Recently, there has been a lot of hype online about a piece of news regarding Trump's support for cryptocurrency.

Here's what happened:

During a recent public gathering, Trump called on Americans who support cryptocurrency to vote for him and welcomed donations from cryptocurrency.

At the event, Trump mocked the current president for being ignorant about cryptocurrency and also criticized the Democratic Party for being unfriendly towards cryptocurrency.

A young person at the scene asked the former president:

Smart people in the United States in the cryptocurrency field are moving their businesses out of the country because they are afraid of the US government's hostility towards cryptocurrency. How will he stop this?

Before the young person could finish, Trump said he didn't want this to happen, and if the US wants to embrace cryptocurrency, it must keep these people in the country.

As soon as he finished speaking, the whole audience applauded, and the young person also smiled happily.

In fact, Trump's attitude towards cryptocurrency has only changed in the past two years.

Initially, he was explicitly against cryptocurrency because he believed that cryptocurrency would weaken the international status of the US dollar. But now, numerous facts have shown that cryptocurrency not only has not weakened the status of the US dollar, but has become a new area where the US dollar has pricing power.

So at least the issues Trump was worried about do not exist.

Furthermore, I think the more important point is:

Trump himself has benefited a lot from cryptocurrency: his team has issued NFTs on Polygon twice, earning probably tens to hundreds of millions of dollars—profit is small, but it's a big boost for his publicity.

This move is more to attract young people and garner support for his next election.

For a "calculating" businessman who is eager to run for office again, the benefits and losses brought by cryptocurrency to him are clear.

So it's not an exaggeration to say that his current friendliness towards cryptocurrency is "the tail wagging the dog."

I believe that if he is truly elected, these promises will probably be fulfilled.

A few months ago, several major polling agencies in the United States evaluated various potential candidates for the final showdown from more than ten perspectives, and the results all showed that Trump was significantly ahead of his Democratic opponents in the polls.

So as long as Trump does not go to jail or encounter a black swan event before the election, his chances of winning are greater than those of his opponents.

If this speculation comes true, it can be imagined that after he is elected, the chairman of the US Securities and Exchange Commission will probably be replaced by a new leader friendly to cryptocurrency.

This will be beneficial for the entire cryptocurrency ecosystem, especially the approval of the Ethereum spot ETF.

The recent withdrawal of Grayscale's application for the Ethereum spot ETF, in my opinion, indicates that as long as the current chairman is still in office, it will be difficult for the Ethereum spot ETF to be approved during his tenure.

So I think if we expect the approval of the Ethereum spot ETF to be a positive development, the greatest possibility is after Trump is elected.

I remember in our last Twitter exchange, I once made a conjecture: I imagine that the next bull market will probably continue until between March and August 2025.

If Trump is elected and officially inaugurated as president on January 20, 2025, it is possible that the Ethereum spot ETF will be approved at some point between March and August next year.

If this positive news is released at that time, triggering external funds to flock to cryptocurrency, especially Ethereum, it will likely be a significant boost to the entire market during the bull market peak.

At that time, this positive development is also likely to push up the current relatively sluggish price of Ethereum, thereby raising the price of Ethereum to Bitcoin from the current 20 Ethereum to 1 Bitcoin to probably 15 Ethereum to 1 Bitcoin.

Of course, what I have written above is purely speculation, just a pastime in a boring market.

This Saturday (May 11) at 8 p.m., we will hold an online exchange on Twitter. For details, please see the link below:

https://x.com/DaosViews/status/1787331370689446081

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