US Elections Will Not Determine Bitcoin's Fate
- Analysts Believe US Elections Will Not Affect Bitcoin Performance
- The adoption and acceptance of cryptocurrency has increased this year
Elections in the United States generally attract the attention of the whole world. Choice tends to have an effect on how everything is being done in all industries around the world. The crypto industry is no different.
And since the elections are just around the corner, many experts in the crypto industry have been watching how the elections could shape the industry.
The general consensus among the cryptocurrency community is that the upcoming elections will not have any negative impact on the performance of Bitcoin or other crypto assets.
Instead, the general belief is that the adoption and acceptance of cryptocurrency would continue to rise regardless of who emerges between President Trump and Joe Biden.
One of those experts in the cryptocurrency industry who believes that the US elections will have no effect on the crypto industry is Grayscale CEO Barry Silbert.
He thinks that the winner of the elections would not stop the policy of the government of print more money as a means of helping the economy. He also believes that this government policy does nothing more than increase the inflation rate in the country.
To put it simply, Barry points out that whoever wins the US election will always order the Central Bank to print more money out of thin air. This, he believes, would lead to higher inflation in the country. And in the long run, count for Bitcoin.
You will recall that the United States government under President Trump is packaging an economic stimulus package that, as some Bitcoin enthusiasts said, confirms the value of Bitcoin.
Tesla founder Elon Musk has criticized this government decision to print money out of thin air. Gemini co-founder, Tyler winklevoss, has also labeled the planned economy stimulus package a Bitcoin announcement.
Bitcoin price rises and adoption rate grows
The price of Bitcoin has continued to rise since March of this year. Bitcoin is currently selling at a high of over $ 13,000.
Major financial institutions like PayPal and Square have also adopted crypto assets. PayPal recently announced the integration of a crypto transaction gateway into its system.
PayPal announced that this feature would currently be available to its US users only today. However, its international users would have access to the feature in 2021. Users of the Venmo app would also have access by then.
Square He has also announced his decision to keep one percent of the total value of his asset in Bitcoin.
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