The post US Election 2024: Who’s Better for US Crypto Market Donald Trump or Kamala Harris? appeared first on Coinpedia Fintech News
The U.S. presidential election is a couple of months away. Many Bitcoin enthusiasts expect to see Donald Trump emerging as the winner. The rationale behind this thought is the expectation that if Trump wins the election and becomes the President of the United States, he will enact policies that can liberate the crypto sector from the clutches of regulators.
Against this popular expectation, now two VanEck analysts, Matthew Sigel and Patrick Bush, suggest a contradictory thought, explaining why Democrat candidate Kamala Harris, who has not yet publicly taken a political stand on cryptos, might be a better presidential choice than Republican candidate Donald Trump, who has openly announced his support for the cryptocurrency industry throughout his election campaign. Sounds confusing, right?
Why is Kamala Harris Better for Crypto? Is There Any Rationale?
VanEck analysts’ theory uses a slightly unconventional approach to justify its suggestion. First of all, It claims that the economic policies implemented by the ruling Democratic government have weakened the US dollar. The theory highlights this weakening of the US dollar as a great opportunity for cryptocurrencies like Bitcoin. The key point the theory projects is that if those policies which have contributed to the weakening of the US dollar continue – which is very likely to happen if Kamala wins – more investors would enter the Bitcoin market, which can act as a hedge against traditional economic challenges such as inflation and currency devaluation.
The theory definitely looks quite sensible, doesn’t it?
Trump’s Impact on the Crypto Ecosystem
The theory does not downplay the potential growth the crypto industry can achieve if Donald Trump introduces policies necessary to deregulate the industry. Notably, Trump has made several bold statements, recognizing the urgent need to turn the cryptocurrency regulation environment of the country business-friendly. To the surprise of many, he has transformed almost completely from someone who was sceptical about the cryptocurrency industry to someone who wants to see cryptocurrencies drive a new revolution in the US business landscape.
In conclusion, what this theory indicates is that it may not matter who wins the US presidency in November this year; the growth of the crypto sector, especially Bitcoin, is almost certain.
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