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The prospect of Donald Trump being re-elected in 2024 could be the boost Bitcoin has been waiting for. According to analysts at Standard Chartered Bank, a second term for the 45th US president could transform the regulatory landscape into a real launching pad for the king of cryptos.
A wind of regulatory change
Imagine a world where the White House becomes Bitcoin’s biggest fan. This is the picture that a new Trump administration could very well paint.
Known for his bold decisions, the prospect of Trump taking the reins again could mean a significant relaxation of regulations. Who knows? Maybe we’ll see late night Tweets boosting the crypto market!
Under Trump, the SEC could change its face and tactics. Less incessant litigation? Maybe not as often.
After all, a climate favorable to business and innovation has often been a rallying cry for his administration. For Bitcoin, this could mean fewer hurdles and more upside.
The impact of such a change would not be limited to U.S. borders. Bitcoin, with its status as a borderless currency, could benefit from less encumbered international expansion.
With fewer restrictions, the way would be clear for even wider adoption, which would significantly increase its value.
Bitcoin: beyond the dollar
Trump has never hidden his skepticism towards certain international agreements and economic blocs like BRICS. Its preference for strengthening the dollar could paradoxically benefit Bitcoin, used as a diversification tool in the face of the volatility of traditional currencies.
Although Trump has claimed to own no Bitcoin, he acknowledges its growing influence. In a delicate balance between support for the dollar and openness to cryptocurrencies, he could embody the leader who is not afraid to link financial technology and politics.
Bitcoin could find itself at the heart of monetary policy debates. With a less orthodox approach, the administration could use Bitcoin to strengthen the international position of the dollar, or vice versa, as an alternative in economic conflicts.
The 2024 elections could be not only a repeat of 2020 but a real turning point for Bitcoin. In Trump’s hands, the regulatory framework could be redefined, giving Bitcoin a prominent place in the global economy. If the past is only prologue, the crypto industry could be about to experience its brightest hours. Get ready, the show has only just begun despite the dive!
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Fascinated by bitcoin since 2017, Evariste has never stopped researching the subject. If his first interest was in trading, he is now actively trying to understand all the advances centered on cryptocurrencies. As an editor, he aspires to continually deliver high-quality work that reflects the state of the industry as a whole.
DISCLAIMER
The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.
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