Standard Chartered: Trump's election victory could be good for Bitcoin

Standard Chartered Bank said in a research report that the risk of US fiscal dominance brought about by the Federal Reserve's monetization of government debt is rising. In this case, investors may seek alternative assets including cryptocurrencies, which is good for cryptocurrencies. In addition, the Standard Chartered Bank report also pointed out that if Trump wins the election, his second-term government may promote a more supportive regulatory environment, which is positive for digital assets. Trump's return to the White House may accelerate the withdrawal of foreign official buyers from the US Treasury market due to fiscal concerns. During Trump's first term, foreign investors sold an average of $207 billion in US Treasury bonds each year, while this figure was only $55 billion during Biden's administration. Standard Chartered Bank reiterated its Bitcoin target price of $150,000 at the end of the year and $200,000 at the end of 2025. The report said that Bitcoin prices are positively correlated with the steepening of the US Treasury yield curve, rising inflation expectations and increased term premiums. (Coindesk)