Fundstrat Head of Research Tom Lee believes hopes of a Trump election victory in November could boost asset prices \u2013 and that includes Bitcoin.<\/p>\n
\u201cWhen the market becomes more convinced of that, you\u2019ll see cyclicals, small caps, and bitcoin do better,\u201d he told CNBC<\/em> <\/a>on Thursday, \u201cbecause those are clear policy differences.\u201d<\/p>\n According to Lee, the market currently believes that Trump has a higher likelihood of winning than the polls are showing, and it views this as a good thing.<\/p>\n FiveThirtyEight<\/a> currently has Democratic Party nominee Kamala Harris 3.4% ahead of Trump in national polls. By contrast, crypto bettors on Polymarket \u2013 now the world\u2019s largest election prediction pool \u2013 have Trump as a 52% favorite to win.<\/p>\n Trump\u2019s policy differences are widely viewed as being favorable to markets. These include promises to cut the corporate tax rate to 15% (versus Harris\u2019s 28% proposal) and promises to protect Bitcoin in America while establishing a national strategic Bitcoin stockpile.<\/p>\n Trump\u2019s betting odds specifically flipped favorable this week as rumors emerged the Robert F. Kennedy Jr. \u2013 the most popular independent Presidential candidate \u2013 would drop out of the race to endorse Trump by the end of the week. Bitcoin\u2019s price surged<\/a> 4% in response.<\/p>\n \u201cTo me over the last couple of days, it seems like the market is betting on Trump\u2019s odds being better than the polls,\u201d he said.<\/p>\n Lee said that the markets showed \u201ca lot of resilience\u201d following Black Monday earlier this month, when Bitcoin briefly fell to $50,000 despite macroeconomic scares out of Japan. Regardless, he believes the Federal Reserve is \u201cbehind the curve\u201d on interest rates cuts, and that more aggressive cutting going forwards \u201cwould actually make sense.\u201d<\/p>\n Following Lee\u2019s interview, Skybridge Capital co-founder Anthony Scaramucci said<\/a> he still remains bullish on Bitcoin reaching $100,000, albeit later than he once predicted.<\/p>\n Despite regulatory headwinds for crypto in previous years, payment rail systems built on Layer 1 crypto technologies will \u201cadvance our economies\u201d and \u201creduce costs\u201d on transactions globally.<\/p>\n \u201cThe regulatory clearance of the ETF made it safe to go into Bitcoin, for lots of institutional investors,\u201d he added, noting Morgan Stanley\u2019s newfound openness to the products. \u201cThat\u2019s paving the way and making it more acceptable.\u201d<\/p>\n The post Bitcoin Will Surge If Trump Wins The Election: Tom Lee<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Fundstrat Head of Research Tom Lee believes hopes of a Trump election victory in November could boost asset prices \u2013 and that includes Bitcoin. \u201cWhen the market becomes more convinced of that, you\u2019ll see cyclicals, small caps, and bitcoin do better,\u201d he told CNBC on Thursday, \u201cbecause those are clear policy differences.\u201d The Bitcoin Trump […]<\/p>\n","protected":false},"author":0,"featured_media":363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/362"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=362"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/363"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Bitcoin Trump Trade<\/h2>\n
Bitcoin To $100,000, Says Anthony Scaramucci<\/h2>\n