Analysts believe that under this series of changes in the wind, the United States is very likely to introduce more relaxed regulatory policies, which may open up a virtual currency financial consulting industry worth as much as $20 trillion.

Author: 翻翻

Editor: odette

Source: Guokr

After the assassination attempt on Trump, the prices of virtual currencies, which had been falling for four consecutive weeks, suddenly surged.

On Monday, Bitcoin rose by 8.6% to $62,508 (a 47% increase since the beginning of the year), and Ethereum rose by 6.8% to $3,322.

The logic is as follows: Trump did not die, and his narrow escape increased the possibility of him becoming president. It is very likely that after Trump takes office, he will promote the legalization of virtual currencies, leading to a surge in Bitcoin and Ethereum.

On July 13, at a campaign event in Pennsylvania, Trump was the target of an attempted assassination by 20-year-old gunman Thomas Matthew Crooks. Trump escaped unscathed, with only a minor injury to his right ear. His performance after the incident left a deep impression, not only raising his fists and shouting "fight," but also leaving behind several dramatic photos.

Because Pennsylvania is a key swing state in the U.S. election, many analysts believe that this incident could help him gain more support from undecided voters and may even secure Trump's presidency.

Trump has always had a close relationship with the blockchain industry, promising to relax control over cryptocurrencies after taking office and even calling himself the "Crypto President." On the afternoon of the 15th, Trump nominated J.D. Vance as his running mate, making Vance the first presidential candidate in history to hold Bitcoin.

Trump and Vance, before becoming vice presidential candidates, Vance was best known as the author of the best-selling book "Hillbilly Elegy"

IG analyst Tony Sycamore said, "Trump positioning himself as a supporter of cryptocurrencies undoubtedly has had a significant driving effect on the cryptocurrency market and the bidding for Bitcoin."

If Trump really returns to the White House, we may witness a significant rise in Bitcoin prices and the arrival of the era of virtual currency payments over the next four years.

"Crypto President"

It is not difficult to understand Trump's embrace of cryptocurrencies. One of Trump's main sources of funding in this election is cryptocurrency supporters.

According to Reuters, in June of this year, Trump held a fundraising event at the mansion of billionaire and cryptocurrency supporter David Sacks, where he raised $12 million.

In addition, the virtual wallet company Coinbase also donated $25 million to the Fairshake Political Action Committee (PAC) to promote the legalization of cryptocurrencies. Fairshake raised a total of $160 million in donations during this election cycle. With Trump's clear support for cryptocurrencies, this money is very likely to help him win.

In May of this year, Trump's campaign team also announced that they would accept cryptocurrency donations, including Bitcoin, Ethereum, and Dogecoin.

Through this series of actions, he has attracted cryptocurrency supporters to his camp and has become a true "Crypto President."

Trump actively supports the cryptocurrency industry and has promised to stop Biden's crackdown on cryptocurrencies. In 2022, Biden signed an executive order increasing regulation of cryptocurrencies, restricting their trading in the United States. Over the past two years, the U.S. Securities and Exchange Commission (SEC) has filed lawsuits against cryptocurrency trading platforms such as Binance and Coindesk and imposed fines totaling over $5 billion.

According to Harmeet Kaur Dhillon, a member of the Republican National Committee, Trump has not yet revealed the specific details of his proposed cryptocurrency policy. However, in the "2024 GOP Platform Make America Great Again" released by the Republican Party this Monday, they wrote the following about their attitude towards cryptocurrencies:

"Republicans will end the Democratic Party's suppression of cryptocurrencies, defend the right to mine Bitcoin, ensure that Americans have the right to self-custody their digital assets, and trade without surveillance and control."

The platform also states that it will remove obstacles to AI development and support the development of artificial intelligence based on freedom of speech and human prosperity.｜The American Presidency Project

Analysts believe that under this series of changes in the wind, the United States is very likely to introduce more relaxed regulatory policies, which may open up a virtual currency financial consulting industry worth as much as $20 trillion.

Is Trump a Friend of New Technology?

After the assassination attempt on Trump, other stocks related to Trump also surged on Monday: Trump Media & Technology rose by 35%, cryptocurrency miner Hut 8 rose by 17%, and cryptocurrency wallet Coinbase rose by 11% to $241.98. Even Tesla saw a 3.6% increase because Musk openly expressed support for Trump.

A term has even emerged to describe economic phenomena related to Trump—Trump trade.

But does this mean that Trump is a friend of new technology?

Regarding AI, Trump has stated that he will repeal Biden's executive orders, relax regulations, and support the development of Silicon Valley's AI industry, especially the development of small and medium-sized technology companies.

However, when it comes to the security issues brought about by AI, Trump is likely to implement a more aggressive protectionist trade policy, which may further tighten control over sensitive technology industries (and talent) such as artificial intelligence, quantum computing, and chips.

Sean Maguire, a partner at Sequoia Capital, stated on X that he would donate $300,000 to Trump's campaign team. One of the reasons why Silicon Valley giants support him is the expectation of more lenient administrative management of AI.

Trump has always had a poor attitude towards tech giants.

Many of the ongoing cases against large tech companies began during the Trump administration, and his opposition to the tech giants' technological monopolies has not wavered. Interestingly, we previously reported on the dilemma of TikTok's forced sale, a process initiated by Trump. However, in an interview with Bloomberg this month, Trump stated that he no longer wants to ban TikTok and supports it.

Trump also wants to send American astronauts back to the moon and then to Mars.

The Republican platform states: Under Republican leadership, the United States will build a strong manufacturing industry in near-Earth orbit, send American astronauts back to the moon, then to Mars, and strengthen cooperation with the rapidly expanding commercial space sector, fundamentally changing our ability to enter, inhabit, and develop space assets.

Trump's presidency will bring greater uncertainty to the world, but perhaps we can buy a few hundred dollars' worth of Bitcoin_ (this comment does not constitute investment advice)_.

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