Quote from Harvey CHEN on 11/06/2024, 03:14

Bitcoin recently surged to a new all-time high, a move attributed to increased optimism among crypto investors regarding a potential victory for Donald Trump in the 2024 presidential election. Trump has pledged to scale back federal regulations on cryptocurrency, including removing Gary Gensler as the SEC Chair and supporting Bitcoin as part of a U.S. strategic reserve. His pro-crypto stance, which marks a shift from his prior skepticism, has garnered significant support within the crypto community, many of whom see it as a counter to inflation and government monetary policies they view as detrimental to the U.S. dollar​.

Trump’s campaign has drawn substantial crypto donations, and his proposed policies signal a friendlier regulatory environment that could enable further growth in digital assets. The enthusiasm over Trump's policies aligns with Bitcoin's ongoing role as a perceived hedge against inflation, a factor that has also contributed to its recent price gains. With inflation concerns persisting and younger voters increasingly viewing crypto as the future of finance, a Trump win could solidify crypto’s mainstream financial role in the U.S.