Donald Trump

Arthur

President Donald Trump

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 Arthur Hayes, the founder of BitMEX and CIO of Maelstrom, has challenged the widespread belief that former U.S. President Donald Trump supports Bitcoin.
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During a<a style="color: #0000ff;" href="https://x.com/CryptoHayes/status/1851925271596929439" rel="noopener noreferrer nofollow"> recent interview with Channel News Asia</a>, Hayes declared that if Trump were to be re-elected, his administration would likely not favour Bitcoin through direct regulation or support. He noted that while many crypto holders view Trump as an ally to digital currencies, his previous administration did not enact any significant pro-crypto policies.
Notably, Trump, the Republican party candidate for the White House’s top position, has been <a href="https://defi-planet.com/2024/08/trump-urges-u-s-to-prioritize-crypto-industry-development-to-keep-pace-with-china/" rel="noopener noreferrer nofollow">actively engaging the crypto sector</a> with the promises of implementing favourable policies if re-elected.&nbsp;
The former CEO of BitMEX further suggested that the upcoming November election might not drastically alter the crypto landscape, regardless of whether Trump or Vice President Kamala Harris assumes office. He anticipates that both candidates would adopt economic policies—such as increased spending and welfare under Harris or tax cuts under Trump—that could push the U.S. into higher debt and stimulate inflation, potentially benefiting Bitcoin and other crypto assets.
Hayes emphasized that both candidates would likely pursue policies that weaken the U.S. dollar, indirectly making digital assets more attractive as a hedge.
These comments from Hayes come as a recent report revealed that cryptocurrency is becoming a pivotal campaign issue in the U.S. for the first time. The report highlighted the growing impact of crypto policy on voter preferences, with 73% of the surveyed U.S. citizens stating that a candidate’s crypto stance would influence their vote and 37% indicating it would have a “significant impact.”
READ MORE: <a style="color: #0000ff;" href="https://defi-planet.com/2024/09/us-presidential-elections-73-of-us-crypto-owners-say-candidates-position-will-influence-their-vote-survey/" rel="noopener noreferrer nofollow">US Presidential Elections: 73% of US Crypto Owners Say Candidate’s Position Will Influence Their Vote – Survey</a>
Meanwhile, Hayes shared his insights on what could drive the next Bitcoin rally. In addition to developments in the U.S., he emphasized that China’s imminent economic stimulus could significantly influence Bitcoin’s performance. He pointed out China’s quantitative easing strategy, which aims to stabilize the yuan as the country grapples with a deep economic downturn. Hayes projected that increased liquidity from this stimulus would lead to higher demand for Bitcoin as investors seek a hedge against potential currency devaluation.
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The post <a href="https://defi-planet.com/2024/10/trumps-re-election-unlikely-to-favor-bitcoin-arthur-hayes/" rel="noopener noreferrer nofollow">Trump’s Re-election Unlikely to Favor Bitcoin — Arthur Hayes</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Trump’s Re-election Unlikely to Favor Bitcoin — Arthur Hayes

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