Why a Younger Congress Could Be Good News for Crypto

A Democratic takeover of Congress may look like bad news for the industry, but Bitwise Chief Investment Officer Matt Hougan believes the bigger picture tells a different story. While the election could bring short-term market volatility, Hougan said that the changing demographics of Congress matter more to crypto’s long-term prospects than which party holds power. Importance of Demographics The latest election put Democrats in control of both houses of Congress, with Elizabeth Warren likely to become chair of the Senate Banking Committee. Given her history of opposing crypto, the development has raised concerns about what could come next for the industry. Hougan, however, does not see the election as a major setback.

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