BiyaPay Analyst: Trump Signs Executive Order, $12.5 Trillion Expected to Enter Market, Bitcoin Ethereum See Price Spike
BlockBeats News, August 8th. On Thursday, Trump signed an executive order requiring the U.S. Department of Labor to reevaluate the investment eligibility of industries such as private equity, real estate, and cryptocurrency, allowing them to be included in 401(k) retirement plan investments. This move may not only inject a large amount of funds into the market but also lead to a strong rally in cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
According to reports, this executive order also instructs the Department of Labor to collaborate with the Department of the Treasury, the U.S. Securities and Exchange Commission (SEC), and other relevant agencies to study how to adjust supporting regulations to allow more types of investments into 401(k) pension plans. It is expected that this change will bring around $12.5 trillion of pension funds into the market, undoubtedly providing strong support for cryptocurrencies and related assets.
In the past, due to legal risks, most corporate retirement plan administrators have refused to include illiquid and structurally complex products in 401(k) investments. BiyaPay analysts pointed out that the signing of this executive order is seen as a key step by the Trump administration in opening the door to the private equity market and providing strong policy support for the cryptocurrency market's development. This move is not only significant for the crypto market but also lays a foundation for future bull markets.
The BiyaPay platform supports the exchange of over 200 cryptocurrencies such as BTC and ETH, with spot and contract order trading at zero fees, helping users reduce transaction costs.
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