Bitwise CIO Matthew Hougan said in a Nov. 6 memo that Donald Trump’s victory in the US presidential elections will catalyze a “Golden Age of Crypto” as the new administration is set to improve the regulatory landscape.

Crypto markets rallied significantly as Trump’s odds of winning the election climbed above 95% on prediction markets. Bitcoin (BTC) hit a new all-time high of roughly $75,650 after months of range-bound price action.

As of press time, the flagship crypto was trading at $75,300, up 7.69% over the past day, based on CryptoSlate data.

However, not all cryptocurrencies performed equally over the past 24 hours, with Hougan highlighting this disconnect to warn investors to be “more selective” with their investments.

Regulatory barriers fall

According to Hougan, the first fundamental change in a pro-crypto presidency term would be a shift in the hostile approach taken by the US Securities and Exchange Commission (SEC) and other regulators toward the industry.

The Bitwise CIO said:

“Crypto has been operating for the past four years with both hands tied behind its back.”

For the past few years, the SEC has taken a ‘regulation by enforcement’ approach by applying lawsuits to crypto firms, usually alleging unregistered securities

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Author: Gino Matos