Trump's Deregulation Push and Wall Street's Embrace Signal Major Growth for Bitcoin, Says Former TD Ameritrade CEO

Trump's push for business deregulation could really boost Bitcoin's growth and attract more institutional investors. Joe Moglia, the former CEO of TD Ameritrade, sees Wall Street's acceptance of Bitcoin as a major change. He believes it’s becoming a key player in the financial world.

In a recent chat with CNBC, Moglia made it clear: Bitcoin (BTC/USD) is here to stay. He pointed out that just a few years ago, many in traditional finance dismissed cryptocurrency. Now, that attitude is shifting dramatically.

“Bitcoin is legitimately here to stay,” Moglia said. “I think it’s going to have significant growth ahead of it.” He also mentioned that the new administration is likely to create a friendlier environment for cryptocurrencies. With changes in regulations under Trump, along with moves from big Wall Street firms, Bitcoin's role in finance is solidifying.

Moglia noted, “Trump wasn’t a big fan of Bitcoin before, but now he’s Mr. Bitcoin.” He was referring to Trump’s recent support for creating a U.S. strategic Bitcoin reserve and encouraging innovation in the crypto space.

Recent developments, like plans to lower taxes and deregulate finance and cryptocurrency sectors, are seen as a big win for Bitcoin and other major digital assets, such as Ethereum (ETH/USD). Moglia highlighted that even critics, like Jamie Dimon from JPMorgan, are starting to accept cryptocurrencies in mainstream finance.

His positive outlook fits right in with the upcoming Benzinga's Future of Digital Assets event on November 19. Industry leaders will gather to discuss the latest trends, regulatory changes, and investment opportunities in the ever-evolving cryptocurrency market.