The anticipated high-profile presidential debate between Donald Trump and Joe Biden did not mention Bitcoin or cryptocurrency. This is notable because the industry has attracted the attention of many politicians this year.
Even so, experts believe that Trump's re-election could signal a shift towards more favorable regulatory conditions for the cryptocurrency industry in the US.
Is Trump the preferred candidate?
Bitfinex analysts have highlighted Trump's support for Bitcoin and other cryptocurrencies, saying the Trump administration could focus on establishing a “clear and constructive” regulatory framework. construction,” including promoting “innovation and investment” in the cryptocurrency sector.
This could lead to increased adoption of digital assets and stronger integration of cryptocurrencies into the financial system, potentially driving further growth in the industry.
Several industry players have publicly supported Trump, including the Winklevoss brothers, who recently expressed their support by donating $2 million in Bitcoin to his campaign. More recently, Kraken founder Jesse Powell, announced he had donated $1 million to the former President's campaign.
Bitfinex analysts believe that such gestures “signify a growing perception of Trump as a candidate who favors innovation within the crypto and traditional finance (TradFi) communities.
Trump's recent public endorsement of Bitcoin and his acceptance of cryptocurrency donations to his campaign highlight his shift from the critical stance of his previous presidency themselves and instead take a digital asset-friendly stance. Recently he also called himself “CryptoPresident – Crypto President”.
Trump is leading after a recent debate despite not mentioning cryptocurrency.
Source: projects.fivethirtyeight.com
Bernstein analysts believe that cryptocurrency could become a ‘Trump trade’ in the current election cycle as the Republican Party's prospects improve.
Republicans see this pro-industry stance as a way to attract voters and secure campaign funding from super PACs backing pro-crypto politicians.
The word 'Trump Trade' originally referred to the simultaneous rise in US stocks, Treasury yields and the dollar following Donald Trump's victory in 2016.
“Republicans see cryptocurrency not only as a vote bank but also as a meaningful source of funding. If electoral sentiment leans more Republican, then crypto will become the 'Trump trade' and hopes of a favorable regulatory regime will change the 'use case' narrative surrounding crypto-currencies. blockchain.”
https://tapchibitcoin.io/donald-trump-duoc-cac-startup-tien-dien-tu-va-tradfi-coi-la-ung-cu-vien-ung-ho-doi-moi-bitfinex.html