The chief investment officer of Bitwise Asset Management, Matt Hougan, stated on October 30 that Trump’s victory in the upcoming election could cause altcoin to rise due to greater regulatory transparency and institutional interest.
In a recent interview with Yahoo Finance , Hougan stressed that while bitcoin is poised for growth regardless of the election outcome, Trump’s victory could accelerate regulatory support for altcoins, potentially increasing their market appeal.
Trump’s victory will bring regulatory clarity
Hougan explained that Bitcoin’s regulatory situation is improving and he expects continued institutional interest and adoption across the sector.
He explained that the broader cryptocurrency market could benefit from both administrations, but altcoins, in particular, may find themselves in more favorable conditions after Trump’s victory due to anticipated regulatory changes.
“We will reach over $100,000next year,” – Hougan said. He added that some altcoins, unlike Bitcoin, face lingering regulatory uncertainties, making them more vulnerable to potential policy changes.
Hougan stressed that Bitcoin’s regulatory classification has already brought some stability, referring to its designation as a commodity by the CFTC. “Bitcoin has more regulatory clarity than Ethereum and other assets,” he said.
Hougan noted that several altcoins, including Ethereum, are more vulnerable to potential policy changes. “Look, I think this is the best single time to invest in Bitcoin from a risk-adjusted perspective,” he said.
He attributed Bitcoin’s current momentum to a confluence of factors, including reduced volatility, institutional participation and new financial products, such as ETFs, that facilitate greater access to cryptocurrencies.
Hougan mentioned that while Trump’s victory may lead to faster altcoin growth due to regulatory clarity, Harris’ victory will not drastically change the long-term trajectory for Bitcoin and the cryptocurrency sector.
According to Hougan, even if short-term volatility occurs under a Harris administration, he sees this as a temporary setback. In the long term, bipartisan interest in cryptocurrency regulation is expected to support further growth in digital assets.
