Trump Election Surge Fuels Speculation Of Musk In His Cabinet – Good News For Crypto?

bitcoinistPublicado a 2024-09-06Actualizado a 2024-09-06

Resumen

The increasing odds of Donald Trump nominating Elon Musk for a cabinet position have resulted in a discussion of the...

The increasing odds of Donald Trump nominating Elon Musk for a cabinet position have resulted in a discussion of the potential implications on the cryptocurrency market.

Related Reading: Satoshi Nakamoto Tells NBA Legend In His Dream: Bitcoin To Slam Dunk To $84K!

According to Polymarket, as of September 5, 2024, there is a 21% likelihood of that occurring, which is significantly higher than the 13% seen just one day earlier.

This speculation has come off the back of reports stating that Trump is considering Musk to run a government efficiency commission.

Musk’s involvement in the Trump administration raises one all-important question: How would that change crypto regulation and its institutional adoption?

Source: Polymarket

Trump And Musk: Crypto-Friendly Future?

Musk’s would-be appointment is likely to be a game-changer for the cryptocurrency market. As a strong crypto bull, he has all the levers to influence more friendly regulations.

Joining the Trump cabinet, Musk would be most likely able to craft policies that would advance innovation and institutional adoption of cryptocurrencies.

This will result in a friendlier environment for companies engaging in crypto businesses, which means it would attract more and more companies into incorporating digital currencies into their operations.

Furthermore, Musk’s focus on renewable energy would boost efforts for sustainable practices in crypto mining. Drawing from his previous work with Tesla and SpaceX, Musk might support regulations that create some incentives for renewable energy sources in mining processes.

This would flip the page on crypto’s environmental impact and also go a long way toward its acceptance by the public, thus making it more palatable to mainstream investors and institutions.

Market Reactions And Speculation

Markets have responded somewhat coolly to the announcements. Since the reports surfaced, tokens connected to Trump and Musk have gone in different directions.

The MAGA Hat token jumped 2.4%; the Elon token leapt 9.5%. By comparison, MAGA, the biggest token with Trump themes, has dropped over 16% during the week. Furthermore rising by more than 4.5% is Tesla’s shares.

Total crypto market cap currently at $1.9 trillion. Chart: TradingView

In the larger cryptocurrency market, Bitcoin still falls below $57,000; Ethereum is down at $2,400. If anything, over time the performance of cryptocurrencies has shown fortitude against political fortunes.

Bear in mind how Bitcoin reached record highs during both the Obama and Trump regimes. While this means political environments can most definitely impact cryptocurrency market sentiment, they are not sole value drivers.

Related Reading: Russian Industrial Players Quietly Mine $3 Billion In Bitcoin—What’s Next?

The Bigger Picture

The stakes are huge for either Trump or Musk as the election draws near. The Trump campaign has been actively courting the crypto community, promising to make the US “the crypto capital of the world”--a utopian ideal that resonates deeply in that demographic, however much the vision remains in vague outline.

While some have been salivating for even the prospect of specific policy proposals, many questions remain unanswered in light of Trump’s recent failure to deliver on a promised crypto initiative.

The excitement generated by Musk’s possible cabinet role may rejuvenate the interest in Trump’s crypto plans, but if and when these materialize into actual concrete actions, nobody can tell.

In other words, Musk could be a pro-crypto appointment that will introduce crypto-friendly regulation and stir a fever of innovation and institutional adoption.

Featured image from Pexels, chart from TradingView

Christian Encila

Christian Encila

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Related Posts

crypto

‘Anti-American’ Crypto Crackdown: Former Presidential Candidate Slams US Regulators

8 hours ago
Bitcoin

Russian Industrial Players Quietly Mine $3 Billion In Bitcoin—What’s Next?

14 hours ago
Crypto

Kamala Harris Adopts Crypto: Coinbase Donations Now Accepted By VP’s Campaign

19 hours ago
Crypto

Crypto Market Likely To Experience Frustration In The Coming Weeks, Expert Warns

20 hours ago
crypto scam, north korea hack, ETH, DeFi

$105 Million Crypto Save: DeFi Protocol Pendle Prevents Further Losses From Penpie’s Exploit

1 day ago
Crypto Market Sees $3.65 Billion Liquidity Injection, But Where’s the Buying Pressure?

Crypto Market Sees $3.65 Billion Liquidity Injection, But Where’s the Buying Pressure?

