Mark Cuban: Silicon Valley Support For Trump Impacts Bitcoin

Mark Cuban, investor and owner of NBA basketball club Dallas Mavericks. (Photo; Doc. Bitcoin News)

JAKARTA - Investor and billionaire Mark Cuban recently shocked the crypto community with a statement linking Silicon Valley's support for former US President Donald Trump with the Bitcoin (BTC) price movement.

In his post on platform X on Wednesday 17 July, Cuban expressed his controversial views: that support for Trump is actually part of the Bitcoin strategy.

Cuban, known as the founder of Broadcast.com and owner of the NBA's Dallas Mavericks basketball team, is not a foreign figure in the crypto world. However, his statement this time caught the attention of many people for linking politics to crypto markets that are often considered independent.

Cuban explained that although Trump is not a strong crypto supporter, lower tax and tariff policies during his administration could affect the price of Bitcoin.

This is a Bitcoin game, Cuban wrote. Not because the former President is very supportive of crypto. That's good, but it doesn't really affect crypto prices. Lower tax and tariff policies will facilitate crypto business operations because of inevitable and necessary changes in the SEC (Securities and Exchange Commission).

In Cuban's view, this policy change could accelerate the adoption of Bitcoin and other cryptocurrencies. While Trump himself does not actively promote crypto, the impact of a more friendly economic policy on the industry could create an environment that supports growth.

In addition, Cuban highlighted geopolitical uncertainty that affects the role of the US Dollar as a world reserve currency. If history becomes a guide, this instability could lead to inflation. Combining with global uncertainty about the role of US geopoliticals, stars are already aligned for the acceleration of Bitcoin prices.

Cuban also underlined the global nature of the Bitcoin market and the limited number of Bitcoins is only 21 million. In a geopolitical uncertainty situation, many people seek shelter. Several countries that face hyperinflation have seen their citizens turn to crypto as an alternative.

Although Cuban did not predict certain results, he acknowledged there is a possibility that Bitcoin could develop into a global currency, according to the vision of its supporters.

This controversial statement came after Cuban attended a crypto policy discussion with a member of the Democratic Congress, Ro totaled, representing the Silicon Valley district in California. The presence of an official from the Biden administration also adds to the significance of the event.

With his statement, Cuban opened a new discussion about the relationship between government policies, political support, and the future of cryptocurrencies. Despite the various predictions, it is clear that these developments will continue to be in the spotlight for industry players and the wider community.