Blockchain analytics platform Nansen CEO Alex Svanevik recently offered his opinions on how the U.S. presidential contest 2024 may affect the bitcoin sector. Speaking at Token2049, Svanevik contrasted the possible results of a Donald Trump or Kamala Harris administration with their implications on crypto companies both in the United States and outside.
Describing Trump as the most pro-crypto contender in the contest, Svanevik clarified that a Trump win would probably help the U.S. crypto sector. Trump is a big supporter for cryptocurrencies given his past participation in projects as well as his supporting attitude. Svanevik claims that a Trump presidency would provide a more favorable climate for American cryptocurrency companies, therefore stimulating domestic sector development.
Svanevik, on the other hand, warned that a Harris president may carry on the more cautious attitude to digital assets of the present government. Under Harris, he said, the United States would turn less friendly for crypto innovation, which would force companies to look for possibilities overseas. Already, some founders and CEOs have said they would think about moving their businesses should Harris be appointed.
On the other hand, this may help the global crypto industry as American companies traveling outside could boost development in other crypto marketplaces. Svanevik pointed out that although a Harris president could be adverse for U.S. crypto in the near future, it could be positive for the whole sector.
Although Trump is currently said to be a fan of cryptocurrencies, it is interesting to note that in 2019 he voiced doubts about Bitcoin and other digital currencies, calling them “based on thin air” and “not real money.” Notwithstanding this, his recent participation in bitcoin initiatives has strengthened his pro-crypto posture and made him a major player in the next election for the future of American crypto companies.
