Nigel Green, CEO of financial advisory giant Devere Group, believes bitcoin could hit unprecedented highs if former U.S. President Donald Trump wins the upcoming U.S. presidential election. Green stated on Tuesday:
A Trump victory could be the catalyst that pushes the world’s first and largest cryptocurrency into uncharted territory as his return to office would likely have a renewed emphasis on deregulation, tax incentives, and economic policies favourable to alternative investments, such as bitcoin.
Green pointed out that during his campaign, the former U.S. president “positioned himself as the pro-Bitcoin candidate, speaking in favour of digital currencies,” noting that “Trump has also criticized the excessive influence of centralized financial institutions and has pledged to reduce regulatory constraints on digital assets if re-elected.” The Devere executive emphasized: “This outspoken support has earned him recognition within the crypto community, with many investors viewing his potential return to office as an important bullish signal for bitcoin.”
Moreover, Green suggested that Trump’s deregulatory focus could encourage greater investment in digital assets, especially bitcoin. “Should he return to office, Trump’s focus on deregulation might extend to cryptocurrency markets, providing a friendlier environment for digital assets like bitcoin,” he explained.
The former president’s previous term included corporate tax cuts that spurred market liquidity and growth in high-risk assets, a trend Green expects could continue. He opined:
Similar fiscal policies could be reintroduced, creating an environment ripe for bitcoin’s price appreciation. This potential policy outlook adds a sense of urgency for investors to secure their positions in the leading crypto.
With rising concerns about global economic shifts, Green noted, “This uncertain landscape makes bitcoin an attractive alternative for investors looking to hedge against traditional market risks, spurring a demand that could propel bitcoin to new highs.” He added that a Trump re-election “would bring even more institutional money into bitcoin, driving its price higher. If Trump advocates for more crypto-friendly policies, it would reinforce the digital asset’s standing in mainstream finance.” Concluding his outlook, Green asserted:
A Trump victory, we believe, could spark a substantial rally for bitcoin as investors look to capitalize on potential policy shifts and a pro-business outlook. Given bitcoin’s current positioning just below its all-time high, this election may be the spark that sends it to new records.
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