Bittime - With the 2024 US Presidential Election approaching, the crypto world is starting to highlight the possible impact of Donald Trump's victory. The former president's views on crypto assets, especially Bitcoin, have undergone significant changes. If re-elected, Trump's policies could have a major impact on the crypto market.
Trump's Crypto Policy: From Skepticism to Acceptance
During his last term in office, the Trump administration showed skepticism towards cryptocurrencies. However, in recent times, Trump has begun to acknowledge the potential of Bitcoin and other digital currencies.
His 2024 campaign has even started accepting donations in the form of Bitcoin and other cryptocurrencies, signaling a wider acceptance of crypto in political fundraising.
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Bitcoin as a hedge
Experts predict that Trump's second term could affect the US fiscal landscape, which in turn will impact Bitcoin's attractiveness as an investment.
Research from Standard Chartered suggests that the increasing US fiscal dominance—characterized by increased government debt monetization—could increase the attractiveness of cryptocurrencies as alternative assets.
In this scenario, Bitcoin is seen as an effective hedge against potential de-dollarization and a decline in confidence in the US Treasury market.
Crypto Regulation Changes
The regulatory environment under the Trump administration could change to be tighter or looser, depending on the economic priorities and fiscal policies adopted. During the previous term, there was strict scrutiny of crypto regulation.
However, it is possible that Trump could leverage cryptocurrencies as a tool of economic innovation and to improve global financial competitiveness.
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Blockchain Technology Support
According to a report from CoinDesk, Trump and some Republicans have shown a greater interest in technological innovation, including blockchain technology. This adds to speculation that crypto policy under the second Trump administration could be more supportive than before.
Crypto Donations for Campaigns
Trump's receipt of campaign donations in Bitcoin and other cryptos reflects the increasing adoption of crypto in U.S. politics. This paved the way for new fundraising methods and showed confidence in digital currencies as a legal tender.
This campaign could inspire other politicians to adopt a similar approach, which could drive wider adoption of crypto in society.
The Future of Crypto in Trump's Hands
The potential re-election of Donald Trump in 2024 presents opportunities and challenges for Bitcoin and the crypto market as a whole. While the policy can encourage the growth of digital assets through supportive fiscal policies, regulatory uncertainty remains a challenge.
Investors and market participants must remain vigilant and ready to adapt to the ever-changing political landscape, which shapes the regulatory and economic framework of cryptocurrencies.
As such, regardless of the outcome of the election, it is important for crypto holders and market participants to stay up-to-date and understand how political policies may affect their investments in the future.
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have a sufficient balance by depositing a certain amount of funds into the wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can only buy crypto assets on the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational and does not constitute an offer or solicitation to sell or buy any crypto assets. Crypto asset trading is a high-risk activity. The price of crypto assets is volatile, where prices can change significantly over time and Bittime is not responsible for changes in fluctuations in the exchange rate of crypto assets.
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