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Certainly not what you wish to read about the same guy whose policies and actions have turned your portfolio into a graveyard of struggling projects and memecoins. Well, if we overlook the memecoin projects that have ‘Max Extracted’ from the space and milked retail investors to their last penny; the new US President has (for now) been a net negative influence on the digital asset market. Same for stocks, but who cares?
Unending tariff wars, friction with other world leaders, and cutting off international aid programs. I am not American, so maybe it is more agreeable when I say that these events aren’t as negative as they have been portrayed by the mainstream media. Anyways, not to get too deep into it… The 47Th President of the US rallied the crypto bros, and was the incoming messiah of crypto Twitter (Crypto X). Bitcoin Summit, Strategic Bitcoin Reserve, World Liberty Financial, relationship with David Sacks. In so many ways, he earned the ‘Crypto President’ before he even became one (again). Fast-forward to less than two months after his inauguration, the US stock market is down almost 3% on average.
The crypto space? Well, I’m down to numbers I never even imagined a year ago. But here’s the fact, Trump’s Presidency was never expected to be straightforward, and several bystanders are certain to take a hit along the line. And no one would have done it better than he has so far, but that’s if you take away the fact that he launched memecoins for himself and his better half…plus one for Barron if you consider controversially official ones. Donald had already become a meme icon before he ran for his first presidency and even more in the second one, and currently the biggest meme material on the internet… “Everything’s Computer!”
His memecoin launch sparked an unsavory frenzy and passively approved another round of Max Extraction of retail investors. Nevertheless, compared to Javier Millie and a bunch of African nations, whatever happened with Trump’s official memecoins was a pat on the back.
If we overlook this, and even if we don’t; he remains a proper crypto president. There are tons of reasons for this and I might be unable to cover everything in a single rant. Anyway, this is not an attempt to convince anyone; so, hold tight to your personal opinions.
First, a Bitcoin-friendly cabinet. Donald Trump (jnr.) is literally a crypto influencer now and David Sacks is big on Bitcoin. The crypto space loves Barron…probably launched a few memecoins himself. Having pro crypto people in the presidential caucus is evident of how far we have gone with the whole ‘web3’ thing. One chat after the other and WAGMI.
Strategic Bitcoin Reserve; the US acknowledging Bitcoin as an asset to HODL is kind of a big deal, even when those assets were only seized from foul players…you can say the same about the gold bars in Fort Knox. Flashback: Bitcoin was created to challenge the government. Unfortunately, this goal is lost and the US recognizing the asset is a bit of an assurance that it will be around for even longer. Adding projects like XRP, SUI, and ADA to the count kind of ruins the mood, but when you remember that World Liberty Financial has MOVE in its portfolio, you’ll feel better.
Before jumping into the next key point, it will be unfair not to mention that Donald has the vibes of a crypto bro. I mean, he literally said we are going ‘to the moon’…peak crypto bro if you think about it. That’s by the way.
The meeting with the Ukrainian president was overshadowed by memes of JD Vance. While I’ll reserve my opinion on the war and everything about it, the world needs peace and there’s hardly a winner in a war. In his first tenure, international wars were a sparse event. In the last four years, several conflicts have escalated, each one dragging down the crypto space and the stock market. If Donald is on the side of peace-making, then that’s positive for crypto. A peaceful society is economically successful on the average. Funding warring nations is directly fueling a feud. If you agree with that, then strategically controlling the funding is a positive move.
Tariffs? That one too. Tariff wars put dents on the economy, which crypto is now a part of. I’m not a politician and have no strong opinion on if and how retaliatory tariffs are right. However, these tariffs have been a blow to my altcoins, which were already on life support. Maybe they shouldn’t have happened? I don’t know but maybe these ‘tokens’ would still be within recoverable positions if countries weren’t inflating the price of items imported by other countries.
Maybe the Tariff wars will subside, or go in favor of the orange man at the end of the day. The point here is, a strong US economy is positive for the stock market and the crypto space. Trump could be indirectly working for a pump by trying to assert the dominance of the most successful nation on earth. The attempt to ‘verify’ the dedication of other nations to a serene relationship with the US is Based…the blockchain way.
A crypto president? First of its kind, Obama had the stature of a proper crypto President too. In his defense, we haven’t made much noise when he was in charge. He’d have loved Ethereum and Bitcoin Cash, seriously. Another one, Rockefeller would have been a fan of Bitcoin and Litecoin too. Without a doubt, Trump is still a proper crypto president. Well, that’s it! 929 words! Oof!
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