Donald Trump won the US presidential election on Tuesday, but Bitwise chief investment officer Matt Hougan thinks crypto was already on a long-term path to adoption regardless of who took the White House.
Hougan noted in a recent analysis prior to the election that a Trump victory would help reduce regulatory risk for altcoins.
-->However, the CIO also said the firm was bullish on Bitcoin (BTC), Ethereum (ETH) and stablecoins regardless of the outcome.
“Our view is that regardless of who wins on Tuesday:
- Spot crypto ETF inflows will continue
- Stablecoins will continue to grow rapidly
- Institutions will continue to ‘get off zero’ and add allocations to crypto
- Wall Street will continue to embrace tokenization and real-world assets
- Blockchains will continue to get faster and cheaper
- Real-world applications like Polymarket will continue to break through and gain mainstream adoption
Make no mistake: What happens in Tuesday’s election matters, particularly in the short term. But as I see it, over the long term Tuesday will prove to be something between a speed bump and a wind gust. Neither is going to stop this train.”
On Wednesday after the election, Hougan argued that a new, pro-crypto regulatory environment will be “a game-changer.”
“A pro-crypto regulatory environment will provide air cover for institutional investors who have long wanted to allocate to the space.”
