Global concern over the possible election of Donald Trump, along with other macroeconomic concerns, could lead to a massive jump in bitcoin transactions, according to a new report.
The digital currency that is increasingly being linked to spikes in price during times of economic instability would likely experience such a spike following a Trump election, Juniper Research has found.
In interview, research author Windsor Holden said that it was specifically Trump’s “aggressive attitude” towards China and Mexico and “bellicose statement towards Muslims” that have him and some other economists concerned.
Holden, who is also Juniper’s head of forecasting, said that Trump’s “hostility to free trade” could lead to the imposition of tariffs and that his threats to ban Muslim’s from entering the US could serve as a recruiting tool for jihadists.
Holden told CoinDesk:
“Should these outcomes come to pass, then there will clearly be a substantial negative effect on numerous national economies, including the US itself. Hence, should it appear that a Trump Presidency is a distinct possibility, expect a marked uplift in the volume of bitcoin transaction(s) – and in the value of bitcoin itself.”
More than Trump
A depreciation in the value of the yuan