TL; DR – Trump owns a bunch of Bitcoin and because he’s corrupt he’ll pump it.
I’m a believer of Bitcoin. I believe in its central proposition. A currency that can’t be debased because it converts energy into a store of value, that is anarchic and has decentralised control, and thus solves the issues emerging from fiat currency and inflation.
But that’s not why the value will skyrocket from this low, that’s not why I’m still bullish for the next 3 years, at the very least.
You’ve heard of the Debasement Trade, now hear the Corruption Trade.
The real reason Bitcoin will do well in the foreseable future is because of the naked corruption of the current Trump Administration. Whatever else you think of Trump and his politics – take out whatever emotional Trump Derangement / MAGA Cult Leader feelings you have for him and look at it dispassionately – it should be clear that Trump and his family are not above enriching themselves while Trump is in office. We’ve come a long way from Carter and his peanut farm.
And that is why Bitcoin will do well, for that reason and that reason alone. Trump will, as one of the biggest holders through Trump Media, pump the hell out of Bitcoin because it will directly benefit him. I can see the tweet/truth being drafted already amongst this pullback.
Some of you may so ‘no, it’s because this administration is crypto friendly – he believes in it’. With due respect – again, whatever else you think of Trump and his politics – he is clearly not a well-read man who is well-versed in the theory of Bitcoin, even if he has other qualities. I’m confident Trump does not understand Bitcoin beyond the superficial – so he cannot be friendly to it in a true or principled sense because he does not understand it (I would pay good money to hear Trump attempt to explain Bitcoin). You can see this from his Damascene conversion from the famous 2019 tweet.
But he understands wealth, he understands the bully pulpit of the presidency, he will listen to those who are heavily invested in Bitcoin around him (read: his sons, Vance, Musk, other donors & those running his business), and he understands that it will make him wealthier if he increases its value – so he will. As simple as that.
Perhaps you dislike the term ‘Corruption’. I term it that because Trump’s main (if not only) motivation in all of this is for personal benefit – that’s corruption in my book. Personal gain by use of political power.
And I know that many people probably only want the value of Bitcoin to increase to make themselves wealthier – that isn’t corruption. The reason it’s corrupt in Trump’s instance is because most of those people just HODLing don’t have the power to increase its value by putting their thumbs on the scales to do so. Trump does, ergo corruption.
So during the next three years of his presidency I’m confident we will see remarkable gains from this pullback because of this inherent corruption. That’s why I’m bullish on Bitcoin – even after a disappointing ‘Uptober’ and this current dip.
Disclaimer
The information in this post is for general informational and educational purposes only and should not be taken as financial, investment, or trading advice. I am not a financial adviser, and nothing in this article should be interpreted as a recommendation to buy, sell, or hold any financial asset. Cryptocurrency is volatile and involves significant risk. You should always conduct your own research and consider consulting a qualified professional before making financial decisions.
For full transparency, I personally own Bitcoin, and my views may be influenced by that ownership.
Gin Lane 