Bridger PenningtonFund Launch & Investment Expert

Head of the SEC under investigation, bull market incoming 🚀

7 Nov 2024 · 1 min

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1:01

In this commentary the speaker links the recent election of Donald Trump and the resulting wave of over 260 pro‑crypto candidates winning seats in Congress to a dramatic shift in the regulatory environment for digital assets. He notes that SEC Chair Gary Gensler is now under investigation, citing a recent statement by Representatives Jim Jordan and Patrick McHenry. The speaker recalls a prior Trump speech at a Bitcoin conference where Trump promised to fire Gensler, and highlights Hester Peirce—an SEC commissioner known for her crypto‑friendly stance—who he heard speak at the Greenwich Economic Forum and views as the likely successor to Gensler. The narrative culminates in a bullish market forecast: Bitcoin has just hit a new all‑time high, Ethereum is poised to break out despite being about 30% below its peak, and an alt‑coin season is expected to kick off in 2025, suggesting a massive rally for the crypto sector.

Chapters

Crazy stuff coming out in crypto right now as Donald Trump just got elected. Now over 260 pro-candidates elected to Congress this election. Gary Gensler under investigation. Gary Gensler is the head of the SEC. Hours after Trump elected, Jim Jordan and Patrick McHenry put this out just this morning, which is pretty wild. Comes after months ago Trump's speech at the Bitcoin conference. This got like a 3-minute standing ovation when he said he would fire Gary Gensler. The crypto market has been just under fire by this guy. Last month, I was at the Greenwich Economic Forum and listened to Hester Peirce talk at the forum. And she's actually one of the commissioners of the SEC. She is the most likely replacement of Gary Gensler. She was phenomenal. I listened to her speak for about an hour. She was pro-crypto, pro-business. She believed the SEC had made all these mistakes last few years, which I agree. There's been— there have been a lot of regulatory oversight. All this is brewing together. We think a massive 2025. Bitcoin just made an all-time high. Ethereum starting to break out. Ethereum is still 30% off right now. And then alt season coming into 2025.