JPMorgan Chase said in a report released Thursday that it believes bitcoin will continue to benefit from a Republican victory in the US Presidential Election. The report says a Trump victory will reverberate in the next eight weeks or so in a manner similar to 2016. While bitcoin has soared and gold prices have fallen as a result of Trump's victory, Trump's policies could support both in 2025. As traders try to hedge against currency depreciation and geopolitical resistance, both gold and bitcoin could benefit from a "depreciation trade". JPMorgan believes that Trump has repeatedly said that he will support the digital asset industry and increase tariffs, both of which could ultimately help bitcoin.