- Mark Cuban comments on tech leaders’ support for Trump, viewing it as a strategy to benefit from anticipated SEC changes favourable to crypto.
- Cuban suggests Trump’s economic measures like lower taxes and higher tariffs could push investors towards Bitcoin as a hedge against inflation.
- He predicts Bitcoin could become a global safe haven, especially in scenarios of US dollar decline and widespread geopolitical unrest.
Billionaire businessman and investor Mark Cuban is not a fan of Donald Trump. He has said on the record that he’d “rather vote for Joe Biden even if he was given his last rites”.
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In a recent post, Cuban now draws attention to venture capitalists and tech figures and their support of the former president. Posting to his almost 9 million followers, he said their support is a “bitcoin play”.
Cuban said the support isn’t really about crypto itself but rather about changes to the Securities and Exchange Commission (SEC) – which will benefit crypto businesses. He stated that Trump’s support was nice but “doesn’t really impact the price of crypto”.
It makes it easier to operate a crypto business because of the inevitable, and required, changes at the SEC.
Mark CubanHe added that a Trump presidency could accelerate BTC prices not due to relaxed crypto regulations but because of Trump’s economic policies. He argues that lower taxes and higher tariffs will worsen inflation, driving investors to secure assets like gold and the US dollar and potentially increasing interest in Bitcoin as a safe haven.
BTC Could Become Global “Safe Haven” Asset
But what does he say about BTC price, you may ask. Cuban believes that most are underestimating where it could end up.
How high can the price go. Way higher than you think. Remember, the market for BTC is global. And the supply has a final limit of 21m BTC, with unlimited fractionalization.
Mark CubanBut, according to the billionaire, BTC may reach a status far more significant than just a high-priced store of value.
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Cuban said a decline of the US dollar as a reserve currency and global geopolitical turmoil could make Bitcoin very valuable – therefore becoming an asset many nation-states and individuals may turn to.
BTC could be what countries and all of us look to buy as a means to protect our savings. Crazy? It already happens in countries facing hyperinflation.
Mark CubanIf things go downhill even more, much more so than what we can expect today, he says Bitcoin maxis’ vision becomes a reality: that of “a global currency”.
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