With the United States Presidential election drawing closer, a market expert has addressed the growing discussion within the general crypto industry that the upcoming event could impact the long-term potential of Bitcoin negatively.
Bitcoin’s Future Growth Unaffected By Election Outcomes
Financial expert and Bitcoin enthusiast, Rajat Soni, has made a bold claim that BTC’s long-term potential is still intact regardless of the outcomes of the impending US Presidential election, predicting that the crypto asset is on track to reach the $1 million level.
The expert’s proclamation and prediction underscore that, in spite of political swings, Bitcoin’s fundamentals are still solid, setting it up for exponential growth. Soni speculates that the digital asset may reach the $1 million milestone in the upcoming years.
According to the expert, many people in the industry believe that the price of Bitcoin will decrease if Vice President Kamala Harris emerges as the new president of the US after the election scheduled to take place in November. However, they do not know that if Harris prevails, the wealthy people will have even greater motivation to purchase BTC. “Eg. She’s planning to borrow more money to give $25,000 to first-time home buyers and more money will enter the economy,” Soni added.
There are also speculations that BTC’s next rally might be triggered by former president Donald Trump winning the upcoming election, given his renewed pro-crypto friendly stance. However, Soni has dismissed these claims noting that Bitcoin does not need the former president, nor will the digital asset perform poorly if Harris wins the election in November.
Whatever the impending election may unfold, Soni is confident about BTC‘s potential to outperform in the long term as he predicts that the crypto asset is heading to the $1 million milestone.
BTC To Spearhead The Collapse Of Real Estate Market
Rajat Soni’s strong optimism towards Bitcoin is attributed to his belief that the digital asset is capable of overtaking several financial sectors in the US, such as the real estate market. In another post on the X (formerly Twitter) platform, Soni predicted the collapse of the real estate market in the nation, stating that “Bitcoin will be the reason for the collapse.”
Even though nowadays houses are being utilized “as a store of value” and people are purchasing more houses than they need since they can not save with merely US dollars, Soni believes that Bitcoin is a better investment and value storage asset due to its potential in the long run.
Furthermore, the expert has pointed out multiple factors that make BTC a better store of value. These include no maintenance and repairs, self-sovereignty, no property taxes, no realtors or lawyers, no need for leverage, and others.
Featured image from Unsplash, chart from Tradingview.com
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