Trump Election Win May be Bullish For Cryptocurrency Markets, Bernstein Says

Linh Nguyen — Tue, 13 Aug 2024 15:41:41 +0000

@ Crypto Insider

Market sentiment suggests that a Trump election victory would be bullish for crypto and a Harris win would be bearish, the report said.

Market sentiment suggests that Donald Trump winning the U.S. elections in November would be bullish for crypto markets and a Kamala Harris victory would be bearish, Wall Street broker Bernstein said in a research report on Monday.

The broker noted that bitcoin has weakened following the shift in Polymarket odds and polls in Harris’ favor, and it expects the world’s largest cryptocurrency to “remain rangebound until there is a clearer election signal.”

Polymarket is a prediction market that allows people to bet on the outcome of future events.

Republican supporters have called this the “initial honeymoon phase” and have argued that Polymarket odds are subject to manipulation, the report said.

Bernstein notes that Trump’s side has been quite vocal about its crypto policy and has engaged with companies in the sector, bitcoin (BTC) miners and the wider community.

“The Trump-led Republican side has made a strong pitch to crypto voters by promising favourable policy for bitcoin and crypto innovation, even teasing a potential national bitcoin reserve,” analysts led by Gautam Chhugani wrote.

Former President Trump promised to maintain a strategic national bitcoin reserve and said he would never sell the government’s seized bitcoin, if elected again, in a speech last month at the Bitcoin Conference in Nashville.

The post Trump Election Win May be Bullish For Cryptocurrency Markets, Bernstein Says appeared first on Crypto Insider.

Donald Trump Site Lists Limited-Edition ‘Bitcoin Sneakers’ for as Much as $500 a Pair

Linh Nguyen — Thu, 01 Aug 2024 10:15:35 +0000

@ Crypto Insider

The most expensive bright orange, high-top sneakers are already sold out and being relisted on eBay for as high as $2,500.

U.S. presidential candidate Donald Trump made his support for bitcoin (BTC) clear when he addressed more than 3,000 Bitcoin Conference attendees on Saturday. Now he’s selling shoes to reiterate the message.

Trump Sneakers, a Trump-owned website that sells themed footwear and perfumes, earlier this week started listing a range of limited edition sneakers including a Bitcoin-themed, high-top version that costs $499 a pair on pre-order. There are just 1,000 pairs of the bright orange version, and they’ve already sold out.

“These exclusive sneakers celebrate the future of finance and the leadership of President Trump, boldly emblazoned with a prominent Bitcoin symbol,” a descriptor for the product reads. “Perfect for crypto enthusiasts and Trump supporters alike, these limited-edition shoes are a must-have.”

Another 1,000 pairs of low-top sneakers in bright orange and 1,000 in black are listed for $299. Orange is a color associated with support for the world’s largest cryptocurrency by market cap. High-tops and low-tops describe where the shoes reach on the wearer’s ankle.

The high-top, bright orange range had sold out by Thursday morning. Some pre-order purchases are already being advertised on eBay for as high as $2,500.

The Trump Sneakers website is owned by CIC Ventures LLC, a company that Trump declared fully owned on his 2023 financial disclosure. The site mentions it has nothing to do with Trump’s political campaign and says the sneakers are not designed, sold or manufactured by Trump or related associates.

The Bitcoin sneaker went live on the site shortly after Trump’s speech at the conference in Nashville. In it, he promised to fire SEC head Gary Gensler and create a strategic bitcoin reserve if elected. He said he would be a “pro-Bitcoin” president and not allow any of the 213,239 BTC seized by authorities and held in U.S. government wallets to be sold.

The post Donald Trump Site Lists Limited-Edition ‘Bitcoin Sneakers’ for as Much as $500 a Pair appeared first on Crypto Insider.

Donald Trump Archives - Crypto Insider

Trump Election Win May be Bullish For Cryptocurrency Markets, Bernstein Says

Market sentiment suggests that a Trump election victory would be bullish for crypto and a Harris win would be bearish, the report said.

Donald Trump Site Lists Limited-Edition ‘Bitcoin Sneakers’ for as Much as $500 a Pair

The most expensive bright orange, high-top sneakers are already sold out and being relisted on eBay for as high as $2,500.