According to Markus Thielen, founder of 10X Research, Gary Gensler, Chairman of the United States Securities and Exchange Commission (SEC), will resign within the first two months of 2025 after President Joe Biden’s term ends. Thielen’s prediction is based on the historical trend of SEC Chairmen typically resigning when a new administration is elected. It is noted that if Donald Trump wins the presidential election, it would spell disaster for Gensler’s role as SEC Chairman.
Trump’s Election Prospect and the Cryptocurrency Market
Thielen pointed to President Biden’s decision not to run for re-election as a significant indicator that Trump could win the presidency. It is believed that no other candidate could credibly challenge Trump if Biden is not in the race.
A Trump administration, perceived as more crypto-friendly, is suggested to be beneficial for the Bitcoin market. Thielen implies that Gensler, whose term officially ends on June 5, 2026, would resign by January or February 2025 if Trump is elected.
Criticisms of Crypto Policy
Trump’s running mate J.D. Vance also criticized Gensler, calling him the “worst person” to regulate cryptocurrencies due to his outdated and overly politicized approach to crypto policy.
This criticism strengthens the possibility of Gensler resigning under a Trump administration. Thielen points to several bullish factors for the crypto market, indicating potential positive developments in the near future. There are news and rumors that Trump might make a significant announcement at a Bitcoin conference in Tennessee on July 25.
Increased Hopes for Bitcoin’s Future
There is speculation that Trump could declare Bitcoin a strategic reserve asset, and Thielen believes this could trigger a parabolic increase in Bitcoin’s price. Thielen advises investors not to take profits or short Bitcoin before Trump’s speech, suggesting that Bitcoin could surpass its all-time high of $73,777 following a significant move expected in the coming months.
Despite political uncertainty in the U.S., many analysts remain optimistic about the future of Bitcoin and the cryptocurrency market. It is believed that the worst of Bitcoin’s price movement is behind us due to the German government’s sales and the collapse of the crypto exchange Mt. Gox. Analysts suggest that the crypto market is poised for recovery and growth, supported by positive political developments and increased Bitcoin adoption.
