- Gary Gensler’s potential exit from the SEC sparks optimism in the crypto community
- Michael Saylor dismisses Bitcoin retracing to $60K, projecting $100K by year-end
- Ripple’s Brad Garlinghouse expects a pro-crypto shift under Trump’s administration
This just in: SEC Chairman Gary Gensler has put out a statement that could only hint at his probable departure from the commission. That said, he stopped just short of confirming the decision, and the cryptoverse is all agog with speculation.
Honestly, this feels like one of those moments where the entire industry holds its breath, doesn’t it?
Ripple’s CEO and Chairman of MicroStrategy Respond
Unsurprisingly, the potential departure of Gensler sent shockwaves through the crypto community. In particular, Ripple CEO Brad Garlinghouse and MicroStrategy Executive Chairman Michael Saylor immediately took to Twitter to share their views on how this might reshape the industry.
In one post on X, Garlinghouse was fairly assertive in stating that Gensler probably has his “last days in office.” During Cantor’s Annual Crypto Conference, Garlinghouse took his critique to a whole new level by wearing a T-shirt that said, “F**k The SEC.”
That’s a statement, isn’t it? He also said the hope lies with Trump’s administration, where there would be a pro-crypto SEC chairperson who could very well position the U.S. as a global leader in cryptos.
In an interview with CNBC, Michael Saylor shared a different perspective: the potential departure of Gensler could be “incredibly bullish” for the crypto industry. He went further, saying that such a change could finally end the SEC’s “war” against digital assets and clear the way for more pro-Bitcoin policies.
Saylor: Bitcoin Won’t Fall to $60,000
Speaking about Bitcoin, Saylor dismissed the idea of it retracing to $60,000, a critical level for many analysts in 2024.
“I don’t think we’ll see $60,000, let alone $30,000. I believe Bitcoin is only going up from here,” he said.
At the time of writing, Bitcoin is trading around $89,500.
And, honestly, who doesn’t love a bit of undiluted optimism like that? Saylor credited Trump’s win for the confidence, saying it set in stone Bitcoin’s future in the U.S. “I don’t see any short-term threats on the horizon,” he continued.
A Party for $100,000 Bitcoin
Like any true Saylor, he also announced plans to celebrate Bitcoin hitting $100,000. “I’m going to have a party on $100,000,” he confessed. “I’m thinking of having it on New Year’s Eve at my house. I wouldn’t be surprised if we don’t go over $100,000 in November or December.”
Can you imagine the energy at that party? It feels like a reflection of the confidence sweeping the crypto space right now.
Conclusion
With Gensler potentially leaving the SEC, the crypto world is bracing itself for monumental changes. Garlinghouse, Saylor, and other leaders seem rightly optimistic, given the changes that might be expected with more crypto-friendly policies and even greater Bitcoin growth.
And with Bitcoin creeping ever closer to $100,000, the dream that Saylor pinned his hopes on seems less fantastical, increasingly assuming the aspect of a reality gestating before our very eyes.
