Jeff Dorman, an investment manager at the crypto hedge fund Arca, stated that it doesn’t matter who wins the race in the US election and that Bitcoin will continue to rise. Dorman said, “Ultimately, the uncertainty in the market will disappear. Whatever the outcome … The important thing for the market is to have a winner.” said.
Speaking to Business Insider, Jeff Dorman, the investment manager of Arca, stated that conservative investors on Wall Street have overcome their prejudices and fears against Bitcoin with the recent positive developments. people do not want to be either, ”he said.
“As long as there is a winner! All risk assets will go up tremendously ”
Stating that it doesn’t matter who won the US elections for Bitcoin and other risk assets, Dorman said, “Ultimately, the uncertainty in the market will disappear. Whatever the outcome … What matters to the market is to have a winner. This is enough for them… Many investors expect a balanced and concise choice. It is believed that the majority cannot be obtained by either party. It does not matter. Because all risk assets will go up tremendously, ”he said.
Bitcoin, which exceeded 13800 levels last week, managed to cross the 14 thousand limit on Saturday. It is clearly seen that the biggest cryptocurrency has been in an exit with positive news from companies such as PayPal, MicoStrategy, Square and Mode. Famous investor Paul Tudor Jones also states that Bitcoin is the biggest tool against inflation.
“It is not possible for Paul Tudor Jones to start a bull market movement alone, but he removes the concerns of people who want to enter the industry but have fears,” Dorman said, and investors on Wall Street did not want to be the first to enter this door, but they do not want to be the last.
“Once the doors are opened, they open for everyone. Paul Tudor Jones alone will not be enough for a bull market, but it will certainly be effective in increasing the demand for Bitcoin “
Defining himself as a Bitcoin bull, Dorman said that “fintech” companies are moving faster in providing services for digital assets and in this sense disrupt the traditional finance industry:
“Take a look at the stock prices of traditional banks and ‘fintech’ firms this year. See where companies like PayPal and Square are going compared to others like JP Morgan and Bank of America. These developments, which are good for Bitcoin, can have even worse consequences for banks. These fintech companies currently offer services that banks cannot. “
Dorman also stated that Bitcoin is a safe haven asset against inflation, not against the US dollar.