Arthur Hayes: The outcome of the US presidential election will have no impact on Bitcoin

Arthur Hayes, the co-founder of the crypto derivatives exchange BitMEX, expressed skepticism that the results of the U.S. presidential elections would significantly impact Bitcoin or the broader cryptocurrency market.

According to the former businessman, neither candidate, Republican Donald Trump nor Democrat Kamala Harris, would have a notable effect on Bitcoin's price. The elections' winner will likely adhere to an economic policy shaped by the U.S. national debt trends and the nation's ambitions to maintain global dominance, Hayes remarked.

If Harris were to win, the Bitcoin price might remain stable or experience a slight decline, the expert suggested. However, he indicated that BTC's value is not directly tied to the specific policies of either candidate or their stance towards cryptocurrencies. Both Trump and Harris have not significantly impacted the crypto market during their time in office, explained the BitMEX co-founder.


Regulatory bodies can operate independently of political pressures, as these agencies have their own agendas that may frequently diverge from politicians' promises or the market's needs, according to the BitMEX co-founder. He urged cryptocurrency holders not to trust election promises relating to digital assets, labeling them as typical vote-gathering tactics. Hayes is convinced that Bitcoin is more influenced by the monetary policies of central banks in the U.S., China, Japan, and the European Union than by U.S. political leadership.

In September, Hayes anticipated that in the short term, Bitcoin would be affected by the Japanese yen—if the yen weakened, Bitcoin's value would likely increase, and vice versa. Recently, Bitcoin reached a new all-time high, surpassing the $75,000 mark.