In light of Donald Trump‘s announcement of Sen. J.D. Vance (R-Ohio) as his running mate for the 2024 presidential election, entrepreneur and investor Ankur Jain suggests that this move could potentially alter the stance of Palantir Technologies Inc. co-founder Peter Thiel towards Trump.
What Happened: Jain, the CEO of Bilt Rewards, noted in an interview with CNBC’s Last Call that Thiel, a prominent figure in the tech industry, has close ties with Vance. This could lead to a shift in Thiel’s previous decision not to donate to Trump.
“Thiel had said he would not donate to Trump. Obviously, he has very close ties with JD [Vance]. I would wager this changes that calculus,” Jain said.
Thiel, who is also a co-founder of PayPal Holdings Inc., and Founders Fund, was a vocal supporter of Trump during the 2016 election, even donating over $1 million to his campaign.
However, his stance on the Trump administration shifted in November, with Thiel expressing disappointment and terming it as “crazier” and “more dangerous” than he anticipated.
However, Thiel pledged his support for Trump in the 2024 election, stating that he would rather have Trump than President Joe Biden.
With Vance, a U.S. Senator and venture capitalist, now on the ticket, Thiel’s position could be in flux. Vance, who has received backing from Thiel for his venture capital firm Narya Capital, is also an investor in Rumble Inc.
Jain also highlighted the importance of the new White House administration understanding the concerns of tech leaders, especially in areas like artificial intelligence, to keep America competitive on a global scale.
See Also: Bitcoin, Ethereum, Dogecoin Continue Their Green Streak, But ‘Big Test’ Could Come On A $60K Retest
Why It Matters: The selection of Vance as Trump’s running mate was announced on Monday, during the Republican National Convention in Milwaukee. Trump described Vance as the best suited for the vice-presidential role, highlighting his talents and contributions.
The pro-crypto stance of the Trump-Vance ticket has also caught the attention of market analysts. Todd Gordon, founder of Inside Edge Capital, predicted that Bitcoin BTC/USD could surpass the $100,000 mark, citing the pro-crypto policies of the potential administration.
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Photo courtesy: Wikimedia
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
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