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Trump's executive order is good for cryptocurrencies: 401(k) allocation of 1% or $90 billion in funds
Analyst Dragonfly partners estimate that if only 1% of 401(k) pension account assets are allocated to cryptocurrencies, about $90 billion in new funds can be injected, equivalent to nearly 5% of the current total crypto market capitalization.
If all of them are used for Bitcoin, there will be about 810,000 demand for them; If you invest all Ethereum, you will need 22.5 million coins.
This executive order is a major positive for the crypto industry and is Trump's latest move to support crypto. Previously, the US Congress had passed a number of related bills.
The head of global market insights at Hashdex Asset Management, an asset management company focusing on cryptocurrencies, said: Bitcoin has gone beyond the pure speculative stage and is gradually integrating into investors' long-term strategies. The executive order will accelerate this trend.
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