The US presidential election to be held on November 5 has entered a heated stage, and former US President and Republican candidate Trump, who has publicly supported cryptocurrencies several times this year, is seen by the market as likely to bring a relaxed regulatory policy for the crypto industry and drive market growth if he wins, which is widely supported by the crypto community.
Further reading: Why does the crypto world want Trump to win?
Trump's economic advisor: Trump may support a strong dollar policy
However, Scott Bessent, Trump's chief economic advisor and a leading candidate for the position of Treasury Secretary in the Trump administration, said in an interview with the Financial Times over the weekend that if Trump ultimately wins, he may continue the "strong dollar policy" that the US has maintained for decades, which would limit risk assets priced in dollars, including Bitcoin.
Trump will not deliberately devalue the dollar, it will support the dollar as a reserve currency.
A reserve currency can rise or fall with market fluctuations, and I believe that as long as there are good economic policies, the dollar will naturally be strong.
My overall view is that he is ultimately a free trader.
At the same time, Bessent also commented on Trump's earlier proposed tariff of up to 20% on imported goods, saying that the plan would ultimately be weakened in discussions with US trade partners.
Trump's winning probability rises to 54.1%
Although Bessent believes that Trump's economic policies after taking office may to some extent limit the rise of cryptocurrencies, according to the latest data from the blockchain prediction platform Polymarket, the market's bet on Trump's victory has pulled away from the Democratic candidate Kamala Harris, with Trump's support rate reaching 54.1%, while Harris currently has only 45.2%.
