Venture capitalists and other Silicon Valley figures have embraced Donald Trump’s bid to reclaim the U.S. presidency. Their rationale? For billionaire Mark Cuban, it’s cryptocurrency.
“It’s a Bitcoin game,” Cuban said on Wednesday on X, adding that Trump as president “makes it easier to run a cryptocurrency business because of the inevitable and needed changes” to the U.S. Securities and Exchange Commission.
The crypto industry has been highly critical of the SEC for making it difficult to regulate digital asset businesses in the United States (Cuban is no stranger to criticizing the SEC, the markets regulator with whom Cuban has been working). I had a fight once Regarding allegations of insider trading. Profit.)
Under Trump, who appears to be ahead of President Joe Biden, the stage is set for inflation and uncertainty about the U.S. role in geopolitics, Cuban said. “You couldn’t align the stars better for Bitcoin to accelerate,” he wrote.
“How high can the price go? Much higher than you think. Remember, the Bitcoin market is global. The maximum supply is 21 million Bitcoin, with unlimited hashrate,” Cuban added.
This week, it was mentioned VCs Marc Andreessen and Ben Horowitz are planning to donate money to support the Trump campaign. Their firm, Andreessen Horowitz, has a crypto arm.
Coinbase, the cryptocurrency exchange based in San Francisco, Silicon Valley, formed Fairshake, a political action committee that has supported pro-crypto candidates and tried to defeat anti-crypto candidates. It’s one of the largest PACs this election cycle.
Trump’s choice for vice president, Senator J.D. Vance, has ties to Silicon Valley.
“If things really go further than we can imagine today (and I’m not saying they will. Just that it has a probability somewhere above zero), Bitcoin will become exactly what Maxis envisions,” Cuban wrote Wednesday. “A global currency.”
“Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff.”
