Grayscale CEO Barry Silbert said that the outcome of the US presidential election will not affect the Bitcoin price, and that the only thing that concerns BTC in this process is the incentive package to be released.
Grayscale CEO, Barry Silbert, made statements about the impact of the presidential elections, which will take place in the US next week, on Bitcoin. The election will take place on November 3rd between Donald Trump and Joe Biden. According to Sibert, the election of either Trump or Biden will not change anything for Bitcoin, Bitcoin will be the winner.
“They are obliged to the incentive package”
Barry Silbert claimed that regardless of the election outcome, the government had to issue an aid package. According to Silbert, he argued that the injection of more dollars into the market and the increasingly alarming rate of inflation would work against the dollar.
Trump wins = brrr
Biden wins = brrr
Either way, bitcoin wins
— Barry Silbert (@BarrySilbert) October 28, 2020
Grayscale CEO emphasized that neither candidate can stop printing money and that is the only thing that concerns Bitcoin. According to Silbert, in such a scenario, Bitcoin will be on the winning side, no matter what name comes out of the election result. If history repeats itself and Bitcoin leaps like it did after the first incentive package, the coming days could be even brighter for leading coin investors.
Grayscale report: 2020 is a good year for BTC
Grayscale previously announced a report in line with CEO Silbert’s statements. Indicators reveal that Bitcoin performed better in 2020 compared to 2019. While 36% of US investors were interested in Bitcoin in 2019, this year the rate increased to 55%.
According to the news of ZyCrypto, this increase may indicate a growing awareness for Bitcoin among potential investors. Now more investments are aware of Bitcoin and know more about BTC. In addition, this makes it more and more possible for BTC to reach the masses, with only “interested” investors turning to a real BTC investor. While there were about 21 million Bitcoin investors in the USA alone in 2019, this number has now reached 32 million.