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Introduction
As the U.S. Presidential election approaches, discussions within the cryptocurrency space have surfaced about how the event might affect Bitcoin’s long-term growth. Despite this, a market expert suggests that Bitcoin remains on track to hit the $1 million mark, regardless of the political landscape.
Bitcoin’s Long-Term Potential Remains Strong Despite Election
Rajat Soni, a financial analyst and Bitcoin advocate, has confidently asserted that Bitcoin’s future growth is secure, independent of the upcoming U.S. Presidential election results. Soni predicts that Bitcoin is still on course to reach the $1 million valuation in the near future. His analysis emphasizes that political shifts won’t undermine the solid fundamentals that continue to drive Bitcoin’s exponential growth. He believes that Bitcoin could surpass this significant milestone in the coming years.
Soni also addressed a common belief in the crypto space that if Vice President Kamala Harris wins the presidency in November, Bitcoin’s value could decline. However, he argues the opposite, stating that if Harris is elected, affluent investors may have even more reason to invest in Bitcoin. "For instance, her plan to borrow more money to offer $25,000 to first-time homebuyers could inject more liquidity into the economy," Soni added.
Additionally, there is speculation that Bitcoin could experience its next major rally if former President Donald Trump wins due to his renewed pro-crypto stance. However, Soni dismisses this notion, stating that Bitcoin’s performance is not dependent on Trump’s influence. He remains confident that no matter the election result, Bitcoin is set for continued long-term success, ultimately reaching the $1 million milestone.
Bitcoin Could Lead to Real Estate Market Disruption
Soni’s bullish outlook on Bitcoin stems from his belief that the cryptocurrency has the potential to disrupt multiple sectors, including the U.S. real estate market. In a post on the X platform (formerly known as Twitter), Soni predicted the downfall of the real estate market, citing Bitcoin as the primary cause. He stated, "Bitcoin will be the catalyst for the real estate market’s collapse." According to Soni, homes are currently being used as a store of value, with people purchasing more properties than necessary due to the inability to save effectively with U.S. dollars. In contrast, Soni believes Bitcoin offers a more efficient and long-term store of value.
The expert further outlined several reasons why Bitcoin outshines real estate as a store of value. These include its lack of maintenance costs, no property taxes, no need for realtors or legal intermediaries, self-sovereignty, and no requirement for leverage. Soni asserts that these factors make Bitcoin a superior investment option for the future.
