An expert from a leading crypto asset management company predicts that the outcome of the November election will have a positive impact on Bitcoin (BTC). In a recently published report for VanEck, Matthew Sigel, the head of digital asset research at the firm, explains that regardless of which party wins, the US federal election is likely to significantly affect the crypto industry in a bullish way for Bitcoin.

Sigel suggests that both Kamala Harris and Donald Trump are supportive of Bitcoin, although there may be subtle differences in their approach to digital assets. He further explains that both candidates are expected to continue or potentially increase fiscal spending, which could lead to further quantitative easing (QE). Historically, QE has had a positive effect on the asset class.

If Kamala Harris wins the election, Sigel believes that Bitcoin will outperform the broader crypto market. He argues that if Harris retains Gary Gensler as SEC Chair or aligns closely with the Elizabeth Warren wing of the Democratic Party in terms of finance policy, the digital assets industry in the US may face stricter regulations. This could dampen institutional adoption of digital assets and limit domestic entrepreneurial activity. However, Sigel suggests that this scenario could actually benefit Bitcoin, as it would accelerate the structural issues that drive its adoption. Bitcoin’s unique regulatory clarity would make it even more competitive compared to other digital assets.

On the other hand, Sigel states that another four years of Donald Trump would generally be bullish for the entire crypto ecosystem. The Trump administration is expected to be more business-friendly, particularly towards crypto.

Regardless of the election outcome, Sigel believes that the trend of increasing fiscal deficits and rising national debt will continue. This suggests a weakening of the US dollar, which historically has been a favorable macroeconomic environment for Bitcoin.

As of now, Bitcoin is trading at $63,769, representing a 1.12% increase in the past day.

Please note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. It is important to be aware that transfers and trades are conducted at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor.