‘There are no excuses’ to avoid bitcoin, NYDIG research head says
2024-11-11

Greg Cipolaro, the global head of research at vertically integrated bitcoin financial services and infrastructure firm New York Digital Investment Group, believes that there is no longer any excuse for investors to shirk exposure to bitcoin following a landslide victory for President-elect Donald Trump and the Republican party in the United States.
Cipolaro said in an email that "there are no excuses now" for investors to have a bitcoin allocation of zero. "Not only is the asset available through easy-to-access, well-regulated products such as ETFs, but it is now becoming a political imperative," he wrote, adding: "Investors who may have found it easy to dismiss or ignore the asset for various reasons will continue to do so at their financial peril."
"Not owning the asset is going to become a liability in the future," he claimed.
NYDIG, a subsidiary of Stone Ridge Holdings Group, is a bespoke bitcoin-focused financial services company that offers, among other things, custody services.
Cipolaro's sentiments echo a broader consensus among those in the blockchain and cryptocurrency industry following the U.S. presidential election, which has widely been interpreted as a net positive for the space — evidenced by bitcoin's price increase of approximately 18% over the past seven days.
Last week, JPMorgan analysts noted their expectation that bitcoin and gold would benefit from the result, with the former being further bolstered by MicroStrategy’s $42 billion bitcoin acquisition plan. BRN anticipates bitcoin to continue to perform, while BitGet Research suggested sidelined funds may enter the market out of fear and push the price higher. Bernstein analysts also reiterated their call for the price of bitcoin to hit $90,000 this year and $250,000 in 2025.
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