Bitcoin May Hit Fresh All-Time Highs On Trump Victory, deVere Group CEO Predicts

Bitcoin is likely to reach fresh all-time highs should Donald Trump win the US presidential election, predicts the CEO of one of the world’s largest independent financial advisory and asset management organizations.

The bullish prediction from deVere Group’s Nigel Green comes a week ahead of the down-to-the-wire race for the White House between former president Trump and Vice President Kamala Harris.

Bitcoin is currently around $71,000 (on Tuesday morning, GMT). The highest price paid for Bitcoin (BTC) is $73,737 which was recorded on March 14 2024.

The deVere CEO comments: “A Trump victory could be the catalyst that pushes the world’s first and largest cryptocurrency into uncharted territory as his return to office would likely have a renewed emphasis on deregulation, tax incentives, and economic policies favorable to alternative investments, such as Bitcoin.”

He continues: “During the campaign, he’s positioned himself as the pro-Bitcoin candidate, speaking in favor of digital currencies.

“Trump has also criticized the excessive influence of centralized financial institutions and has pledged to reduce regulatory constraints on digital assets if re-elected.

“This outspoken support has earned him recognition within the crypto community, with many investors viewing his potential return to office as an important bullish signal for Bitcoin.”

Investor anticipation of policy shifts that many expect from a second Trump administration is likely to fuel a rally.

The former president’s pro-business stance is often associated with easing regulatory constraints and implementing fiscal policies that encourage investment in unconventional assets.

“Should he return to office, Trump’s focus on deregulation might extend to cryptocurrency markets, providing a friendlier environment for digital assets like Bitcoin,” notes Nigel Green.

Furthermore, Trump’s previous term was marked by substantial corporate tax cuts, which injected additional liquidity into markets, fostering investment in high-growth assets.

“Similar fiscal policies could be reintroduced, creating an environment ripe for Bitcoin’s price appreciation. This potential policy outlook adds a sense of urgency for investors to secure their positions in the leading crypto.”

The former President’s economic stance, often marked by bold decisions and an ‘America First’ approach, could heighten concerns about potential shifts in global trade and US foreign policy.

The deVere CEO affirms: “This uncertain landscape makes Bitcoin an attractive alternative for investors looking to hedge against traditional market risks, spurring a demand that could propel Bitcoin to new highs.”

In recent years, institutional interest in Bitcoin has grown, with large-scale investors, hedge funds, and even public companies allocating portions of their capital to digital assets. This trend has lent additional legitimacy to Bitcoin and has reduced volatility, making it more accessible to mainstream investors.

A Trump victory might accelerate this trend by promoting a regulatory environment conducive to institutional involvement in the cryptocurrency market.

“Such a scenario would bring even more institutional money into Bitcoin, driving its price higher. If Trump advocates for more crypto-friendly policies, it would reinforce the digital asset’s standing in mainstream finance.”

His potential re-election could also impact the Federal Reserve’s monetary policy stance and the strength of the US dollar, factors that indirectly affect Bitcoin’s price. If his policies lead to a weaker dollar, investors may flock to Bitcoin as a store of value, spurring further demand and pushing prices upward.

Nigel Green concludes: “A Trump victory, we believe, could spark a substantial rally for Bitcoin as investors look to capitalize on potential policy shifts and a pro-business outlook.

“Given Bitcoin’s current positioning just below its all-time high, this election may be the spark that sends it to new records.”