Dan Tapiello, founder of 10T Holdings, said on October 10 that the results of the US election will not change the bullish trajectory of cryptocurrencies such as Bitcoin (BTC), and that no matter which presidential candidate wins, cryptocurrencies will continue to grow. said it is likely to reach $100,000 per coin.
Dan Tapiello during a panel discussion at the Permissionless conference. Source: Cointelegraph
“I don't think it really matters. Everything is going well right now. The election will pass,” Tapiello said during a panel discussion at the Permissionless Conference in Salt Lake City, Utah. Ta.
“Bitcoin is a proxy” [for cryptocurrency generally]I believe it will reach $100,000 relatively soon. [assets] It will continue,” Tapiello said.
Bitcoin quarterly profits since 2015. Source: CoinGlass
Related: Hedge funds say the US election results won't slow Bitcoin's rise in the fourth quarter
In November's US presidential election, Republican presidential candidate Donald Trump has said he wants to make the US the “crypto capital of the world,” while Democratic Party candidate Kamala Harris has remained relatively silent on the industry. fight.
The U.S. Securities and Exchange Commission (SEC) has taken an aggressive stance against alleged violations by crypto companies, and many industry insiders view the Democrats, who currently control the White House, as anti-crypto. .
President Trump has promised to “fire” current SEC Commissioner Gary Gensler.
Since September, Harris has ramped up her cryptocurrency strategy, naming blockchain technology among several emerging technologies in which she hopes the United States will “continue to dominate.”
On October 2, Gurbir Grewal, the SEC's executive director, resigned, perhaps signaling a change of direction from within the current administration.
Meanwhile, some Trump supporters in the cryptocurrency industry have argued that the former US president “lost votes” after he debuted a Trump-linked cryptocurrency project in September that drew widespread criticism. are.
Three out of four crypto holders said a candidate's crypto policies influence how they vote. Source: Gemini
According to CK Jen, head of investments at ZX Squared Capital, the price of Bitcoin will benefit from the upcoming presidential election, regardless of who wins.
The impact of April's Bitcoin halving event has historically led to strong fourth quarters, and both U.S. presidential candidates have failed to address key issues that could favor Bitcoin. Zheng told Cointelegraph on September 30th.
“This will be extremely bullish for Bitcoin, especially after the US election, as neither Republicans nor Democrats have adequately addressed the ever-increasing US debt and budget deficit during this election,” said Zheng. he said.
Meanwhile, blockchain technology continues to gain momentum, with billions of dollars of institutional capital flowing into BTC and Ethereum funds by 2024.
“This movement to put all the value on the blockchain is bigger than one election, and I think […] The tide continues to grow and it is also global,” Tapiello said.
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