U.S. Presidential Election Takes Place
The 2020 U.S. Presidential Election occurs, with uncertainty surrounding outcome seen by many as bullish catalyst for non-sovereign assets like Bitcoin.
On November 3, 2020, U.S. Presidential Election Takes Place. The 2020 U.S. Presidential Election occurs, with uncertainty surrounding outcome seen by many as bullish catalyst for non-sovereign assets like Bitcoin.
Bitcoin advocates argued that regardless of who won, the election demonstrated the importance of holding wealth in non-sovereign, censorship-resistant assets that weren't subject to political control or policy changes. The unprecedented levels of government spending and monetary expansion during 2020 had occurred under both parties' leadership, suggesting that expansive fiscal and monetary policies would continue regardless of election results. This bipartisan commitment to aggressive economic intervention reinforced the case for Bitcoin as a hedge against currency debasement that would occur under any political leadership.