Survey Finds 72% Bullish on Bitcoin if Republicans Control Congress

A survey found 72% of respondents were bullish on Bitcoin in a Republican-controlled Congress scenario, while their outlook for stocks and Treasury yields varied under Democratic and divided control.

For Bitcoin, 29% expected the asset to finish the year above $100,000 in that scenario.

Expectations for the S&P 500 were strongest under Republican control. Sixty-five percent expected gains to accelerate or maintain their pace over the next 12 months, compared with 37% under Democratic control and 44% when the parties shared control. The index’s average monthly gain this year was about 1.3%.

Treasury yield expectations favored Democratic control: 53% expected yields to fall in that scenario. The comparable shares were 36% under divided control and 26% under Republican control.