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Donald Trump was anti-crypto. But if he wins a second term as president of the United States in November, Bitcoin British banking giant Standard Chartered says it could benefit.
In a note on Tuesday, Standard Chartered Digital Assets researcher Geoffrey Kendrick said another Trump administration would not be as strict on Bitcoin as Biden.
And if Trump wins, the foreign official added, buyers of U.S. Treasuries may want to shift cautiously to alternative financial assets — which could drive up asset prices.
“While officials in the Biden administration have taken a relatively tough stance on digital assets, Trump said in a March interview that he would not restrict Bitcoin or other digital assets if elected.”
He added that import tariffs under a Trump presidency would cause “many large reserve managers to buy BTC by 2025.”
In March, Trump-Man He was beaten earlier Bitcoin –he said. He enjoyed making money and playing with real estate and other crypto currencies.
“I make money with it, and I have fun with it,” he said. “Crazy new money, that's what I call it. Bitcoin and other new currencies are crazy.”
Donald Trump, the 2017-2021 US President, will face off against current President Joe Biden as the presumptive Republican nominee in the November election.
Standard Chartered predicted last month that newly approved Bitcoin exchange-traded funds ETFs will continue to be popular, and could see the price of Bitcoin rocket to $150,000 by the end of this year.
Edited by Andrew Hayward.
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