Donald Trump gained the US presidential election on Tuesday, however Bitwise chief funding officer Matt Hougan thinks crypto was already on a long-term path to adoption no matter who took the White Home.
Hougan noted in a current evaluation previous to the election {that a} Trump victory would assist scale back regulatory danger for altcoins.
Nevertheless, the CIO additionally mentioned the agency was bullish on Bitcoin (BTC), Ethereum (ETH) and stablecoins whatever the consequence.
“Our view is that no matter who wins on Tuesday:
- Spot crypto ETF inflows will proceed
- Stablecoins will proceed to develop quickly
- Establishments will proceed to ‘get off zero’ and add allocations to crypto
- Wall Avenue will proceed to embrace tokenization and real-world property
- Blockchains will proceed to get sooner and cheaper
- Actual-world purposes like Polymarket will proceed to interrupt by and acquire mainstream adoption
Make no mistake: What occurs in Tuesday’s election issues, significantly within the quick time period. However as I see it, over the long run Tuesday will show to be one thing between a pace bump and a wind gust. Neither goes to cease this prepare.”
On Wednesday after the election, Hougan argued {that a} new, pro-crypto regulatory surroundings can be “a game-changer.”
“A professional-crypto regulatory surroundings will present air cowl for institutional buyers who’ve lengthy needed to allocate to the house.”
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