📌Is a Kamala Harris Presidency the Best for Crypto Prices: VanEck Prediction ‼️
🔘 VanEck outlined a scenario in which a Harris presidency could see SEC Chairman Gary Gensler, known for his tough stance on crypto regulation, retained.
This, coupled with Harris aligning her fiscal policies with the more regulatory-focused wing of the Democratic party represented by Senator Elizabeth Warren, could create a challenging environment for institutional adoption of digital assets.
Such a regulatory climate could stifle innovation and growth in the sector and create challenges for broader crypto market development.
🔘 However, there is a bright side for Bitcoin enthusiasts.
VanEck suggested that a Harris presidency could, paradoxically, be more beneficial for Bitcoin than a Trump administration.
The firm argued that structural issues that have potentially flared up under Harris, such as increased fiscal spending and regulatory tightening, could drive more investors to Bitcoin as a hedge against economic uncertainty and inflation.
This could increase Bitcoin’s appeal and competitiveness over other digital assets.
On the other hand, VanEck’s analysis suggested that the crypto industry as a whole could benefit more from a second Trump term.
A Trump presidency would bring more deregulation and business-friendly policies that could favor crypto entrepreneurs in particular.
Under such an administration, the firm believes that the crypto ecosystem would experience less regulatory scrutiny and provide a more conducive environment for growth and innovation.
