The head of BlackRock: the new US president will not affect Bitcoin
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Johny Smith
2024/11/04
3 mins read
The cryptocurrency community continues to monitor events related to the upcoming US elections. According to the popular betting platform Polymarket, Donald Trump has again emerged as a confident leader. Users expect a 56.3% chance of winning the Republican candidate. If we talk about Kamala Harris, then 43.3% of investors believe that she will become the next President of the United States.
Donald Trump is considered a friendlier candidate to the cryptocurrency segment. At the same time, many experts note that Kamala Harris may initiate stricter regulation of this niche. BlackRock CEO Larry Fink recently spoke out about this situation. According to him, the results of the upcoming elections will not have much impact on the dynamics of the main digital coin.
The specialist emphasized that bitcoin is a representative of a separate class of assets that do not fit into the framework of global politics. “I doubt that the new president will change anything constructively in the context of cryptocurrencies. Nevertheless, this investment instrument will continue to attract more and more institutional investors,” says Larry Fink.
The upcoming US election helped the prediction market grow by more than 565% in the third quarter of this year to reach $3.1 billion. According to CoinGecko, this jump is due to the fact that as the US election approaches, users are making bets more actively.
At the moment, the most famous specialized decentralized platform remains Polymarket. Its market share in the betting segment reached 99% at the end of last month. It is also worth noting that over 46% of the annual volume of transactions on the site occurred precisely during the outcome of the presidential elections in the United States.
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