Mark Cuban says Silicon Valley’s embrace of Trump is all about crypto

Venture capitalists and other Silicon Valley figures have embraced Donald Trump’s bid to reclaim the U.S. presidency. But what’s their rationale? Billionaire Mark Cuban says it’s cryptocurrencies.

“It’s a Bitcoin game,” Cuban wrote on X on Wednesday. He added that Trump as president “makes it easier to run a crypto business because of the inevitable and needed changes” to the U.S. Securities and Exchange Commission.

The crypto industry has been highly critical of the SEC for making it difficult to regulate digital asset businesses in the United States (Cuban is no stranger to criticizing the SEC, the markets regulator he deals with). once you fight (After allegations of insider trading. He won.)

Under Trump, who appears to be ahead of President Joe Biden, the stage is set for inflation and uncertainty about the U.S. role in geopolitics, Cuban said. “You couldn’t align the stars better for Bitcoin to accelerate,” he wrote.

“How high can the price go? Much higher than you think. Remember, the Bitcoin market is global. The supply has a final limit of 21 million Bitcoin, with unlimited hashrate,” Cuban added.

This week was Reported Venture capitalists Marc Andreessen and Ben Horowitz are planning to donate money to Trump’s campaign. Their firm, Andreessen Horowitz, has a cryptocurrency arm.

Coinbase, the cryptocurrency exchange based in San Francisco, Silicon Valley, formed Fairshake, a political action committee that supported pro-crypto candidates and tried to defeat anti-crypto candidates. It is one of the largest political action committees in this election cycle.

Trump’s running mate, Senator J.D. Vance, has ties to Silicon Valley.

“If things really go further than we can imagine today (and I’m not saying that. Just that the probability is higher than zero), Bitcoin will become exactly what Maxis envisions,” Cuban wrote Wednesday. “A global currency.”