Bitcoin Will Rise If Trump Wins Election – Tom Lee

Fundstrat head of research Tom Lee believes the hope of a Trump election victory in November could boost asset prices, and that includes Bitcoin.

“When the market is more convinced of that, you’re going to see cyclicals, small caps and bitcoin do better,” he told CNBC on Thursday, “because they’re clear policy differences.”

Trump Bitcoin Trading

According to Lee, the market currently believes that Trump is more likely to win than the polls show, and he sees that as a good thing.

FiveThirtyEight currently has Democratic Party nominee Kamala Harris 3.4% ahead of Trump in national polls. By contrast, crypto punters at Polymarket, now the world’s largest election prediction group, have Trump as a 52% favorite to win.

Trump’s policy differences are widely seen as favorable to markets. These include promises to lower the corporate tax rate to 15% (compared to Harris’ proposal of 28%) and promises to protect Bitcoin in America while establishing a national strategic Bitcoin stockpile.

Trump’s betting odds were particularly favorable this week as rumors emerged that Robert F. Kennedy Jr., the most popular independent presidential candidate, would drop out of the race to endorse Trump later in the week. Bitcoin price rose 4% in response.

“It seems to me over the last few days that the market is betting that Trump’s odds are better than the polls,” he said.

Lee said markets showed “a lot of resistance” after Black Monday earlier this month, when Bitcoin briefly fell to $50,000 despite Japan’s macroeconomic scares. Regardless, he believes the Federal Reserve is “behind the curve” on interest rate cuts, and that a more aggressive cut in the future “would make sense.”

Bitcoin at $100,000, says Anthony Scaramucci

After Lee’s interview, Skybridge Capital co-founder Anthony Scaramucci said he remains bullish on Bitcoin reaching $100,000, albeit later than he predicted.

Despite regulatory headwinds for crypto in previous years, rail payment systems based on Layer 1 cryptographic technologies will “advance our economies” and “reduce the costs” of transactions globally.

“The regulatory authorization of the ETF made it safe to get into Bitcoin, for many institutional investors,” he added, noting Morgan Stanley’s new openness to the products. “This is paving the way and making it more acceptable.”

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