VanEck Believes Donald Trump’s Victory in US Presidential Election Will Benefit Bitcoin

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During his time as US President, Donald Trump expressed his concerns about Bitcoin multiple times. In 2019, he used Twitter to criticize the use of cryptocurrency by criminals, stating that he believes the US dollar to be the strongest financial tool in the world, unmatched by any other asset.

Investment firm VanEck has suggested that if Trump wins the 2024 US presidential election, it could potentially benefit the price of Bitcoin.

Analysts Matthew Siegel and Patrick Bush predict that under Trump’s leadership, there could be a decrease in interest rates and pressure on the Federal Reserve to ease monetary policy, leading to an increase in risk-taking and investment in the technology sector, including digital currencies.

As a result, BTC could potentially reach $100,000 by the end of 2024. In May, VanEck also predicted a rise in the price of Ether to $11,850 by 2030, with a possibility of reaching $51,000 in a bullish scenario.