Why Donald Trump Will Pump Crypto: Mad Crypto Alpha With Ivan

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).

BREAKING: 🇺🇸 Donald Trump says "I will ensure that the future of crypto and #Bitcoin will be made in the USA"

"I will support the right to self custody to the nations 50 million crypto holders" pic.twitter.com/OSfUL91McJ

— Bitcoin Magazine (@BitcoinMagazine) May 26, 2024

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.

1. Like any good crypto influencer, Trump is able to “update his beliefs” fast when necessary.
2. 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?
3. He likes to create a narrative and then take credit for stuff he is, at best, partially responsible for.

I don't think you guys understand.

Trump LOVES pumping markets.

The floodgates have opened.

This is how he'll talk about crypto: pic.twitter.com/ynNna42Zlt

— pastry (@PastryEth) May 26, 2024

The narrative alone could (and in my opinion should) be enough to pump the crypto markets going into November.

If Biden and Trump truly are pro #Bitcoin/crypto heading into the presidential election that means we are going to pump so fucking hard.

I don't know how we're not already over $80K right now. News hasn't resonated yet. Going to be a major move imo.

Do your own research.

— The ₿itcoin Therapist (@TheBTCTherapist) May 22, 2024

Oh but wait, there is more.

Read Next: Ethereum ETF Approved, Elon Musk Mourns Kabosu's Death, Trump Embraces Crypto Donations And More: Top Cryptocurrency Updates

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:

Last week's headlines…

What. A. Week. pic.twitter.com/qAAMGSLz4J

— Nate Geraci (@NateGeraci) May 25, 2024

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.

Quick recap of past two weeks… pic.twitter.com/eSdgoASSTY

— Nate Geraci (@NateGeraci) May 26, 2024

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?

See Also: Was Cathie Wood Right About Crypto As An Issue In 2024 White House Race? ‘You Can’t Be On The Wrong Side

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…

JUST IN: 🇺🇸 Former President Trump says he will fire FED Chair Jerome Powell if elected in 2024. pic.twitter.com/a9HEfHYHzR

— Watcher.Guru (@WatcherGuru) February 2, 2024

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

If you liked this column, give me a follow on Twitter and sign up to our "Future of Finance" newsletter.

Shoot me a DM or Benzinga a mail if you have topic requests, and I'll see you back for next week's Mad Crypto Alpha.

gn

Read Next: EXCLUSIVE: Trump-Themed MAGA Memecoin Plans To Rival Dogecoin And Shiba Inu With ‘Four More Years Of Catalysts’

Image created using artificial intelligence with Midjourney.