Dan Tapiero, founder of 10T Holdings, predicted that Bitcoin's price will hit $100,000 regardless of the outcome of the upcoming US presidential election, signaling continued confidence in the cryptocurrency market's upward trajectory.

Bitcoin to Hit $100K Despite US Election Uncertainty

On October 10, 10T Holdings founder Dan Tapiero stated that the outcome of the US presidential election will not alter the bullish trajectory of cryptocurrencies like Bitcoin. He predicted that Bitcoin's price would likely reach $100,000 per coin regardless of the winner.

“I don’t think it really matters. Everything is going up now. The election will pass,” Tapiero said during a panel talk at the Permissionless conference in Salt Lake City, Utah.

Bitcoin as a Proxy for Broader Crypto Growth

Tapiero stated, "Bitcoin is a proxy [for cryptocurrency generally], and I believe it will head to $100,000 relatively soon, and other [assets] will follow."

Donald Trump, the Republican candidate for president in the US, has stated his desire to make America "the crypto capital of the world." Democratic candidate Kamala Harris, on the other hand, has been relatively silent on the subject. The election takes place in November.

Crypto Industry Eyes Election’s Impact on Regulation

The present White House majority of Democrats is widely seen by many in the cryptocurrency industry to be anti-crypto due to the SEC's tough stance on purported violations by bitcoin companies.

The current head of the SEC, Gary Gensler, will be "fired" by Trump.

Harris has been playing the crypto game more seriously since September when she named blockchain technology as one of many new areas in which the United States should "remain dominant."

Grewal's Resignation Hints at Regulatory Shift

It is possible that the present administration is signaling a change of direction with Gurbir Grewal's resignation as head of enforcement at the SEC on October 2nd.

Cointelegraph reports that following the highly criticized launch of a Trump-affiliated crypto project in September, several Trump fans in the crypto business have stated that the former US president "lost their votes.”

Post-Halving Surge Expected for Bitcoin

Regardless of the outcome of the election, CK Zheng, the chief investment officer at ZX Squared Capital, believes that Bitcoin's price would rise.

Zheng told Cointelegraph on September 30 that Bitcoin's value has typically surged in the fourth quarter after the halving event in April and that neither presidential contender has tackled a critical problem that may benefit Bitcoin.

"Bitcoin will see a significant uptick in value, particularly after the US election, if neither the Republican nor the Democratic parties adequately tackle the growing US debts and deficits," Zheng predicted.

Institutional Interest in Blockchain Growing

In meanwhile, blockchain technology is becoming increasingly popular, and by 2024, institutional investors will have poured billions of dollars into Bitcoin and Ethereum funds.

“This move toward putting all value on a Blockchain is bigger than one election. And so I think it [...] the tide continues and it rolls, and it’s also global,” Tapiero remarked.