CandleFocus Polymarket predicts an 88% chance of Trump picking pro-Bitcoin Scott Bessent for Treasury secretary
2024-11-12
Author: Content Editor
The prediction platform Polymarket suggests that Scott Bessent has an 88% probability of becoming the next Treasury secretary under a possible second Trump administration, making him a potential advocate for cryptocurrencies. Bessent is described as "very pro-crypto" and believes that the crypto economy is here to stay and fits well with the Republican Party. If appointed, Bessent could bring significant changes to US economic policy regarding digital assets, possibly including the establishment of a strategic Bitcoin reserve. The crypto industry has become a significant political donor and is seeking regulatory clarity amid Congress's failure to pass comprehensive crypto legislation. Trump's transition team is reportedly reviewing pro-crypto candidates for key regulatory positions, including the SEC chairmanship, which would represent a shift from Chairman Gary Gensler's enforcement-focused approach.
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