Recently, Pantera Capital claimed that the upcoming inauguration of Donald Trump will propel Bitcoin to new heights. Although Bitcoin's current price is around $97,000, this asset management company refuted the notion that the traditional stock market adage 'buy the rumor, sell the news' applies to the cryptocurrency market.
Pantera Capital, a cryptocurrency-focused investment firm, noted in its latest report (A Year Ahead in Cryptocurrency) that two significant events—the launch of the spot Bitcoin ETF in January 2024 and Donald Trump’s upcoming inauguration—will bring sustained bullish momentum, unlike traditional financial markets. Since the approval of the spot Bitcoin ETF, Bitcoin has risen over 100%, attracting over $40 billion in investments, indicating that the crypto market can maintain growth momentum after positive news is formalized.
Trump's supportive attitude towards cryptocurrencies has enhanced this optimistic outlook. His strategic appointments, such as appointing Paul Atkins to lead the SEC and David Sacks as the White House crypto advisor, demonstrate an intention to support the development of the blockchain industry. The macroeconomic backdrop also requires attention. While Bitcoin has recently stalled after breaking $100,000 in December, Pantera believes this slowdown is more due to monetary policy than political uncertainty. The Federal Reserve's slower-than-expected rate cuts and the strengthening dollar have temporarily suppressed the value of risk assets.
Industry experts such as Strike CEO Jack Mallers predict that strong measures will be taken after the new president takes office, including the possibility of signing an executive order recognizing Bitcoin as a reserve asset, which could trigger a new wave of institutional adoption. Scott Mason, a political consultant at Holland & Knight, emphasizes that Trump's arrival has increased Bitcoin's legitimacy among traditional investors, and this higher credibility, coupled with a potentially more friendly regulatory environment, could catalyze the next stage of the market's bull run.
Therefore, Pantera Capital's analysts summarize that the U.S. elections are not only speculative events but also a structural turning point for the crypto market. The combination of institutional adoption and political support is expected to further drive up the price of Bitcoin.#微策略持续增持BTC $BTC