1 day ago

Lecturas Relacionadas

Xiaomi MiMo's 99% Price Cut is Not Marketing! Luo Fuli Posts on X to Refute Critics

The price of Xiaomi's MiMo-V2.5 series API has been permanently reduced by up to 99%, specifically for the "Input (Cache Hit)" cost, which covers users re-reading historical context in long conversations. MiMo's head, Luo Fuli, published a detailed technical blog to clarify that this drastic price cut stems from genuine engineering breakthroughs, not a marketing stunt or a simple price war. The core of the achievement lies in six key engineering optimizations. First, the model architecture adopts a Hybrid Sliding Window Attention (SWA), reducing the memory footprint (KVCache) to 1/7th of a traditional model. Second, a dual-pool memory management system actually utilizes these savings, allowing a single GPU to handle over 5 times more concurrent users. Third, an upgraded prefix caching mechanism achieves a cache hit rate of 93-95% for repeated reads, meaning most such requests bypass GPU computation entirely. Fourth, a self-developed distributed cache (GCache) utilizes idle SSD space on existing GPU servers, eliminating additional storage costs. Fifth, an intelligent scheduling system (LLM-Router) efficiently routes requests to maximize cache reuse and performance. Sixth, Multi-Token Prediction (MTP) accelerates the model's text generation ("output") side. Together, these systemic optimizations dramatically lower the real computational cost per request, enabling the 99% price reduction for cached inputs while reportedly maintaining positive gross margins. Luo Fuli's disclosure aims to shift the narrative from "price war" to a demonstration of substantive AI engineering progress.

marsbitHace 1 hora(s)

Xiaomi MiMo's 99% Price Cut is Not Marketing! Luo Fuli Posts on X to Refute Critics

marsbitHace 1 hora(s)

$26 Billion: An 'All-Chinese Team' Backs the World's Highest-Valued AI Programming Company

Cognition AI, the company behind the AI programmer "Devin," has raised over $1 billion in new funding at a valuation of $26 billion, just eight months after reaching a $10.2 billion valuation. The round was led by Lux Capital, General Catalyst, and 8VC. Founded by three young Chinese entrepreneurs with strong competitive programming backgrounds, Cognition initially gained fame with Devin, marketed as the world's first AI software engineer capable of handling tasks from start to finish. While its early demos were impressive, real-world usage revealed reliability and cost-effectiveness issues, leading to a significant price cut for Devin in 2025. A pivotal moment came when Cognition acquired the assets of AI IDE company Windsurf after a failed acquisition by OpenAI. This move gave Cognition a crucial developer-facing tool, allowing it to pursue a two-pronged strategy: Devin for autonomous task execution and Windsurf for integrated, collaborative coding within an IDE. This shift helped the company move away from the controversial "AI replacement" narrative towards a model of augmenting human engineers, particularly for repetitive or maintenance tasks. This strategic pivot is backed by strong commercial metrics. The company reports a 10x increase in enterprise usage this year, with an annual revenue run-rate of $492 million and a 50% month-over-month growth in enterprise Devin usage over the past six months. Its client list now includes major corporations like Goldman Sachs and Mercedes-Benz, as well as government agencies like NASA and the U.S. Army. Investors are betting on Cognition becoming a foundational piece of next-generation software engineering infrastructure, positioning it at the center of a hybrid future where AI agents and human developers work in tandem.

marsbitHace 1 hora(s)

$26 Billion: An 'All-Chinese Team' Backs the World's Highest-Valued AI Programming Company

marsbitHace 1 hora(s)

The Hottest 00s Generation on Wall Street

"Wall Street's Hottest '00s Phenom: The 25-Year-Old Fund Manager Who Bet on AI's 'Boring' Backbone" At just 25, Leopold Aschenbrenner, once fired by OpenAI, now runs a hedge fund worth $13.7 billion. His strategy? Betting against the consensus. While others chased AI chips, he invested early in the physical infrastructure powering the AI boom: electricity, data centers, and energy. Expelled from OpenAI's safety team in 2024, Aschenbrenner foresaw the coming bottleneck. He argued that AI progress would be limited not by algorithms, but by power, chip capacity, and space. Acting on this, he founded Situational Awareness LP to go long on these "old economy" assets. His bets have paid off spectacularly. His fund's assets soared from $255 million in late 2024 to $13.7 billion by Q1 2026. His portfolio is a direct reflection of his thesis: major long positions in fuel cell company Bloom Energy and data center/bitcoin mining firms like CleanSpark and Riot Platforms, which control critical land and power resources. Conversely, he holds massive put options against overheated semiconductor giants like NVIDIA and AMD. A notable exception was his bullish bet on storage company SanDisk, which surged ~160% in Q2. Aschenbrenner's vision is materializing. Tech giants like Amazon, Alphabet, and Meta are ramping up colossal capital expenditure on data centers. Global data center power consumption is projected to skyrocket, with AI accounting for over half by 2030. The demand for enabling technologies like optical fiber and modules is also exploding. His story underscores a fundamental truth of the AI era: the ethereal intelligence of algorithms rests on a very physical, heavy, and power-hungry foundation. The future is being built not just in code, but in concrete, copper, and kilowatts.

