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Mark Cuban Says Silicon Valley’s Trump Embrace Revolves Around Cryptocurrencies
Venture capitalists and other Silicon Valley figures have embraced Donald Trump’s bid to reclaim the U.S. presidency. Their motivation? For billionaire Mark Cuban, it’s driven by cryptocurrencies.
“It’s a bitcoin move,” Cuban wrote on X on Wednesday. Trump as president “makes it easier to run a cryptocurrency business because of the inevitable and necessary changes to” the U.S. Securities and Exchange Commission, he added.
The cryptocurrency industry has harshly criticized the SEC for making it difficult to operate a digital asset business in the United States (Cuban is no stranger to criticizing the SEC, the market regulator he works with). once argued on insider trading charges. He won.)
Under Trump, who seems to be before President Joe Bidenthe stage is set for inflation and uncertainty about the U.S. role in geopolitics, Cuban said. “The stars could not be aligned better for a BTC price acceleration,” he wrote.
“How high can the price go? Much higher than you think. Remember, the market for BTC is global. And the supply is capped at 21m BTC, with unlimited splits,” Cuban added.
This week was reported that big VCs Marc Andreessen and Ben Horowitz plan to donate money to Trump’s campaign. Their firm, Andreessen Horowitz, has a crypto arm.
Coinbase, the cryptocurrency exchange based in the city of San Francisco in Silicon Valley, format the Fairshake political action committee, which has supported pro-crypto candidates and tried to defeat anti-crypto candidates. It is one of the largest PACs this election cycle.
Trump’s pick for vice president, Sen. J.D. Vance, has Silicon Valley ties.
“If things really go further than we can imagine today (and I’m not saying they will. Just that there’s a possibility somewhere above zero), then BTC will become exactly what the big guys imagine,” Cuban wrote Wednesday. “A global currency.”