As the 2024 presidential election lies just two months away, Fundstrat vice president of digital asset strategy Sean Farrell joins Morning Brief to break down bitcoin's (BTC-USD) political future as the crypto community awaits a definitive stance from presidential candidates Donald Trump and Kamala Harris. Bitcoin has slid below $58,000 in Tuesday's session.

"It is unfortunate that it has become a partisan issue because I think there are qualities of bitcoin that are endemic to bitcoin that certainly play to the interests of people who skew to the right side of the political spectrum. But certainly, there are aspects of the technology that really play into a lot of the themes around access to banking services and holding the elites accountable that play into a lot of the themes that the left presumably identifies with," Farrell tells Yahoo Finance.

Down the line, he not only hopes to see bitcoin become a bipartisan issue, but he has his sights set on the proliferation of stablecoins outside of bitcoin. He believes that stablecoins are "a great way to extend the dominance of the dollar while also leveraging this new emerging technology."

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This post was written by Melanie Riehl