US Election 2024: Will Donald Trump or Kamala Harris Be Better for Crypto?

As the U.S. presidential election draws near, Bitcoin enthusiasts are speculating on its potential impact on the cryptocurrency market. Many are betting on Donald Trump’s victory, expecting that his return to the White House could introduce crypto-friendly policies that would ease the grip of regulatory bodies on the sector. But is this really the best outcome for Bitcoin?

Against this popular expectation, now two VanEck analysts, Matthew Sigel and Patrick Bush, suggest a contradictory thought, explaining why Democrat candidate Kamala Harris, who has not yet publicly taken a political stand on cryptos, might be a better presidential choice than Republican candidate Donald Trump, who has openly announced his support for the cryptocurrency industry throughout his election campaign. Sounds confusing, right?

Why is Kamala Harris Better for Crypto?  

The analysts present an unconventional but compelling argument. They suggest that the economic policies of the current Democratic administration have weakened the U.S. dollar—an effect that could create an ideal environment for Bitcoin’s growth. The key takeaway from their analysis is that if Harris wins and these policies continue, the weakened dollar might drive more investors toward Bitcoin as a hedge against inflation and currency devaluation.

The theory definitely looks quite sensible, doesn’t it? 

Will Trump’s Pro-Crypto Stance Win the Game?

While the VanEck theory highlights the benefits of a Harris win, it doesn’t dismiss the potential gains for the crypto industry under a Trump presidency. Trump has made bold statements about the need to overhaul the U.S. regulatory landscape to make it more crypto-friendly. His transformation from a crypto skeptic to a vocal supporter has surprised many, and his policies could indeed provide a significant boost to the sector.

In the end, the VanEck analysts suggest that Bitcoin’s growth may be inevitable, regardless of the election outcome. Whether through economic shifts under a Harris administration or deregulation under Trump, Bitcoin could emerge as a key player in the future of finance.

The only question is: which path will accelerate its rise?

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