Is a Kamala Harris Presidency Best for Crypto Prices: VanEck Prediction
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
The crypto community is closely watching how the upcoming election impact the industry.
While former President Donald Trump has labeled himself the “crypto president,” actively advocating for the sector, Vice President Kamala Harris, the Democratic nominee, has maintained a more restrained stance since joining the race.
According to Matthew Sigel, VanEck’s Head of Digital Assets Research, and Nathan Frankovitz, a digital asset investment analyst at the firm, both a Harris and a Trump administration could be bullish for Bitcoin, but the broader digital asset market might experience divergent outcomes under their leadership.
VanEck outlined a scenario in which a Harris presidency could see the retention of SEC Chair Gary Gensler, known for his stringent stance on cryptocurrency regulation.
This, coupled with Harris aligning her financial policies with the more regulatory-focused wing of the Democratic party, represented by Senator Elizabeth Warren, could create a challenging environment for institutional adoption of digital assets.
Such a regulatory climate could stifle innovation and growth within the sector, posing challenges to broader crypto market development.
However, there is a silver lining for Bitcoin enthusiasts.
VanEck suggested that a Harris presidency might, paradoxically, be more beneficial for Bitcoin than a Trump administration.
The firm argued that the structural issues potentially exacerbated under Harris, such as increased fiscal spending and regulatory tightening, could drive more investors to Bitcoin as a hedge
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