Trump Victory Could Propel Bitcoin to $92K, Says Bitwise Executive

According to Jeff Park, head of alpha strategies at Bitwise, Bitcoin could soar to $92,000 if Donald Trump wins the upcoming U.S. presidential election in November. In a post on X dated October 22, Park analyzed Bitcoin’s price in relation to Trump’s odds on the decentralized betting platform Polymarket. He utilized “merger arb-style probability math” to suggest a significant chance of a Bitcoin rally following a Trump victory.

Park’s optimistic outlook aligns with a growing number of analysts and commentators who believe a Trump win could drive crypto prices higher. Bitcoin millionaire Erik Finman also weighed in, suggesting that Bitcoin might even reach $100,000 if Trump secures the presidency. He argued that Trump's policies would stimulate the crypto market, resulting in substantial growth.

The connection between Bitcoin and political outcomes has never been so pronounced. Trump has made pro-crypto policies a key focus of his 2024 campaign, pledging to transform the U.S. into the "crypto capital of the world" and promising to remove Securities and Exchange Commission Chair Gary Gensler on his first day in office.

However, not everyone is convinced that a Trump victory would be beneficial for crypto in the long run. Billionaire investor Mark Cuban, who supports Kamala Harris, cautioned that while the crypto markets might experience a temporary surge after a Trump win, the excitement would likely fade. He pointed out that several of Trump's proposed economic policies, such as his controversial import tariffs, could lead to inflationary pressures that might negatively impact Bitcoin’s price over time.

Current polling data from 538 shows Harris leading Trump by 1.8% nationally, while betting markets indicate Trump holds an 18.8% advantage over Harris on Polymarket. As the election approaches, the interplay between politics and cryptocurrency remains a hot topic among investors and analysts alike.