In a recent post on X, billionaire Mark Cuban suggested that Silicon Valley’s backing of Donald Trump’s presidential bid is heavily influenced by the potential benefits to the cryptocurrency industry. According to Cuban, Trump’s return to the presidency would likely lead to favorable changes at the U.S. Securities and Exchange Commission (SEC), making it easier to run a crypto business.
Cuban, who has had his own battles with the SEC over insider trading allegations in the past, believes that Trump’s leadership would accelerate the rise of Bitcoin (BTC). He argues that the combination of Trump’s policies, which could increase inflation and geopolitical uncertainty, and Bitcoin’s capped supply of 21 million coins, creates an ideal scenario for BTC price growth.
Highlighting the global market for Bitcoin, Cuban emphasized that the limited supply and ability to fractionalize the currency make it a strong candidate for significant price increases. He stated, “How high can the price go? Way higher than you think.”
The news comes amid reports that prominent venture capitalists Marc Andreessen and Ben Horowitz are planning to financially support Trump’s campaign. Their firm, Andreessen Horowitz, has a dedicated crypto investment arm.
Additionally, Coinbase, a major crypto exchange based in San Francisco, has formed the Fairshake political action committee. This PAC is actively supporting pro-crypto candidates and opposing those against the industry, becoming one of the largest contributors in this election cycle. Notably, Trump’s vice-presidential pick, Senator J.D. Vance, also has strong ties to Silicon Valley.
Cuban speculated that if the situation evolves further than currently anticipated, Bitcoin could realize its potential as envisioned by its most ardent supporters—a global currency.
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