Park’s point of view is consistent with the opinions of many experts who believe a Trump victory might be a trigger for skyrocketing crypto asset values. Based on Trump’s proposals, which are expected to drive the rise in the crypto market, Bitcoin enthusiast and millionaire Erik Finman has even speculated that Bitcoin could reach $101,000.
Embedding a pro-crypto message into his 2024 campaign, Trump is promoting the United States as the expected “crypto capital of the world.” Single-issue crypto supporters have also responded well to his vow to oust SEC Chair Gary Gensler. Many people have come to believe that a Trump-led government will aid in the growth of the digital asset industry, potentially supporting Bitcoin and other cryptocurrencies.
Charting $BTC price against Trump’s odds (via @Polymarket) from 8/15 to 10/20 reveals some wild swings—particularly when Harris and Trump took turns leading. By applying merger arb-style probability math, I project a Trump victory could push BTC to ~$92,000
— Jeff Park (@dgt10011) October 22, 2024
Take that as you will pic.twitter.com/OGy8M3Vju1
On the long run, several well-known financial personalities, including billionaire investor Mark Cuban, are less hopeful about how a Trump presidency will affect the crypto market. Although Trump acknowledges that Bitcoin would see an early surge, he cautions that several of his suggested economic policies—including additional tariffs—may cause inflationary pressures that will finally stifle Bitcoin’s expansion.
On Polymarket’s betting platform, Trump has an 18.8% edge, while national surveys show Kamala Harris has a meager 1.8%. This discrepancy between popular perception and betting markets adds an intriguing dimension to the potential impact of a Trump victory. Regarding the crypto market.
If Trump wins the election, financial giants and even artificial intelligence projections suggest that Bitcoin could experience substantial surges, thereby reinforcing the connection between politics and cryptocurrency. It remains uncertain, however, whether a brief surge in Bitcoin’s value will lead to consistent growth for the broader market.
