Mark Cuban Says Bitcoin Is Driving Silicon Valley’s Love for Trump

Cuban, a fan of digital assets like Bitcoin and Dogecoin, predicted that the price of BTC will go "way higher."

2 min read

Jul 17, 2024

Billionaire entrepreneur and Shark Tank investor Mark Cuban has an explanation for why Silicon Valley elites are now backing Donald Trump: Bitcoin.

The Dallas Mavericks owner and crypto fan said on X (aka Twitter) Wednesday that the seemingly sudden increase in funding and support for the ex-president and Republican front-runner for the November elections was a “Bitcoin play.”

Tech bigwigs—most notably Tesla CEO Elon Musk—have recently come out to support Donald Trump. The Wall Street Journal yesterday reported that Musk plans to commit around $45 million a month to back Trump’s campaign.

Crypto entrepreneurs are also backing the former leader’s presidential re-run. Such businessmen have also donated millions of dollars in digital assets like Bitcoin to the cause.

Cuban wrote: “Not because the former President is a far stronger proponent of crypto. That’s 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.”

He added that low taxes and tariffs—both Trump policies—would push the price of the biggest digital coin up further.

“Combine that with global uncertainty as to the geopolitical role of the U.S.A., and the impact on the U.S. Dollar as a reserve currency, and you can’t align the stars any better for a BTC price acceleration,” he continued, adding that the price of Bitcoin could go “way higher than you think.”

Trump previously criticized the Bitcoin space but has recently positioned himself as the crypto-friendly hopeful in the race. He has said he will “defend the right to mine Bitcoin” and later this month will speak at the 2024 Bitcoin Conference in Nashville, Tenn.

Edited by Ryan Ozawa.

Get crypto news straight to your inbox--

sign up for the Decrypt Daily below. (It’s free).

Get Email!

Stanford Researchers Built AI Agents That Accurately Predict Human Behavior

Stanford University researchers have developed AI agents that can predict human behavior with remarkable accuracy. A recent study, led by Dr. Joon Sung Park and his team, demonstrates that a two-hour interview provides enough data for AI to replicate human decision-making patterns with 85% normalized accuracy. Digital clones of a physical person go beyond deepfakes or "low-rank adaptations" known as LoRAs. These accurate representations of personalities could be used to profile users and test th...

Jim Cramer Says Bitcoin Is a ‘Winner’—Investors Would Really Rather He Not

“Mad Money” host Jim Cramer startled Bitcoin investors Friday, panicking swaths of investors on Crypto Twitter after the former crypto skeptic issued a bullish call. Fielding a question from a Florida-based investor during the show’s Lightning Round Thursday, Cramer said that the Bitcoin-buying firm MicroStrategy is a less attractive investment than Bitcoin itself, from his occasionally dubious perspective. “I’ve got to tell you it’s a Bitcoin play—I prefer to actually own Bitcoin,” Cramer said...

Gary Gensler Is Leaving the SEC, But Robinhood Exec Dan Gallagher Doesn't Want the Job

Robinhood Chief Legal Officer Dan Gallagher isn’t interested in serving as the next chairman of the Securities and Exchange Commission (SEC), expressing content with his current role at the popular investing platform. "It is always an honor to have your name in the mix for an incredibly important job like SEC Chairman,” Gallagher told Decrypt in a statement. “However, I have made it clear that I do not wish to be considered for this position.” Gallagher’s statement follows SEC Chair Gary Gensler...

News

Courses

Deep Dives

Coins

Videos