Matthew Sigel, head of digital asset research at VanEck, and Nathan Frankovitz, a digital asset investment analyst, said in a report that the outcome of the November election could be mixed for cryptocurrencies. VanEck wrote: "However, from a Bitcoin perspective alone, we believe the election of Kamala Harris as president could be more beneficial for Bitcoin than Trump's re-election, as it would, in our view, accelerate many of the structural issues driving Bitcoin adoption, and if that happens, Bitcoin's unique regulatory transparency could make it more competitive than other digital assets." However, according to VanEck's latest analysis, the entire crypto industry would reap the rewards if Trump were to become president for a second time. "We believe that a Trump presidency would be beneficial for the entire crypto ecosystem in general, as it could generate more deregulation and business-friendly policies - perhaps especially for crypto entrepreneurs, who have come under increasing scrutiny from regulators over the past four years," the analysts said.