Many Bitcoiners crossed their fingers that the crypto-friendly Donald will come down and win the US presidential election in November. The former president said He painted himself As a Bitcoin-loving candidate, after all.
But what if Democratic candidate Kamala Harris is a better option overall? Orange coin? That's the idea VanEck analysts floated in a report this week.
Their rationale is that a Harris presidency will continue current economic policies that they believe will weaken the US dollar and drive Bitcoin adoption.
The two analysts argued in July that the world's major economies could turn to Bitcoin after noticing the “unusual deficiencies” of fiat currencies. A Democrat in the White House, in their view, is unlikely to cure the current financial crisis.
“We argue that a Kamala Harris presidency could be better for Bitcoin than a second term for Trump because, in our view, it will accelerate many of the structural issues that drove Bitcoin adoption in the first place,” said Matthew Siegel and Patrick Bush in Thursday's report. He argued.
“As inflation and currency fluctuations continue to challenge fiat money systems, Bitcoin can serve as a critical hedge,” he added.
The two said Trump would be better not only for Bitcoin itself, but for the digital asset ecosystem as a whole.
“On the contrary, we believe a Trump presidency is great for the entire crypto ecosystem as a whole, because of more regulation and business-friendly policies — perhaps especially for crypto entrepreneurs who have been increasingly scrutinized by regulators over the past four years,” read the report.
Former President Donald Trump It is used to call The crypto space is a “scam”, but has since been embraced. NFTs, BitcoinAnd it has equal kick off World's own upcoming decentralized finance (DeFi) project called Freedom Finance.
Just Wednesday, the Republican candidate Bitcoin used To pay for a burger at Pubki Bar in New York City. “It's the beginning of a new era,” he said after using the technology.
But Vice President Harris has said very little about the crypto industry. Some of the biggest people in the industry – like a billionaire entrepreneur Mark Cuban— her campaign has hinted that she's taking a bigger interest in crypto, but the Democratic nominee has yet to announce her stance or plans.
Edited by Andrew Hayward.
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