Standard Chartered Bank says that Donald Trump’s reelection as US president in 2024 could catapult Bitcoin’s value. In fact, Standard Chartered Bank stated that Trump’s return in the Oval Office would be met with favorable regulation from the administration.
This election is going to have a major impact on the US regulatory environment for digital assets. Donald Trump’s perceived front-runner status is further heightened by the fact that November is only six months away. This is another rematch of the battle for 2020.
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Standard Chartered predicts Trump’s reelection to benefit Bitcoin
Digital asset regulation in the United States is a bit uncertain. Many companies are forced to compete with regulators. US Securities and Exchange Commission (SEC) A number of suits have been filed. This has weakened the global presence of this sector.
One bank, however, has said that this could change. Standard Chartered Bank says that Donald Trump’s reelection in 2024 could be a catalyst for Bitcoin. The Standard Chartered Bank notes that the current regulatory environment may benefit the whole industry.
“We think a second Trump administration would be broadly positive via a more supportive regulatory environment,” The bank made this statement in its research report on Thursday. They also noted that Bitcoin offers “a good hedge against de-dollarization and declining confidence in the US Treasury market.”
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Trump has focused on the prevalence of de-dollarization in international practices. In fact, some reports indicate that Trump’s administration will try to compete with the emerging BRICS group. Standard Chartered suggests that Bitcoin could play a role in these efforts.
Trump spoke about the asset in an earlier month. CNBC. In that interview, he stated his intention to support the industry and said he didn’t intend to “take it away at this point.”Although he did not have Bitcoin in his possession, he recognized its increasing prevalence.
Trump’s focus has been on the US Dollar. Bitcoin’s contribution to the US dollar may lead to positive changes in regulatory discussions regarding BTC.
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Source: watcher.guru
