Todd Gordon, founder of Inside Edge Capital, has predicted that Bitcoin BTC/USD could surpass the $100,000 mark this year, amid the formation of a pro-crypto presidential ticket featuring Donald Trump and J.D. Vance.
What Happened: On Monday, Gordon expressed his bullish outlook on Bitcoin during CNBC’s “Last Call.”
“I see no reason that we can’t hit over $100,000 this go around,” he stated, citing the pro-crypto stance of the potential Trump-Vance presidential ticket as a contributing factor.
“Along with the market, and provided the interest rates, the regulatory backdrop…we should be able to make that move this year.”
See Also: Odds Of Trump Presidency Raised To All-Time High By Crypto Bettors After Assassination Bid
This prediction comes in the wake of Bitcoin’s value soaring past the $60,000 mark following an assassination attempt on Trump.
Why It Matters: Trump’s known pro-crypto stance has led to speculation about his chances of re-election, which seem to be on the rise. His choice of a pro-crypto running mate has been viewed as a positive move by many in the crypto community. Trump’s announcement came during the Republican National Convention, causing a stir in the political and financial spheres.
Furthermore, Vance’s pro-crypto leanings and his significant Bitcoin holdings could influence future legislation in favor of cryptocurrencies.
Analysts at Bernstein have suggested that Bitcoin miners could enjoy a “Goldilocks scenario” influenced by the “Trump factor.” This scenario includes a higher likelihood of pro-Bitcoin political change and the U.S. becoming a focal point for Bitcoin miners. Bitcoin’s price initially fell after the assassination attempt but rebounded strongly, a move some have dubbed the “Trump pump.”
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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