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- Over the weekend, Joe Biden was officially announced as the 46th president of the United States following a hectic week in United States politics.
- Whereas his predecessor, Donald Trump, did not take the news well and is yet to concede the election.
Over the weekend, Joe Biden was officially announced as the 46th president of the United States following a hectic week in United States politics. Whereas his predecessor, Donald Trump, did not take the news well and is yet to concede the election.
With the election campaign now done and dusted, Kamala Harris and Joe Biden will be inaugurated at the end of January 2021. Many analysts and investors are now looking at how a Biden administration would impact the world of bitcoin with many of them excited about what it will mean with this new president.
The reason for this is because Trump is well known to dislike the world of cryptocurrency. In June last year, he published a tweet announcing that he is “not a fan“ of bitcoin or any alternative cryptocurrencies. He particularly highlighted the narrative that crypto is primarily used for money laundering and other malicious activity.
Whereas both presidents are from the same generation, it is tough to say how they will both perceive new technologies such as crypto and the blockchain. Stereotypically, the older generations aren’t as big fans of bitcoin but it will be interesting to see how Biden approaches it.
So far, Biden has not said anything negative in regards to the industry and as a result of this, experts on Twitter such as Qiao Wang believe that Biden being in the oval office is going to be better for the industry than a Trump administration.
He explained on Twitter saying:
The real winner is crypto:
– Biden to hire Bitcoin-friendly Gary Gensler
– Trump/Mnuchin openly hostile towards BTC
– SBF 2nd largest contributor to Biden
– A likely Republican senate to counter Dems’ aggressive regulation tendencies
Looking forward to the next few years 🚀🚀🚀
— Qiao Wang (@QwQiao) November 8, 2020
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