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Home CRYPTO

Donald Trump Election Win Could Ignite Bullish Run for Crypto, and Here is Why

by Sham
May 7, 2024
in CRYPTO, OPINION
Reading Time: 3 mins read
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  • Bitcoin (BTC) Could Benefit From U.S. Fiscal Dominance and a Trump Win, Standard Chartered Says
  • A Trump election victory could be positive for crypto as his administration would likely push for a more supportive regulatory environment, the report said
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Standard Chartered claims that a Trump election victory could be positive for crypto as his administration would likely push for a more supportive regulatory environment. The report highlights how Bitcoin could benefit from U.S. fiscal dominance.

Is Donald Trump winning the upcoming 2024 election the best scenario for #Bitcoin and crypto?

— BlockNews.com (@blocknewsdotcom) May 7, 2024

Potential Benefits of a Trump Victory

Standard Chartered argues that a Trump win in 2024 would likely lead to crypto-friendly policies. The Trump administration is expected to push for lighter crypto regulation compared to Biden.

A more supportive regulatory environment under Trump could spur wider crypto adoption. Standard Chartered believes crypto would continue growing under Trump, without inhibitive regulations holding it back.

How U.S. Fiscal Dominance Helps Bitcoin

The report also explains how Bitcoin stands to gain from U.S. fiscal dominance. As the dollar retains its status as the global reserve currency, Bitcoin becomes more appealing internationally as an alternative store of value.

Investors worldwide may increasingly turn to Bitcoin to diversify from the dollar. U.S. fiscal and monetary policies that weaken the dollar over the long term are constructive for Bitcoin’s value proposition.

Bitcoin a Potential Hedge Against Dollar Debasement

With growing U.S. national debt and deficit spending, the dollar risks losing purchasing power over time. Bitcoin’s fixed supply makes it a potential inflation hedge.

Standard Chartered believes Bitcoin could attract more demand as a way for global investors to hedge dollar debasement risk and diversify reserves. Continued dollar dominance combined with loose fiscal and monetary policy would be supportive of Bitcoin’s appeal.

Conclusion

Standard Chartered presented several reasons why Bitcoin could benefit from Trump’s reelection. A more crypto-friendly regulatory environment expected under Trump could accelerate mainstream adoption. Meanwhile, U.S. fiscal dominance and dollar debasement fears reinforce Bitcoin’s value as an alternative reserve asset for global investors. Greater regulatory clarity and rising macroeconomic risks offer constructive tailwinds for Bitcoin over the long term.

Tags: BitcoincryptoDonald TrumpStandard Chartered
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