CoinShares: Donald Trump's Re-election Could Boost Bitcoin, Kamala Harris's Stance Uncertain
CryptoNewsTerminal Staff14 Aug, 2024
CoinShares: Donald Trump's Re-election Could Boost Bitcoin, Kamala Harris's Stance Uncertain
CoinShares, a digital asset management firm, recently published its weekly report, highlighting the potential impact of the US presidential election on Bitcoin (BTC). The report suggests that former President Donald Trump's re-election could have a significant impact on the cryptocurrency. According to CoinShares, Trump's protectionist rhetoric and inflation-driven trade policies could weaken the dollar's reserve currency status. This, in turn, could benefit Bitcoin indirectly as a hedge against inflation. On the other hand, the report notes that Democratic vice-presidential nominee Kamala Harris's stance on cryptocurrencies is less clear. While she has expressed caution, Harris has not taken a definitive position on the matter. If elected, her administration may adopt a more critical approach to cryptocurrencies than the Biden administration. Overall, CoinShares' report suggests that the outcome of the US presidential election could have significant implications for the cryptocurrency market.
