"Cryptocurrency Rise, Asset Perception Change Issue"
Emphasizes the change in upward trend due to the election of both candidates
"Harris, Bitcoin...Trump, Altcoins"
Matthew Siegel, VanEck's cryptocurrency chief, explained in a report published on the 9th that cryptocurrency price increases are determined by market sentiment and investor confidence rather than politics.
The cryptocurrency community has been extremely nervous lately due to the conflicting stances of the two leading candidates for the US presidency on cryptocurrencies. Former President Trump, who is running as the Republican candidate, has already expressed his active support for cryptocurrencies, while Vice President Harris, who is running as the Democratic candidate, has not shown much interest in cryptocurrencies.
There are interpretations both inside and outside the market that the cryptocurrency market's fortunes will vary greatly depending on the results of the US presidential election in November. General Manager Siegel has come out to directly refute these voices.
He said, "Even if Harris is elected, the growth of cryptocurrencies will not be significantly hindered," and explained, "The growth of the cryptocurrency market is ultimately a change in the perception of cryptocurrencies as assets."
Siegel said that the election of both candidates could change the upward trend of Bitcoin (BTC) and altcoins.
He emphasized that "if Harris is elected, government spending will increase and more money will be printed, which will greatly increase the value of Bitcoin as a hedge against inflation."
He continued, "If Trump is elected, altcoins will see a significant increase due to Trump's cryptocurrency-friendly policies."
Reporter Kwon Seung-won ksw@
