Under family office and private client control at Swan Bitcoin, Steven Lubka notes that BTC will finally hit six figures regardless of who wins the next U.S. election.
Though from a political standpoint controversial, many investors are sure that Bitcoin will shine moving forward. Lubka notes he “certainly believes the BTC will surpass $100,000 by 2025.”
Lubka claimed in an interview with CNBC that events overseas will most likely influence Bitcoin’s course more than the result of the American election. The latest comments supporting cryptocurrencies by former President Trump reflect the growing political divide among BTC enthusiasts.
When Trump made positive remarks on cryptocurrencies, many first felt hopeful. Still, consumers are considering what Bitcoin might bring going forward even as hope is withering.
In accordance with Lubka, James Davies, co-founder of Crypto Valley Exchange, claimed that concerns regarding the impact of a Kamala Harris government on Bitcoin are most likely not grounded on data. According to Davies, changes in the economy as a whole influence BTC as a worldwide asset more than changes in political environment of a nation.
He did concede, though, that under a Harris government crypto businesses would run legal problems. He said, “Crypto needs to petition both sides, align with both sides, and succeed regardless of the election.”
Bitcoin’s Value Expected To Rise Despite U.S. Election Outcome
Engine for Forecasting Polymarket claims that both candidates have identical chances of winning (49%), hence the argument between Donald Trump and Kamala Harris on September 10 attracted people even more in politics. Following his attendance at the Bitcoin 2024 conference in Nashville, which thrilled proponents of cryptocurrencies, Trump’s prospects in July had dropped to 72%.
However, the argument made the BTC market more negative, which virtually 2% decreased the value of all cryptocurrencies worldwide.
Though experts agree that larger macroeconomic factors like inflation and global monetary policy will determine the price of Bitcoin, the U.S. election will not be decisive here. This is valid even if the market is momentarily declining. Notwithstanding political changes, experts in the sector all agree that Bitcoin’s value will keep rising.
Buyers of BTC are still preoccupied with long-term expansion as the 2024 election gets ready. Whichever candidate wins the election, they expect BTC will hit six figures in the following few years.
Lubka claimed in an interview with CNBC that events abroad were more likely to influence the course of Bitcoin than the result of the American election. Former President Trump lately claimed to be in favour of cryptocurrencies.
This indicates that the Bitcoin community is become increasingly divided along political front. When Trump made positive remarks regarding cryptocurrency, initially people were thrilled. Though hope is diminishing, many individuals are still considering what BTC could bring about going forward.
