Donald Trump won the US presidential election on Tuesday, but Bitwise chief investment officer Matt Hougan thinks crypto was already on a long-term path to adoption regardless of who took the White House.
Hougan noted in a recent analysis prior to the election that a Trump victory would help reduce regulatory risk for altcoins.
However, the CIO also said the firm was bullish on Bitcoin (BTC), Ethereum (ETH) and stablecoins regardless of the outcome.
“Our view is that regardless of who wins on Tuesday:
- Spot crypto ETF inflows will continue
- Stablecoins will continue to grow rapidly
- Institutions will continue to ‘get off zero’ and add allocations to crypto
- Wall Street will continue to embrace tokenization and real-world assets
- Blockchains will continue to get faster and cheaper
- Real-world applications like Polymarket will continue to break through and gain mainstream adoption
Make no mistake: What happens in Tuesday’s election matters, particularly in the short term. But as I see it, over the long term Tuesday will prove to be something between a speed bump and a wind gust. Neither is going to stop this train.”
On Wednesday after the election, Hougan argued that a new, pro-crypto regulatory environment will be “a game-changer.”
“A pro-crypto regulatory environment will provide air cover for institutional investors who have long wanted to allocate to the space.”
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1 Comment
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