As the U.S. government and major institutions deepen their involvement with bitcoin, Roundtable anchor Rob Nelson and John Divine, Head of OTC Trading at BlockFills, weigh in on how the upcoming November election could shape the future of the cryptocurrency. With political stakes high and bitcoin's role under scrutiny, the discussion explores whether it will become a unifying asset or a point of contention.

Nelson highlighted the growing influence of bitcoin within the U.S. financial system, noting that even with the risks associated, it's becoming a larger part of institutional portfolios. The government's involvement and the introduction of bitcoin ETFs are further cementing its place in the market. But with this increased adoption comes political scrutiny, particularly as the 2024 election looms.

Divine underscored the importance of the upcoming November election, which he believes will be critical for the next few years of bitcoin and the broader crypto industry. According to Divine, the political spectrum is clearly divided on the issue, but he hopes bipartisan support rallies behind the idea of bitcoin as a technology and strategic asset. He pointed out that individuals from all political backgrounds own bitcoin, which should ideally make it an asset that unites rather than divides.

As the election approaches, Divine anticipates that bitcoin's role as a potential strategic reserve asset for the U.S. government and treasury will dominate headlines. This narrative, driven by figures like Donald Trump and Robert F. Kennedy Jr., could have significant implications for bitcoin's perception and value. However, Divine expressed concern that if the Democratic Party chooses to sideline bitcoin in the election conversation, it could result in a lack of media coverage, which he views as detrimental to the asset's growth.

Nelson echoed this sentiment, emphasizing the power of headline narratives in shaping market movements. He acknowledged that while it's unfortunate, the media's portrayal of bitcoin could significantly influence its future. As the election draws nearer, the stakes for bitcoin couldn't be higher, with its potential as a strategic reserve asset hanging in the balance.