Despite the growing partisan divide in the cryptocurrency space, many believe bitcoin will endure and prosper in the long term, regardless of the outcome of the U.S. presidential election in November.

This perspective has gained traction among crypto investors as the initial excitement around former President Donald Trump’s pro-crypto stance over the summer has started to fade.
 

“Do I think we’ll be in the six figures by 2025? Almost certainly. Do I think we’ll be in the six figures regardless of who wins? Almost certainly,” said Steven Lubka, head of private clients and family offices at Swan Bitcoin. 

“Bitcoin has always been an investment that is rooted more in the fiscal and monetary profile of countries, sovereigns and the United States,” Lubka added. “Neither candidate changes that.”
 

Kamala Harris presidency would somehow limit the price of bitcoin
 

Fears that a Kamala Harris presidency would limit or lower Bitcoin’s price are overblown, said James Davies, co-founder of Crypto Valley Exchange. While Davies acknowledges that tighter regulations could present challenges for crypto startups, he believes the industry is resilient and will continue to push forward. According to him, the cryptocurrency space has faced numerous regulatory hurdles in the past, and each time, it has adapted and thrived.

One key factor that supports Bitcoin’s prices, Davies noted, is its increasing institutionalization. This year, the introduction of U.S. Bitcoin exchange-traded funds (ETFs) has brought more legitimacy and broader acceptance to the cryptocurrency. With institutional investors now having easier access to Bitcoin through regulated channels, the digital asset has become more integrated into traditional financial markets. This makes it less vulnerable to any one political administration or regulatory shift.

Davies believes that while startups may face some headwinds, the broader crypto industry will continue to evolve and innovate. The demand for Bitcoin and blockchain technology will likely persist, driven by growing interest in decentralized finance (DeFi) and the increasing use of blockchain in various industries. As a result, the outlook for Bitcoin remains positive despite potential political changes.


“Some of our communities … have become echo chambers and are convinced the sky will fall if one side or the other wins,” Davies said. “The truth is that the market is robust, not centered on the U.S., and hasn’t reacted negatively to major events from either side” of the partisan divide.

“This is about opportunities and regulation for U.S.-based users, not[the] price of a global commodity,” he added. “Crypto needs to learn from traditional finance, it needs to lobby both sides, align with both sides and succeed regardless of the election. If we want to build a big eco-system, we cannot afford to be partisan.”

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