Billionaire Sees Donald Trump as the Best Choice for Bitcoiners
18.07.2024 10:00 1 min. read Alexander Stefanov
More and more financial experts, analysts and tech CEO's see Donald Trump's potential second mandate as the right path for Bitcoin and crypto in general.
Business mogul Mark Cuban recently shared his views on the growing support from Silicon Valley for former U.S. President Donald Trump, linking it to potential impacts on the cryptocurrency market, especially Bitcoin.
Cuban suggests that Silicon Valley’s endorsement of Trump is less about his pro-crypto stance and more about anticipated changes at the SEC that could simplify running a crypto business. This shift in political allegiance, he notes, is driven by frustration with President Biden’s policies.
Several notable tech leaders, including Joe Lonsdale, Marc Andreessen, Ben Horowitz, and the Winklevoss twins, have shown support for Trump. However, Elon Musk, despite past support, has stated he has no plans to contribute to the super-PAC backing Trump.
Cuban believes Trump’s policies on low taxes and tariffs could lead to inflation, which, coupled with geopolitical instability, would benefit Bitcoin. He argues that Bitcoin, with its capped supply of 21 million and the ability for unlimited fractionalization, could emerge as a global safe haven.
In countries experiencing hyperinflation, Bitcoin already serves as a shield against the devaluation of savings, and Cuban sees this trend continuing on a larger scale amid geopolitical and economic uncertainties.
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