discussion, Kelly Greer, Head of Americas Sales at Galaxy, sheds light on the resurgence of retail and institutional interest in crypto after the recent elections. The conversation highlights the shift in institutional focus on Bitcoin and the thrill of meme coins like Doge. Greer elaborates on the evolving market dynamics and anticipated regulatory changes that could further invigorate crypto participation among institutions. The insights provide a fresh perspective on the future landscape of cryptocurrency investment.
Institutional and retail interest in Bitcoin has surged post-election, reflecting a significant shift towards mainstream acceptance in financial strategies.
Emerging regulatory clarity is vital for reshaping institutional engagement with crypto, particularly regarding safe trading and potential SEC leadership changes.
Deep dives
Renewed Institutional Interest in Bitcoin
Institutional interest in Bitcoin has surged following recent political changes and the approval of exchange-traded funds (ETFs). Many portfolio and fund managers who had previously gone dormant are now actively seeking to allocate Bitcoin in their investment strategies. The high performance of Bitcoin, which has set new all-time highs, has made it impossible for institutions to ignore as it proves beneficial for portfolio diversification. This renewed attention signifies a potential shift in the overall acceptance and mainstream integration of Bitcoin within traditional financial frameworks.
The Role of Regulation in Crypto Investment
Regulatory clarity is emerging as a significant factor that could reshape how institutional investors engage with Bitcoin and the broader crypto market. The ongoing discussions around new regulations and the upcoming appointment of a new SEC chairman are particularly pivotal, with expectations that the new leadership will be more favorable towards crypto initiatives. Investors are looking for assurances that the regulatory framework will allow for safer trading and holding of Bitcoin, much like traditional assets. Enhanced regulatory environments are anticipated to boost participation from institutions that have previously been hesitant.
Understanding Layer One Cryptos and Meme Coins
Layer one cryptocurrencies and meme coins have garnered substantial attention, with Dogecoin being highlighted as a long-standing option in the meme coin category. Institutional clients are increasingly inquiring about various crypto assets beyond Bitcoin, but many view Bitcoin as the cornerstone for their entry into the space. There is an ongoing debate about which layer one assets will maintain their relevance; a focus on enduring use cases and long-term adoption is crucial for stability. Amidst the rising popularity of meme coins, there is caution about the speculative nature of many layer ones that closely follow market trends.
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Galaxy head of Americas sales Kelly Greer joins CoinDesk to discuss the renewed retail and institutional interest in crypto after the presidential election. Plus, their insights into the potential candidates for the next SEC chair.
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This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes.
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This episode was hosted by Jennifer Sanasie. “Markets Daily” is produced by Jennifer Sanasie and edited by Victor Chen. All original music by Doc Blust and Colin Mealey.