Trump Win Could Signal Bitcoin Bottom: Bernstein

John Darbie
Photo: Finoracle.net

Bitcoin Price Outlook Linked to U.S. Election
The cryptocurrency market, especially Bitcoin (BTC), is closely monitoring the upcoming U.S. presidential election. According to a recent Bernstein Research report, a potential victory for Donald Trump could cause a bottoming out in Bitcoin prices, sparking a subsequent uptick. The report suggests that the market perceives a Republican administration as more favorable to crypto policies.

Current Market Dynamics
At present, cryptocurrency prices are stuck in a range-bound movement—oscillating between two price levels—due to uncertainty surrounding the U.S. elections. Data from Polymarket, a major crypto prediction platform, indicates a tight race between Trump and his anticipated Democratic opponent, Kamala Harris. Although Trump recently gained some momentum, Harris is currently slightly ahead, holding a 51% chance to win versus Trump's 47%.

Significant Moves in Bitcoin Mining Sector
The report also highlights noteworthy capital-raising endeavors by prominent U.S.-listed Bitcoin mining firms. For instance, Marathon Digital Holdings (MARA) recently secured $300 million through convertible notes, using part of this to purchase $249 million in Bitcoin. Similarly, Riot Platforms (RIOT) declared a $750 million equity offering, while Core Scientific (CORE) raised $400 million for debt repayment and acquisition of AI data centers.

Advantages for U.S.-Listed Miners
Bernstein's Gautam Chhugani explains that publicly listed Bitcoin miners in the U.S. hold a strategic advantage over private miners. Access to the world's most robust capital markets enables them to efficiently obtain debt and equity, a critical factor in this capital-intensive sector. This ability positions them favorably amid expected industry consolidation.

Emerging 'Mullet Strategy'
An evolving trend among miners is the adoption of a **'mullet strategy'**—a dual focus on AI data centers while sustaining Bitcoin mining operations. This strategy is appealing to institutional investors, who are typically more comfortable with data center investments. Such a shift underscores the adaptability of miners in navigating both crypto and traditional tech sectors.

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John Darbie is a seasoned cryptocurrency analyst and writer with over 10 years of experience in the blockchain and digital assets industry. A graduate of MIT with a degree in Computer Science and Engineering, John specializes in blockchain technology, cryptocurrency markets, and decentralized finance (DeFi). His insights have been featured in leading publications such as CoinDesk, CryptoSlate, and Bitcoin Magazine. John’s articles are renowned for their thorough research, clear explanations, and practical insights, making them a reliable source of information for readers interested in cryptocurrency. He actively follows industry trends and developments, regularly participating in blockchain conferences and webinars. With a strong reputation for expertise, authoritativeness, and trustworthiness, John Darbie continues to provide high-quality content that helps individuals and businesses navigate the evolving world of digital assets.