Crypto to Get Election Boost as GOP Backs Blockchain: Bernstein

Digital assets will benefit as the US presidential election approaches, with improving odds of a Republican victory raising hopes for more favorable cryptocurrency regulations, Bernstein analysts Gautam Chhugani and Mahika Sapra wrote in a note to clients Monday.

• “If the election sentiment shifts more Republican, crypto would end up as the primary ‘Trump trade’ and hopes of a favourable regulatory regime would change the ‘use-case’ narrative around blockchains such as ETH,” the analysts wrote
• Republicans see digital currencies as a fundraising catalyst, with crypto super PACs supporting candidates who favor the assets, they wrote
• New bullish crypto cycle is a ...