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Why would a Donald Trump victory benefit Bitcoin?

Why would a Donald Trump victory benefit Bitcoin?

Donald Trump used to be anti-crypto. But if he wins in November and becomes President of the United States for the second time, Bitcoin could benefit, according to British banking giant Standard Chartered.

Reuters

Standard Chartered digital asset researcher Geoffrey Kendrick predicted that if donald trump is elected president of the United States – the elections are in November – it would be encouraging for the Bitcoin, The main cryptocurrency.

For the analyst, a second Trump administration wouldn’t be as strict on Bitcoin as a Joe Biden one might be. And if Trump wins, then foreign official buyers of US Treasuries might want to switch to alternative financial assets like Bitcoin out of an abundance of caution, he added, which would boost the asset’s price.

“While Biden administration officials have taken a relatively tough stance on digital assets, Trump said in an interview in March that if elected, he would not crack down on Bitcoin or other digital assets,” the memo he circulated reads. this week.

Kendrick added that import tariffs under Trump would lead “several large reserve managers to buy BTC in 2025.”

In March, Trump—who previously criticized Bitcoin—said he enjoyed making money and playing with the asset and other cryptocurrencies.

“I make money from it and I also have fun,” he said. He stated that cryptocurrencies “are crazy new currencies, whether it’s Bitcoin or others.”

Source: Ambito

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