marsbitHace 4 hora(s)

The Hottest 00s Generation on Wall Street

marsbitHace 4 hora(s)

Review of Cathie Wood's Masterstroke Operation on Circle

A Recap of Cathie Wood's Masterful Trading in Circle's IPO This article analyzes the strategic moves made by ARK Invest's Cathie Wood around the IPO of Circle (CRCL). Despite her typical long-term, narrative-driven investment style, Wood executed a textbook "buy low, sell high" trade. Wood secured a core position of approximately 4.49 million shares at the $31 IPO price. The stock debuted at $69, surged to a high of $299 in June 2025 fueled by stablecoin regulatory news (the GENIUS Act), and then entered a prolonged decline. During this rally, ARK systematically sold around 1.7 million shares at an average price near $210, driven partly by internal fund rebalancing rules triggered by the stock's soaring weight. This move locked in substantial profits. As the stock later fell due to lockup expirations, new share issuance, and interest rate concerns—even dipping below $50—Wood began repurchasing shares. Starting in November 2025 around $86, she continued buying on the way down, eventually rebuilding her position to roughly the original size by Q1 2026. Key takeaways include: 1) Having a strong, independent long-term thesis (viewing Circle as critical digital dollar infrastructure). 2) Trading in tranches instead of trying to time exact tops or bottoms. 3) Maintaining strict position-sizing discipline, using rules to force profit-taking and preserve buying power. For most retail investors, chasing the dramatic "pop" at open is dangerous, as the subsequent 83% drawdown showed. Wood's success hinged on pre-IPO access, a clear investment thesis, and disciplined execution.

marsbitHace 5 hora(s)

Review of Cathie Wood's Masterstroke Operation on Circle

marsbitHace 5 hora(s)

Sharplink CEO: Ethereum's Future is Unfolding Now

In an article titled "Sharplink CEO: Ethereum's Future is Unfolding," Joseph Chalom, a former BlackRock executive and current Sharplink CEO, argues that the current debates surrounding the Ethereum Foundation (EF) and ETH price miss the bigger picture. He asserts that Ethereum's long-term institutional adoption is secured by its foundational strengths: trust, security, and liquidity. Chalom highlights Ethereum's dominance in settling stablecoin value, tokenizing real-world assets (RWA), and facilitating high-value DeFi transactions as evidence of its winning position. He defends the Ethereum Foundation's focus on rigorous protocol development and a decade-long track record of major upgrades (The Merge, EIP-1559, Dencun, etc.), viewing its upcoming technical roadmap as the most ambitious in the industry. Contrary to critics, Chalom posits that Ethereum's decentralization and reliable neutrality are core strengths for institutional adoption, not weaknesses, as they prevent control by any single entity. Drawing a parallel to Amazon's early days, he suggests that ETH's intrinsic value is tied to the expansion of its network, which is poised for a step-change in transaction volume across stablecoins, RWAs, DeFi, and agentic finance. Chalom advocates for a "be greedy when others are fearful" approach, citing historical examples from Warren Buffett and his own experience at BlackRock during the crypto winter. He concludes that while the EF should remain focused on core protocol attributes (CROPS: Censorship Resistance, Capture Resistance, Open Source, Privacy, Security), there is a leadership gap in market outreach. Chalom calls for ecosystem participants, including Sharplink and other key players, to become more vocal advocates to support the coming institutional adoption supercycle, asserting that "Ethereum's future is unfolding now."

marsbitHace 5 hora(s)

Sharplink CEO: Ethereum's Future is Unfolding Now

marsbitHace 5 hora(s)

Trading

Spot
Futuros
活动图片