Russell Starr: Bitcoin Price May Hit $150,000 If Trump Wins

Russell Starr, Former CEO and Head of Capital Markets at DeFi Technologies, opened up about Bitcoin and the impact of elections on Bitcoin price.

Russell Starr, ex-CEO and head of capital markets at DeFi Technologies, shared his perspective on the connection between Bitcoin and the upcoming US presidential election.

In an interview with David Lin, Starr highlighted several key factors that influenced the stock market movements observed on the Monday following the attempted assassination of former President Donald Trump.

According to Starr, the most significant development was the German government's decision to halt Bitcoin sales. This reduction in selling pressure contributed to a more stable and potentially bullish market environment for the cryptocurrency.

Another crucial factor discussed was Trump's evolving stance on cryptocurrency. Starr noted that Trump has gradually positioned himself as a pro-crypto libertarian, advocating for its integration into the US economic framework.

This alignment is further evidenced by Trump's running mate, JD Vance, who supports a weaker US dollar to bolster the US economy. Combining these factors—a reduction in Bitcoin selling by the German government and Trump's pro-crypto stance—has led to a stronger Bitcoin price, according to him.

A continued upward trend in Bitcoin's value is predicted, especially if Trump secures a victory and further vocalizes his support for Bitcoin.

"I wouldn't be surprised that with a Trump victory you see it moving into that $150,000 level. This is a huge trading opportunity for individuals," he added.

Starr also discussed Trump's shift in perspective, highlighting that his earlier anti-Bitcoin stance has changed considerably. Fundamentally, Trump's platform now includes the belief that a weaker US dollar and a pro-crypto stance are beneficial for the economy.

This ideological shift aligns with broader economic strategies, including skepticism about the US dollar as the global settlement currency.

Looking forward, according to him, a pro-Bitcoin government might actively adopt Bitcoin. Even if direct adoption doesn't occur, a pro-crypto stance from regulatory bodies like the SEC could significantly impact the market.

He also discussed how on the campaign trail, Trump has pledged to oppose Elizabeth Warren's anti-crypto policies and halt Joe Biden's efforts to undermine the crypto industry. Trump's commitment to protecting crypto holders' rights and preventing the creation of a central bank digital currency is clear.

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