Analysts at VanEck have gone through a surprise flip by indicating that Kamala Harris's presidency could turn out to be better for Bitcoin (BTC) than a second term from Donald Trump.
Analysts at VanEck have gone through a surprise flip by indicating that Kamala Harris's presidency could turn out to be better for Bitcoin (BTC) than a second term from Donald Trump.
Though most Bitcoin Maximalists have thrown their support in for Trump, a proclaimed crypto-friendly candidate, VanEck's Matthew Sigel and Patrick Bush present an argument for why a presidency by Harris could inadvertently boost Bitcoin adoption.
They both argue that since the vast majority of the current economic programs and policies will continue under a democratic regime, it will finally weaken the US dollar enough to actually force more people towards Bitcoin looking to hedge for inflation and currency devaluation.
"We would argue that a Kamala Harris presidency might be even better for Bitcoin than a second term for Trump because it would, in our view, accelerate many of the structural issues that drive Bitcoin adoption in the first place," the analysts said in the report.
But that wouldn't stop the VanEck team from discounting the possibility of Trump's wider impact on the crypto ecosystem. They feel a Trump presidency would surely bring even more deregulation and business-friendly policies, especially to crypto entrepreneurs that have fallen under a greater microscope of late.
Trump recently even started his own DeFi project, called World Liberty Financial. He most recently used Bitcoin publicly, to buy burgers at a New York City bar..
By contrast, Vice President Harris has been relatively quiet on cryptocurrency issues. Harris recently made known that she will support the development of AI and digital assets during a campaign fundraiser.
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