Donald Trump won the US presidential election on Tuesday, but Bitwise Chief Investment Officer Matt Hougan thinks crypto is already on a long-term path to adoption regardless of who takes over the White House.
Hougan noted in a recent pre-election analysis that a Trump victory would help reduce regulatory risk for altcoins.
However, the CIO also said the company was bullish on Bitcoin (BTC), Ethereum (ETH) and stablecoins regardless of the outcome.
“Our view is that regardless of who wins on Tuesday:
- The influx of spot crypto ETFs will continue
- Stablecoins will continue to grow rapidly
- Institutions will continue to “start from scratch” and add allocations to cryptocurrencies
- Wall Street will continue to embrace tokenization and real assets
- Blockchains will become increasingly 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, especially in the short term. But the way I see it, in the long run, Tuesday will prove to be something between a speed bump and a gust of wind. Neither will 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 commit to the space.”
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Generated image: Midjourney