gm,
I’m Ivan and welcome to my weekly column Mad Crypto Alpha.
In this week’s issue: why this guy is crypto’s biggest key opinion leader (aka shill).
You May Not Like Him, But Your Crypto Net Worth Is In The Hands Of This Man
You have to give it to Donald Trump.
His 180 on crypto is impressive even by his standards.
How it started:
- “Bitcoin is a scam” and “crypto is a disaster waiting to happen” (well, he was right on the latter).
How it’s going:
- “I will ensure the future of crypto and Bitcoin BTC/USD will be made in the USA“
- “I make money with it, I have fun with it too. Crazy new currencies, that’s what I call them. They’re crazy new currencies, whether it’s Bitcoin or others.”
- “To protect Americans from government tyranny, as your president, I will never allow the creation of a central bank digital currency.”
I predicted this, although the speed and intensity of the pivot surprised me too.
Trump has all the attributes I want from a successful crypto shill key opinion leader.
- Like any good crypto influencer, Trump is able to “update his beliefs” fast when necessary.
- He loves attention, another key trait for a successful crypto KOL. A Lambo is nice, but have you tried putting your own name on an airplane and a tower?
- He likes to create a narrative and then take credit for stuff he is, at best, partially responsible for.
The narrative alone could (and in my opinion should) be enough to pump the crypto markets going into November.
Oh but wait, there is more.
Your Turn, Democratic Party
Let’s remember that about a week ago, the chances of the spot Ethereum ETH/USD ETFs happening were about 10%. Proof:
Then Trump started shilling crypto and, surprise surprise, not only do ETH ETFs get approved (with the SEC refusing to elaborate further), but also the FIT21 “crypto bill” passes the House.
Coincidence?
Maybe. And for the record, the bill isn’t (to my knowledge) passing the Senate anytime soon, but this is a surprising and sudden shift in sentiment and hard facts as far as crypto policy goes.
An unexpected love story, right in front of our eyes.
And Trump, directly or indirectly, probably contributed to this by vocally embracing cryptocurrency.
Let’s face it: crypto will not be a top 10 election issue (see here). But it’s also not worth alienating a passionate and wealthy minority over.
In Trump, the crypto lobby found the perfect person to advance its interests. Someone who doesn’t fundamentally care about its potential or risks but likes number going up and is happy to embrace a fundamentally unimportant topic for votes.
Still not convinced?
How The Trump Pump Could Happen
Will the next president try to cut spending and be fiscally responsible?
Could the next president, by accident or by design, preside over a recession that necessitates a bit of, y’know, monetary stimulus?
You bet.
Would Donald Trump specifically like to pump the markets and actively try to make that happen?
Well…
Fed Chair Jerome Powell himself has said that the U.S. is “on an unsustainable fiscal path.”
That means the flight of capital into assets — stocks, real estate and crypto — is likely to continue.
In my humble opinion, under a President Trump, it would accelerate (more) than under a President Biden II.
None of this is financial advice, but if you asked me whether a candidate that accepts donations in, *checks notes*, Dogecoin DOGE/USD and Shiba Inu SHIB/USD is bullish for crypto…
….I would not have to think twice.
Wrapping It Up
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gn
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