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Crypto Twitter is All Aboard The “Trump Train”... And So is A New BILLION $ Hedge Fund

By Stocks News   |   Nov 1, 2024 at 11:49 AM EST   |   Stock Market News
Crypto Twitter is All Aboard The “Trump Train”... And So is A New BILLION $ Hedge Fund

As the 2024 election countdown reaches its final hours, Donald Trump is making a smart, calculated move to win over crypto voters—and yes, even those friends of ours who swear they're “only in it for the tech” (not the pyramid schemes). 

Trump, who once called Bitcoin a “scam,” is now rallying behind it as if it’s the future of American finance. He’s even promising to make every Bitcoin “made in the USA,” shutting down what he calls Kamala Harris’ “war on crypto.”

It seems like this isn’t just a last-minute idea he scribbled on a napkin. Trump’s got the big players behind him. Strive Asset Management—a $1.7 billion powerhouse backed by his VP pick JD Vance and other big names from Trump’s friendslist—just went all in on Bitcoin, and they’re moving their operations from Ohio to the conservative heartland of Dallas, Texas. The timing couldn’t be better. Bitcoin prices have been flirting with record highs, and Trump’s crypto-friendly stance might just be giving the market that extra juice it needs.

Strive has a reputation for its no-nonsense, “stick it to ESG” attitude. Founded by biotech entrepreneur Vivek Ramaswamy, Strive was designed to push back against socially conscious investing. Their first product, DRLL (a pro-fossil fuel ETF) was made for investors who feel more at home around an oil rig than a solar farm. And now, they’re adding Bitcoin to their lineup, which apparently is the new gold standard for freedom-loving capitalists. Nothing says independence quite like decentralized finance, right?

Strive’s CEO Matt Cole is unapologetically direct: “We’re all about maximizing value for clients—period.” In other words, they’ll give you Bitcoin if it means big returns, leaving social agendas at the door. It’s capitalism, plain and simple (just the way Trump’s base likes it).

And it’s not just Strive feeling the love. The Fear and Greed Index, a tool that measures crypto market sentiment, is off the charts with “extreme greed.” That’s usually a sign that investors are confident—or maybe even a little too eager. But hey, with nearly 90% of crypto futures bets pointing upwards and Election Day looming, there’s an undeniable hype on twitter that Trump’s pro-Bitcoin stance could send crypto soaring to $80,000 or beyond.

Trump’s campaign promises include pardoning Silk Road founder Ross Ulbricht, ensuring all Bitcoin mining happens stateside, and even abolishing capital gains taxes on crypto gains. The crypto community isn’t waiting around either. Influential voices like Michael Saylor are already spreading Trump’s pro-crypto message, and supporters are rallying around his calls for financial independence. 

Trump’s pivot to Bitcoin might have come late in the game, but it’s hitting home. From slashing government interference to making Bitcoin a patriotic symbol, Trump’s crypto vision is catching fire. And while the Fear and Greed Index is telling us a correction could be coming, the excitement around Trump’s crypto policies shows no signs of cooling down.

PS: Our “Wild Friday” alert today SQUEEZED to $3.18 earlier this morning, delivering a 116% move… Our systems are showing another big move might be coming before the market closes. Click here for the details on how to become a Stocks.News Premium Member and ensure you don’t miss out on these kinds of moves multiple times a week.

Stock.News does not have positions in companies mentioned.

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