With the US presidential election just days away, both Bitcoin (BTC) and gold prices are increasing as market participants and analysts make their predictions on possible outcomes.
Investors see these assets as a buffer, predicting that a win for former President Donald Trump could boost certain market sectors. Wealth Alliance President and CEO Eric Diton recently shared his perspective on Yahoo Finance’s Catalyst, discussing assets that could benefit depending on who sits in the White House.
During his interview, Diton explained his bullish outlook on Bitcoin and gold, noting that the country’s $35 trillion debt is a major factor influencing his views. “We don’t have a plan as a country to deal with this mounting debt,” he said. He observed that neither Trump nor Biden’s running mate, Vice President Kamala Harris, have outlined a detailed strategy for reducing national spending. Diton expects safe-haven assets like Bitcoin and gold to continue to gain traction among cautious investors amid such financial uncertainty.
Diton expects both Bitcoin and gold to maintain their appeal regardless of who wins, while noting the potential opportunities inherent in each administration. He sees sectors like traditional energy, finance and domestic retailers as likely beneficiaries under a Trump presidency, particularly with policies that could support corporate tax cuts and deregulation.
*This is not investment advice.