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>> WE ARE BACK WITH THE LATEST
ON A CRYPTOCURRENCY SURGE THAT’S
BEEN GRIPPING WALL STREET SINCE
PRESIDENT ELECT TRUMP WON THE
ELECTION LAST WEEK. BITCOIN HIT
ANOTHER RECORD HIGH YESTERDAY,
TOPPING $89,000 FOR THE FIRST
TIME EVER. CNBC TECHNOLOGY
REPORTER MACKENZIE SIGALOS IS
HERE WITH MORE ON THIS. HEY,
MACKENZIE. GOOD MORNING. SO FOR
A LOT OF PEOPLE WHO ARE LIKE, I
THOUGHT LIKE BITCOIN WAS A FLASH
IN THE PAN AND WE’RE OVER IT OR
EVERYBODY LOST THEIR MONEY OR
WHATEVER PEOPLE MIGHT THINK HELP
US UNDERSTAND THAT IT IS STILL
HERE. IT’S GOING STRONG. AND WHY
MR. TRUMP’S ELECTION WIN IS
BOOSTING BITCOIN.
>> HEY GOOD MORNING SAVANNAH. SO
MUCH OF THIS RECORD SURGE IN THE
CRYPTO MARKET COMES DOWN TO
INVESTORS PRICING IN A FUTURE
WHERE DONALD TRUMP DELIVERS ON
ALL HIS CAMPAIGN PROMISES TO THE
INDUSTRY, MOST NOTABLY MAKING
THE US THE CRYPTO CRYPTO CAPITAL
OF THE PLANET. THE PRESIDENT
ELECT HAS ALSO SAID THAT ALL
FUTURE BITCOIN WILL BE MINED IN
AMERICA, WHICH IS WHY YOU’RE
SEEING THOSE BITCOIN MINING
STOCKS SURGE AS WELL. HE’S
TALKED ABOUT LAUNCHING A
NATIONAL CRYPTO STOCKPILE WHERE
THE U.S. GOVERNMENT WOULD BUILD
ITS OWN MULTIBILLION DOLLAR
BITCOIN NEST EGG. AND PERHAPS
MOST NOTABLY, HE’S PLEDGED TO
IMPLEMENT SOME BIG POLICY MOVES
THAT WOULD MAKE IT A LOT EASIER
FOR CRYPTO COMPANIES TO SCALE
THEIR BUSINESS AND OPEN THE DOOR
FOR WALL STREET TO POUR ITS
MONEY INTO THE SECTOR. THAT
WOULD BE A GAME CHANGER FOR
CRYPTO SAVANNAH.
>> WHAT ARE ANALYSTS SAYING
ABOUT HOW HIGH THIS IS EXPECTED
TO GO THIS YEAR?
>> OKAY, SO ALREADY THE CRYPTO
MARKET HAS ADDED MORE THAN $700
BILLION TO ITS MARKET CAP SINCE
DONALD TRUMP TOOK OFFICE, ALONG
WITH NEARLY 300 PRO-CRYPTO
LAWMAKERS IN CONGRESS. BUT
STANDARD CHARTERED SEES THE
TOTAL MARKET CAP MORE THAN
TRIPLING TO $10 TRILLION UNDER
TRUMP. AND AS FOR WHERE BITCOIN
IS HEADED THIS YEAR, THE REVISED
THEIR FORECAST FROM 100 K TO
$120,000. ALSO WORTH NOTING,
SAVANNAH, THERE’S ALSO A RALLY
HAPPENING IN MEME COINS. YOU’VE
GOT DOGECOIN, WHICH ELON MUSK
HAS PUMPED UP IN THE PAST,
SURGING 150% IN THE LAST WEEK ON
THE BACK OF SENTIMENT THAT MUSK
HAS BEEN CLOSELY ADVISING THE
INCOMING PRESIDENT, ONE OF MR.
TRUMP’S CAMPAIGN TRAIL PROMISES
AT ONE POINT WAS ALSO TO LOWER
REGULATIONS ON CRYPTOCURRENCY.
>> WHAT DOES THAT LOOK LIKE? AND
WHY WOULD PEOPLE BE EXCITED
ABOUT THAT?
>> OKAY, SO DONALD TRUMP IS
TALKING ABOUT FIRING THE
CHAIRMAN OF THE U.S. SECURITIES
AND EXCHANGE COMMISSION. NOW,
THIS IS A FEDERAL REGULATOR IN
THE U.S. THAT HAS BEEN COMING
DOWN HARD ON THE INDUSTRY. WE’RE
TALKING MORE THAN 100
ENFORCEMENT ACTIONS AGAINST
CRYPTO COMPANIES. JUST SINCE
CHAIR GENSLER CAME TO POWER.
NOW, TRUMP IS REPORTEDLY LOOKING
AT SOME PRO CRYPTO CANDIDATES TO
FILL HIS SHOES, WHICH IS WHY
YOU’VE BEEN SEEING STOCKS LIKE
COINBASE AND ROBINHOOD SHOOT UP
BECAUSE THEY’VE BOTH BEEN
DEALING WITH LEGAL FIGHTS WITH
THE SEC. NOW THE OTHER BIG
PROMISE HERE IS ROLLING BACK
ANOTHER RULE FROM THE SAME
REGULATOR THAT BASICALLY STOOD
IN THE WAY OF BIG WALL STREET
BANKS LIKE GOLDMAN SACHS BEING
ABLE TO HOLD BITCOIN ON THE
BANK’S BALANCE SHEET.
>> YOU DO THOSE TWO THINGS AND
SUDDENLY THE DOORS SWING OPEN TO
A SURGE OF INVESTMENT, WHICH
ULTIMATELY HELPS DRIVE UP THE
PRICE.
>> IF THE PRESIDENT ELECT
FOLLOWS THROUGH ON THESE CRYPTO
PROMISES, THE DIGITAL CURRENCIES
STAY AS HIGH AS THEY ARE. WHAT
KIND OF IMPACT WOULD THAT HAVE
ON THE DAY TO DAY ECONOMY?
>> OKAY, SO SAVANNAH, THE SPOT
BITCOIN ETFS HAVE MADE IT EASIER
THAN EVER FOR MOM AND POP
INVESTORS TO GET EXPOSURE TO
CRYPTOCURRENCY AND TO ADD IT TO
THEIR RETIREMENT PORTFOLIO.
>> SO PRICES GOING UP IS A REAL
BOOST TO A LONG TERM INVESTMENT
STRATEGY.
>> AND THEN THAT NATIONAL CRYPTO
STOCKPILE THAT I MENTIONED
EARLIER, WELL, THE PRO BITCOIN
SENATOR IN WYOMING HAS
INTRODUCED LEGISLATION THAT
WOULD MAKE IT POSSIBLE FOR THE
U.S. GOVERNMENT TO USE TREASURY
FUNDS TO BUY MORE.
>> SHE SAYS THAT HER BILL WOULD
HELP PAY DOWN THE NATIONAL DEBT