US Election 2024: Trump's Policies and Potential Market Impact
The recent speculation around Donald Trump possibly running in the US presidential election has sparked notable interest within the Bitcoin community. According to Capital.com, 2024 could mark a historical milestone with the potential launch of Bitcoin-Spot ETFs, allowing American investors to directly invest in Bitcoin through exchange-traded funds. This development may simplify access for private and institutional investors and could enhance credibility and acceptance of the cryptocurrency sector.
A significant anticipated event is the "Bitcoin-Halving" projected for mid-April 2024. This process is a form of artificial supply reduction, where miners' rewards are halved, reducing the new Bitcoin production rate until all are mined around 2140.
During his campaign, Trump made notable promises to transform America into a crypto-friendly nation, labeling himself “the Bitcoin President.” His proposals included replacing SEC Chairman Gary Gensler with Paul Atkins, who holds more favorable views towards cryptocurrencies. Plans to establish strategic digital asset reserves, similar to those for oil stocks, highlight the importance of digital assets in future economic strategies. These initiatives could potentially benefit the mining industry significantly due to promised cheaper electricity costs and administrative support for growth and innovation. However, risks remain high given the market's volatile nature and the uncertainty surrounding the implementation of these ambitious plans. It remains to be seen how much can be achieved once the new term begins in February following the inauguration in January.
The unfolding dynamics between global finance and politics intersect in increasingly complex ways, evolving faster than ever before.
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