As 2025 begins, there is wind in the crypto market, especially given the current macro and political backdrop, according to Grayscale’s Zach Pandle. “It’s been a great year not just for cryptocurrencies, but for many other assets,” the firm’s managing director of research told CNBC’s Tanaya Machel in this special ProTalk discussion available to all readers. I told Mr. “That’s largely because the economy avoided a recession… Even though there were good outcomes for the economy, the Federal Reserve was cutting interest rates. That macroeconomic environment was going to be good for Bitcoin. Bitcoin had a record year in 2024, surging more than 100% and topping $100,000 for the first time. The launch of the Spot Bitcoin ETF also boosted the flagship digital currency along with Donald Trump’s re-election. During his campaign, Trump took a more crypto-friendly stance, leading to support from the industry and expectations for deregulation of crypto investment. “Thanks to ETFs, this is now a mainstream asset that is included in many types of portfolios,” Pandle said. “This issue is going to be a regular topic of discussion among regulatory policy officials in the White House, so it’s here to stay.” (Pro subscribers can read the full interview here. ) Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.