As a researcher with a keen interest in both politics and cryptocurrencies, I find myself intrigued by the divergent views expressed by Charles Hoskinson and VanEck analysts regarding the potential impact of Trump or Harris on the crypto industry.
According to Charles Hoskinson, the creator of Cardano, it appears that Donald Trump might have a stronger chance in the upcoming U.S. presidential election due to his demonstrated interest and potential support for the American cryptocurrency sector compared to Vice President Kamala Harris.
Hoskinson Favors Trump For His Support Of Crypto Industry
At the TOKEN2049 conference held in Singapore, Hoskinson expressed strong backing for the Trump administration. In a CNBC interview on September 20th, he stated that candidates who engage with cryptocurrency conferences or launch Decentralized Finance (DeFi) projects are likely to be more favorable towards the industry compared to those who appointed Gary Gensler as SEC Chair.
As an analyst, I’m noting a contrasting approach between Trump and Hoskinson regarding cryptocurrency regulations under different administrations. Trump, at a July Bitcoin Conference, expressed his intention to support beneficial crypto regulations and hinted at dismissing Gensler on his first day as president. Conversely, Hoskinson has been vocal in his criticism towards the Biden-Harris administration, expressing the belief that it has adopted an unfriendly posture toward the crypto sector.
He went so far as to assert that voting for Kamala Harris would threaten the US cryptocurrency sector. This sentiment is echoed by the numerous enforcement actions initiated by the SEC under Gensler’s leadership against major crypto businesses such as Ripple, Binance, and Coinbase.
After attending the Bitcoin Conference, I’ve noticed Donald Trump expressing his backing for the cryptocurrency industry in multiple ways. For instance, he introduced a Decentralized Finance (DeFi) project named World Liberty Financial, and even used Bitcoin to distribute cheeseburgers among his supporters. When questioned about Trump’s crypto support being opportunistic due to his family’s ties to the sector, Hoskinson conceded that all politicians, including Trump, exhibit a certain level of opportunism.
During an interview with the Financial Times on September 20th, Hoskinson voiced his apprehensions about the Trump-endorsed project, World Liberty Financial. Specifically, as the creator of Cardano, he is wary that this platform might be drawn into political debates. In essence, Hoskinson expressed his concern that a decentralized finance (DeFi) application supported by Trump could pose challenges for the industry.
VanEck Analysts Favor Harris Administration For Bitcoin
Despite Trump’s recent outreach to the crypto industry and support from prominent cryptocurrency investors, Charles Hoskinson remains somewhat skeptical that either Trump or Kamala Harris, if elected, would significantly advance the development of the cryptocurrency industry in the U.S. However, he did note that Trump “is the favorite (presidential candidate) from a cryptocurrency perspective.”
As a researcher examining this topic, I find it intriguing to consider the viewpoint of analysts at VanEck who propose Kamala Harris as a potentially optimal choice for Bitcoin. Their argument is that if elected, Harris’ presidency could continue current economic policies, which might erode the strength of the US dollar and spur increased adoption of Bitcoin.
As a researcher, I find myself expressing a perspective shared by Matthew Sigel and Patrick Bush: A presidency led by Kamala Harris might prove more advantageous for Bitcoin than another term for Trump. This is primarily due to the potential acceleration of structural issues that contribute to Bitcoin’s acceptance as a currency. In their report, they further suggest that as inflation and devaluation of fiat currencies persist as challenges within our existing monetary systems, Bitcoin could emerge as an essential safeguard against such issues.
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2024-09-22 04:11