First Half Macro & Political Outlook for Bitcoin
First Half Macro & Political Outlook for Bitcoin
Crypto is off to one hell of a start in 2021. Already, to kick off the new year, we have a new administration, more stimulus talks, the Federal Reserve continuing to blast their money printer, and unprecedented anti-freedom actions by big tech and centralized exchanges. With all this as the backdrop crypto prices have soared over the past month.
History can help inform us as we navigate these uncertain times. Whether this comes from gold prices from 2009 - 2011, or as early as last week’s events around tech and finance censorship, outside macro factors could help define the future for crypto. In this report, we dive into the new administration’s policies, U.S. government officials stances on crypto, potential governments crack downs on digital assets, inflation concerns from QE, institutional stances on the asset class, and how we see the demand for decentralization emerging.
First Half Outlook
The New Administration’s Policies
On January 21, 2021, the United States welcomed a new administration. At the helm is President Biden, a career politician who is vastly different than his predecessor. President Biden’s administration is focused on four key elements out the gate:
- Bipartisanship
