How the 2024 election could unleash Bitcoin’s hidden liquidity

10/24/2024 04:15
How the 2024 election could unleash Bitcoin’s hidden liquidity

As Bitcoin grows globally, questions arise on whether political outcomes will affect market movement.

As the 2024 election approaches, questions around bitcoin's future and its relationship with political outcomes are drawing increasing attention.

Roundtable anchor, Rob Nelson, hosted a conversation featuring Perianne Boring, Founder of the Digital Chamber, and Kelly Kellam, Director at BitLab Academy, to explore how political clarity might influence investor behavior. The panel discussed bitcoin's potential to reshape global financial systems and its resilience despite political uncertainties.

Perianne Boring emphasized the resilience of bitcoin, stating, “Bitcoin doesn’t care about politics, it doesn’t care about Democrats or Republicans. It’s just open-source software.”

She pointed out that while investors are seeking certainty, bitcoin will remain a successful asset regardless of the political climate. “There is money sitting on the sidelines,” Boring noted, acknowledging that clarity on the election results could encourage market movement.

Boring also highlighted bitcoin’s consistent performance, calling it "the best performing asset in the world today." She praised its global significance, stating, “The world needs bitcoin,” especially in communities that lack access to traditional financial services. Reflecting on a decade of work in the sector, she noted how far the conversation has come, including the introduction of regulated bitcoin products and growing political engagement with cryptocurrency.

Rob Nelson turned to Kelly Kellam for his perspective on bitcoin’s future, particularly its practical applications. “One of the upsells of bitcoin is how much of the world actually will need and want this,” Nelson remarked. Kellam agreed, underscoring that bitcoin represents a significant evolution in technology, much like the internet itself, calling it “the ultimate freedom tool."

As the discussion concluded, the speakers appeared to share a unified vision: No matter the political backdrop, bitcoin’s role in reshaping the financial landscape is poised for continued growth.

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