Charles Hoskinson shared his thoughts on the upcoming U.S. presidential election, suggesting that former President Donald Trump is more favorable for the crypto industry compared to Vice President Kamala Harris.
Hoskinson believes that Trump has shown greater support for crypto than Harris has.
Hoskinson for Trump
Hoskinson expressed his views in an interview with CNBC, and told that any presidential candidate who actively participates in crypto-related conferences or initiates DeFi projects is likely to be more supportive of the industry than someone who appointed SEC Chair Gary Gensler.
This statement reflects Hoskinson’s view that Trump’s actions, including his promise at a July Bitcoin Conference to advocate for favorable crypto regulations and to remove Gensler on his first day back in office, signals a stronger commitment to the crypto sector.
In contrast, Hoskinson has been critical of the Biden-Harris administration, which he feels has taken a clear negative stance toward the crypto industry.
He warned that voting for Kamala Harris could pose risks to the U.S. cryptocurrency market, and this concern is supported by the numerous enforcement actions initiated by the SEC under Gensler against major crypto companies like Ripple, Binance, and Coinbase.
The beginning of a new era, or just the same old story, again?
Since attending the Bitcoin Conference, Trump continued to show support for cryptocurrencies by launching a DeFi project called World Liberty Financial and even using Bitcoin to buy cheeseburgers for his supporters.
When asked if Trump’s support is merely opportunistic due to his family’s involvement in crypto, Hoskinson admitted that all politicians, including Trump, display some degree of opportunism.
He also expressed worries about World Liberty Financial potentially becoming a political issue for the industry.
Trump’s outreach to the crypto community is undebatable and his backing from notable crypto investors also promising, but Hoskinson is still uncertain that either candidate would advance the crypto sector in the U.S.
He did acknowledge that Trump is currently viewed as the preferred candidate from a cryptocurrency standpoint.
What if we’re wrong?
Some analysts at VanEck believe that Kamala Harris might actually be a better choice for Bitcoin overall.
They argue that her presidency could maintain current economic policies that might weaken the U.S. dollar and encourage further Bitcoin adoption.
Matthew Sigel and Patrick Bush stated in a report that a Kamala Harris presidency could be more beneficial for Bitcoin than a second term for Trump.
They explained that as inflation and currency devaluation continue to challenge fiat monetary systems, Bitcoin could become an important hedge for investors.
Others in the social media warn that it’s still better when Bitcoin grows while building the future, instead of an escape from the collapse, because collapse is way worse for everyone.
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