Bitcoin reached a record high after Trump’s re-election, with major bank stocks also surging. JPMorgan’s Stefan Gratzer suggests Trump’s policies could significantly impact markets, especially in tax, deregulation, and crypto.
Bitcoin experienced an all-time high on Tuesday as markets continued to respond to Trump’s re-election. Furthermore, a Quartz study indicated that the shares of JPMorgan and Citigroup increased by 8%, Wells Fargo by 12%, Bank of America by 7%, Morgan Stanley by 9%, and Goldman Sachs by 10% in the wake of Trump’s victory.
If tax, deregulation, and cryptocurrency policies are altered, Stefan Gratzer, MD at JPMorgan, has a significant opinion that Donald Trump‘s second coming could have a “substantial impact” in the first two years.
Gratzer stated at a conference in Kuwait on Sunday, “One of the most distinctive aspects of Trump’s policy was his stance on crypto. Let us observe how this unfolds.”
This may be entirely novel, and its implications are unknown. Currently, there is a significant amount of discussion regarding deregulation, which is undoubtedly advantageous for financial institutions such as ours; however, we must wait and observe.
There is a significant amount of optimism that Trump’s pro-growth pledges, which are focused on tax cuts and deregulation, could generate yet another round of economic growth, given the Federal Reserve’s inclination toward an easy-money attitude.
There is a widespread expectation that Trump’s policy proposals, which encompass a multitude of tax reductions, will expedite economic growth and attract new business for lenders.
