The Crypto Community Welcomes Joe Biden’s Victory

Kataryna Habeliia November 9, 2020

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The Crypto community welcomes Joe Biden’s victory in the presidential election

Many representatives of the cryptosphere are happy that Joe Biden won the presidential elections in the United States. The final victory of the Democratic candidate was previously reported by the American media.

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The crypto community believes that, unlike Donald Trump, Joe Biden will be more liberal about digital currencies and the blockchain industry in general. Galaxy Digital CEO Mike Novogratz was one of the first to comment on the victory of the Democratic candidate.

He stressed that the new administration will speed up the launch of the incentive program. In this situation, a further increase in investor interest in bitcoin is inevitable, as the dollar will become less attractive against the backdrop of inflation.

Alliance team leader Qiao Wang also believes that Biden’s victory is a very good signal for the cryptocurrency industry. On Twitter, he wrote that Donald Trump and his Treasury Secretary Stephen Mnuchin were pushing the crypto sphere in every possible way.

The current head of the White House himself was critical of Bitcoin and other cryptocurrencies. According to Trump, criminals are using such assets.

Wang noted:

“Democrats are more likely to provoke inflation, which will benefit BTC.”

Analysts of the Bloomberg agency previously wrote about the positive consequences of Biden’s victory for the cryptosphere. They published a report in which they noted that the new US administration will not only speed up the adoption of cryptocurrency but may also approve the launch of Bitcoin-ETH crypto funds.

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