This website uses cookies to ensure you get the best experience on our website


20th Nov 2020
CryptoAltum Research Team

SEC Chair: Bitcoin is Rallying Because of Inefficiencies In Traditional Systems

Jay Clayton, the chair of the United States Securities and Exchange Commission (SEC), in an interview with CNBC’s Squawk Box, confessed that traditional legacy payment mechanisms are inefficient. Their inefficiencies are pumping Bitcoin prices, a digital asset classified as a utility, and a store of value by the strict agency.


How regulators view cryptocurrencies can be supportive or destructive. Bitcoin has the “hall pass” as Brad Garlinghouse the CEO of Ripple, once said. The digital asset has been rallying in recent days. At the back of varying fundamentals pinned on several factors like the political fix in the United States, the Bitcoin miner cash crunch in China, and inflation fears around the globe, Bitcoin is benefiting from capital injection from retailers and institutions. Investors consider the digital asset as a reliable store of value. They are now confident enough to shift their valuables, protecting themselves from inflation and even government seizure in extreme cases.

The Impact on the BTC Price: 

Bullish. Jay’s admission that there is a problem with traditional payment systems is a confirmation that Bitcoin is superior and perfect as a ship in the current financial storm. The coin’s inherent properties make it a superior vehicle for investors seeking value.

More market updates on our Blog 

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020