Following an assassination attempt on former President Donald Trump over the weekend, bitcoin (BTC-USD) prices have surged as markets digest the implications of this act of political violence. Token Bay Capital founder and managing partner Lucy Gazmararian and Gryphon Digital Mining (GRYP) CEO Rob Chang join Morning Brief to analyze the situation.
Gazmararian points out that Trump’s reputation as “a crypto president” predates the recent rally. She notes that bitcoin prices had already been rebounding from lows caused by concerns over potential selling events related to the Mt. Gox repayments and the German government’s transfers.
“I think it’s less to do with President Trump and more… actually the main selling events that the markets were concerned about,” she explains, suggesting the cryptocurrency was already poised for “healthy movement.”
In contrast, Chang expresses a more direct link between Trump and crypto’s prospects: “Of the two major parties, there’s only one presidential candidate who’s planning on speaking at the largest bitcoin conference in the world,” Chang tells Yahoo Finance, referring to Trump. He believes a Trump presidency would be “more pro-cryptocurrency, and bitcoin in particular,” detailing why he views Biden’s policies as less favorable for the crypto industry.
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