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US election: bitcoin wins no matter what

US election: bitcoin wins no matter what

QuickTake

1 minute read

  • Many people all over the world have got their eyes focused on the United States presidential elections that are set to take place next week. 
  • Donald Trump and Joe Biden are the two main candidates up to get the keys to the White House.

Many people all over the world have got their eyes focused on the United States presidential elections that are set to take place next week. Donald Trump and Joe Biden are the two main candidates up to get the keys to the White House.

Many experts believe that the outcome of the election may not have a massive impact on bitcoin but others believe that it is more likely to add more fuel to the fire if anything. 

The chief executive officer of Grayscale, Barry Silbert has given his opinion on the outcome of the presidential election.

Taking to Twitter, the CEO gave his opinion that the outcome of the election wouldn’t give incentive to the government to stop printing more money and fuelling the inflation rate that is increasing by the day.

Essentially, what the CEO is implying by the tweet is that neither two candidates are likely to stop printing money and that is all that the King coin is bothered about. Essentially, bitcoin wins no matter what.

A report from Grayscale indicates that the leading cryptocurrency has been on a positive trend for the most part of 2020. You probably didn’t need a report to tell you that but this means that tension caused by the election isn’t particularly having an impact on the bitcoin market, especially not in a negative way. Last year, only 36% of investors based in the United States showed a keen interest in adopting bitcoin, and this year that number has gone up to 55%.

As expected, this positive trend can be put down to the increasing amount of potential investors whether on an institutional level or a retail level.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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