Elon Musk has shed light on a potential financial storm brewing on the horizon, suggesting that some of the biggest names in finance, including hedge fund mogul John Paulson, are preparing to cash out their investments and move into cash and gold if Kamala Harris claims victory in the upcoming US presidential election.
John Paulson's concern that Harris' proposed 25% tax on unrealized gains could trigger a massive sell-off and a rapid market downturn is also being voiced by Warren Buffett.
While both Harris and Trump have expressed support for cryptocurrencies, this uncertainty could shake the crypto market as major investors weigh their next moves.
Trump’s recent announcement of his DeFi project, World Liberty Financial, and the $WLFI token may have given some hope to crypto enthusiasts, but the upcoming election results could create waves of volatility.
