VanEck Head of Digital Assets Research Matthew Sigel said Bitcoin would not necessarily fare poorly if Democrats returned to power, arguing that former President Joe Biden was not anti-Bitcoin.

Speaking on CNBC on Wednesday, Sigel said Republicans have repeatedly portrayed Democrats as hostile to crypto, pointing to enforcement actions taken by regulators under Biden against digital asset companies. He said that view does not apply equally to Bitcoin, which has often been treated differently from the broader crypto market in policy debates and enforcement discussions.

“Biden was actually okay for Bitcoin,” Sigel said. “It’s the rest of cryptos that might have a problem [if Democrats get back in power].”

He added, “With the ascendant socialist wing of the Democrat Party, I can tell you here in New York City that there are plenty who are reminded of why there is value in a decentralized, scarce asset that can’t be printed and spent on nonsense.”

President Donald Trump has campaigned as a supporter of the digital asset industry and has issued several pro-crypto executive orders, including one that established a Bitcoin Strategic Reserve. Bitcoin rose sharply after Trump’s 2024 victory and reached a new record last year.

After several sluggish months in 2026, Bitcoin began rising again last week after Trump urged lawmakers to advance the long-delayed crypto Clarity Act. Bitcoin has climbed nearly 24% over the past seven days, reaching as high as $81,160 this week before falling back to $78,438.

Lawmakers supporting crypto had hoped to pass the Clarity Act before Congress left for its August recess, but the vote was pushed to September after Democrats objected to the latest draft. Some Republican senators have accused Democrats of intentionally delaying the legislation.

The Clarity Act is intended to create a legal framework for classifying digital assets as securities, commodities, or payment stablecoins, and for determining which regulator has oversight of each category.

Sigel’s remarks align with comments from Coinbase Chief Policy Officer Faryar Shirzad, who said in July that crypto was “maybe the most bipartisan issue in Washington.”

Discussing the delay in the Clarity Act vote, Shirzad said that while some lawmakers were holding back the legislation, younger Democrats supported the framework. “A lot of the opposition is generational — so it is Democrats who oppose it — but I think younger members who understand the technology, understand that money is transforming how we should engage financially, how we need to adapt, and so it’s really a generational shift,” he said on The Hill’s Rising show.

This article first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.