At the Permissionless conference in Salt Lake City, Utah, on October 10, Dan Tapiero, founder of 10T Holdings, asserted that the outcome of the upcoming US presidential election will not affect Bitcoin's bullish trajectory. He predicts Bitcoin could reach $100,000 per coin soon, regardless of whether Republican nominee Donald Trump or Democrat Kamala Harris wins.
Tapiero emphasized that Bitcoin serves as a proxy for the broader cryptocurrency market, which is currently experiencing upward momentum. He noted that the election would not disrupt this trend.
The election sees Trump advocating for the US to become 'the crypto capital of the world,' while Harris has been less vocal about cryptocurrency. The current administration, led by Democrats, faces criticism from the crypto industry for its regulatory stance, particularly from the SEC.
CK Zheng of ZX Squared Capital also highlighted that Bitcoin’s price will benefit from the election dynamics, suggesting that both candidates have overlooked critical economic issues that could bolster Bitcoin's appeal. He noted that the historical impact of Bitcoin halving events typically leads to strong fourth-quarter performance.
As institutional investment in Bitcoin and Ethereum continues to grow, Tapiero concluded that the shift towards blockchain technology transcends political events, indicating a global trend.