Trump’s Return Could Ignite Crypto Market Growth, CleanSpark CEO Predicts After SEC Shift
He attributed the momentum to fresh institutional interest triggered by Congress’s repeal of SEC bulletin SAB 121 earlier this month.
“In the prior years, you know the Bitcoin industry and the crypto industry as a whole, we had a lot of headwinds that we were facing,” Bradford continued. “We find ourselves with some tailwinds at this point.”
“Since the administration took office, it’s been a net positive for our industry and a lot of this comes from the regulatory landscape,” Bradford told CNBC’s Talia Kaplan on Thursday.
“As a result, there’s now more traditional institutions becoming interested in holding Bitcoin and interacting with it,” he added.
The crypto entrepreneur pointed to the repeal of the United States Securities and Exchange Commission’s (SEC) controversial bulletin, SAB121 – which required financial institutions custodying digital assets to list them as liabilities on their balance sheet – as having the “highest impact” for the crypto sector.
When asked by Kaplan if he was “fazed” by the Trump-affiliated crypto company’s most recent announcement, Bradford reaffirmed that CleanSpark would “continue doing what we do best” as the Bitcoin miner “with the highest operational excellence in the industry.” “The scale we’re operating at will take a long time for anybody to catch up on,” he said.
Bradford’s comments come just weeks after crypto infrastructure firm Hut 8 announced that it would be launching Bitcoin mining firm American Bitcoin with investments from Eric Trump and Donald Trump Jr.