Bitcoin on track for $100,000 on Trump's pro-crypto agenda - deVere CEO
November 11, 2024 (Investorideas.com Newswire) Bitcoin has now surged past $82,000, and could hit $100,000 by the end of January 2025 after Donald Trump takes office, predicts the CEO of one of the world's largest independent financial organizations.
The bullish prediction from Nigel Green of deVere Group comes after the cryptocurrency has experienced a staggering 93% price rise year-to-date.
He successfully predicted Bitcoin would hit $80,000 on a Trump victory in the US presidential election last week.
He says: "We expect that this is just the beginning, with the cryptocurrency set to break more records under an incoming Trump administration.
"President-Elect Trump's crypto-friendly stance signals a transformative moment for Bitcoin and the broader digital asset market.
"His administration has a clear mandate to regulate crypto constructively, and his plan to elevate Bitcoin to a strategic asset class is a powerful endorsement. This is the most significant tailwind we've seen for Bitcoin since its inception."
With inflation concerns on the rise amid looming economic policy shifts, Bitcoin's role as a hedge against eroding cash value is also gaining traction.
"While inflation pressures have eased with recent rate cuts globally, the Trump administration's ambitious spending plans and potential tariffs could quickly reignite upward pressure on prices. This inflationary backdrop is encouraging investors to turn to Bitcoin as a safeguard against diminishing purchasing power," notes the deVere Group CEO.
"Bitcoin, by its very design, is a deflationary asset. Unlike fiat currency, its supply is capped, which makes it an ideal hedge in times of inflation. As more investors recognize this, Bitcoin's role as a long-term store of value only strengthens."
The lack of consistent regulation has long been a barrier to mainstream adoption of cryptocurrency in the US. Trump's administration has pledged to bring clarity to this space, creating a regulatory environment that reduces uncertainty and encourages broader participation.
This commitment to regulatory stability could "unleash a wave of institutional investment, setting the stage for robust growth in the crypto sector."
By designating Bitcoin as a strategic reserve asset, Trump's administration is taking an unprecedented step that could lead to substantial demand for Bitcoin from government institutions.
"If adopted, this move would not only drive-up Bitcoin's price but would also solidify its position as a legitimate asset in the eyes of institutional investors worldwide," affirms Nigel Green.
"Clarity in policy paves the way for confidence in the market," he adds. "With clear, supportive regulations, we expect institutional capital to pour into crypto like never before. Bitcoin, being the most established digital asset, stands to gain the most from this influx."
deVere's projection of Bitcoin reaching $100,000 following Trump's inauguration may seem ambitious, but current trends and Trump's policies support this forecast.
Bitcoin's remarkable 93% rise in 2024 alone reflects the growing appetite for digital assets amidst economic uncertainties and the optimism surrounding pro-crypto regulations.
"With every surge in Bitcoin's value, it inches closer to becoming a mainstream financial tool," Green emphasizes. "The Trump administration's backing will be the catalyst for this shift, pushing Bitcoin into the portfolios of traditional and institutional investors alike."
He concludes: "Trump's pro-crypto agenda in the world's largest economy is set to provide the perfect storm for Bitcoin's rise. With a clear regulatory framework and his push to make Bitcoin a strategic asset, the digital currency is poised for unprecedented growth.
"As Bitcoin breaks records, its mainstream adoption seems all but assured. The path to $100,000 is now within reach-and could signal a new era for both cryptocurrency and traditional investment portfolios."
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