“Possible Implications of New Discovery Leave Room for Speculation”
U.S. Representative Tom Emmer (R-MN) believes that the cryptocurrency sector will see positive outcomes if Donald Trump is re-elected as president. While Trump has expressed skepticism towards Bitcoin, calling it volatile and based on thin air, there is speculation among lawmakers that a Trump victory in the 2024 presidential election could lead to new price highs for Bitcoin. Emmer, a pro-crypto congressman, envisions a regulatory environment that supports the overall crypto sector if Trump returns to the White House. Despite Trump’s initial reservations about cryptocurrencies, he has recently ventured into the space by launching three NFT collections. An analysis of blockchain data reveals that Trump has liquidated millions of dollars worth of Ethereum from his NFT sales. Brian Brooks, a former executive at Coinbase, believes that individuals appointed by Trump to regulatory positions will be more open to crypto compared to the current administration. While Trump has warned of a potential stock market crash and economic depression if he loses the upcoming election, analysts at Vaneck predict record-high Bitcoin prices in the event of a Trump win. Some experts also suggest that Trump’s stance on cryptocurrency could shift due to the influence of crypto-savvy voters. Despite his previous criticisms, Trump’s success in the NFT realm, with his Trump Digital Collectible Cards generating millions in sales, indicates a possible embrace of crypto if he returns to the White House.
