Analyst from one of crypto’s biggest asset managers says that any outcome of the November elections will be bullish for Bitcoin.
Matthew Sigel is the head of VanEck’s digital asset research. He says the US election results will have an impact on crypto, regardless of the party that wins.
Sigel claims that Donald Trump and Kamalah Harris are both bullish on Bitcoin. However, their views have only subtle implications.
Sigel says both candidates are likely to maintain or increase fiscal spending, which will lead to more quantitative easing.
Sigel believes that Bitcoin will outperform the crypto market if Kamala Harris wins the election in November.
Imagine that Kamala Harris retained Gary Gensler, the SEC chair. Or, if she aligned herself with the Elizabeth Warren faction of the Democratic Party in terms of finance policy. This is becoming increasingly probable. The digital asset industry is likely to face a more restrictive regulatory environment in this case. This would further limit domestic entrepreneurial activity and dampen the adoption of digital assets by institutions.
If we were to focus on Bitcoin, we might argue that Kamala Harris’ presidency would be better for Bitcoin, than Trump’s second term, because, according to us, it would accelerate the structural problems that drove Bitcoin adoption.
“If that happens, Bitcoin will be even more competitive than digital assets due to its unique regulatory clarity.”
Sigel, on the other hand, says that the company believes another four years under Donald Trump will be “generally positive for the entire cryptocurrency ecosystem”, as it is expected to be more friendly to business, and perhaps to crypto in particular.
This suggests a weakening of the U.S. dollar, a macroeconomic environment in which Bitcoin has historically thrived. It suggests that the U.S. Dollar will weaken, creating a macroeconomic climate in which Bitcoin thrives .”
Bitcoin currently trades at $63,769, an increase of 1.12% over the last day.
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The post Bitcoin (BTC), Will Survive Regardless of US Election Results, Says Matthew Sigel from VanEck may be updated as new information becomes available.
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