As a seasoned researcher with a background in finance and economics, I have closely followed the developments in the cryptocurrency market for several years. The recent news that former U.S. President Donald Trump is set to speak at the Bitcoin Nashville conference has piqued my interest, as it could potentially signal a shift in regulatory attitude towards crypto assets.
Expert: With the upcoming speaking engagement at the Bitcoin Nashville conference by ex-US President Donald Trump on July 27th, financial analysts from Bernstein are keeping a close eye on seven specific crypto-related stocks in the market. They caution that the potential impact of another Trump presidency hasn’t been fully reflected yet in stock prices.
A research firm recently expressed optimism towards the cryptocurrency industry in a recent communication, highlighting the substantial expansion prospects for certain businesses due to a more favorable regulatory landscape, as initially covered by Decrypt.
Under the leadership of Gautam Chhugani, the Bernstein team posits that the stock market hasn’t fully integrated the potential positive regulatory changes that may ensue if Trump gets re-elected in November.
Institutional investors are expected to significantly increase their investments in crypto and associated stocks should Trump secure the presidency once again. Trump’s recent pro-crypto sentiments, expressed through his Truth Social platform, have fueled this anticipation.
Previously, Trump’s campaign introduced a fundraising site where supporters could make cryptocurrency contributions using Coinbase Commerce. This marks a pioneering move for a significant party nominee to receive crypto donations.
Ex-US President named Ohio Senator JD Vance, a crypto-savvy ex-venture capitalist with a Bitcoin stash worth between $100,000 and $250,000 on Coinbase, as his running mate.
According to Per Bernstein, several cryptocurrency firms, such as Riott Platform and CleanSpark, could potentially gain advantage if Trump gets re-elected. Riott Platform manages $600 million in Bitcoin and has secured $500 million for constructing a 1-gigawatt data center in Texas. CleanSpark, on the other hand, has significantly increased its computing power from 10 exahashes per second (EH/s) to 20.4 EH/s in this year.
Analysts on the team estimated that Robinhood, the commission-free trading platform, had the potential to more than double its revenue in the next two years. Approximately 70% of this growth could be attributed to cryptocurrency transaction fees. Notably, Robinhood had recently purchased Bitstamp for $200 million.
Another company, MicroStrategy, with a holding of 226,331 Bitcoins valued at more than $14.5 billion, was identified as another potential beneficiary due to the increasing trend towards cryptocurrency usage.
Robert Kiyosaki, renowned author of the “Rich Dad Poor Dad” personal finance book series, has recently expressed his belief that Bitcoin’s price will increase significantly if Donald Trump gets re-elected as President. Alongside gold and silver, he considers Bitcoin as a valuable investment during Trump’s presidency.
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2024-07-25 23:45