Trump and Harris: Who is better for the US crypto market?

Author: JSQZT60n

The US presidential election is still a few months away. Many Bitcoin enthusiasts expect Donald Trump to be the winner. The reasoning behind this idea is that if Trump wins the election and becomes the US president, he will formulate policies to free the cryptocurrency industry from the clutches of regulators.  

Contrary to this common expectation, now two analysts from VanEck, Matthew Sigel and Patrick Bush, have come up with a paradoxical idea as to why Democratic candidate Kamala Harris may be a better fit for the presidency than Republican candidate Donald Trump, even though the latter has not publicly stated a political stance on cryptocurrencies, while Trump has publicly declared his support for the cryptocurrency industry throughout the campaign. Sounds confusing, right?

Why is Kamala Harris a better fit for cryptocurrencies? Is there any reason? The VanEck analyst’s theory takes a slightly unconventional approach to prove its point. First, it claims that the economic policies implemented by the ruling Democratic administration have weakened the U.S. dollar. The theory emphasizes that this weakness in the U.S. dollar is a perfect opportunity for cryptocurrencies such as Bitcoin. The key point of the theory is that if the policies that have led to a weaker dollar continue (which is likely to happen if Kamala wins), more investors will enter the Bitcoin market, which can serve as a hedge against traditional economic challenges such as inflation and currency debasement. The theory does seem quite plausible, doesn’t it? Trump’s Impact on the Crypto Ecosystem The theory does not underestimate the potential growth that could be achieved by the crypto industry if Donald Trump puts in place the necessary policies to deregulate the industry. Notably, Trump has made several bold statements recognizing the urgent need to transform the country’s cryptocurrency regulatory environment into a business-friendly one. To the surprise of many, he has almost completely transformed from someone who was skeptical of the cryptocurrency industry to someone who wants to see crypto drive a new revolution in the American business landscape.  

In summary, the theory suggests that it may not matter who wins the US presidential election this November; growth for the cryptocurrency industry, and Bitcoin in particular, is almost certain.