presidential election. He suggests that major financial figures, including hedge fund manager John Paulson, might shift their investments to cash and gold in response. Paulson is reportedly worried about Harris's proposed 25% tax on unrealized gains, which could trigger large-scale selling and a rapid market downturn. Warren Buffett is also said to be preparing for this scenario.
While both Harris and Donald Trump have expressed support for cryptocurrencies, this uncertainty may impact the crypto market as key investors assess their options. Trump's recent announcement of his decentralized finance (DeFi) project, World Liberty Financial, and its $WLFI token might offer some optimism for crypto supporters, but the election's outcome could lead to significant volatility in global markets.
This election may influence not just the political landscape but also have far-reaching effects on the economy.