Mark Cuban says that tech billionaires supporting Donald Trump's 2024 presidential bid see it as a "Bitcoin play" rather than strong crypto policies. Lower taxes, tariffs, and geopolitical uncertainty under Trump could be inflationary and increase Bitcoin prices. Cuban argues that a Trump presidency could hurt the US dollar's status as the world's main reserve currency. Other factors, like global political instability, could push Bitcoin to become a safe-haven asset. Trump has shifted his stance on cryptocurrencies from dismissing them in 2019 to saying the US needs to embrace crypto to avoid losing out to China. Bitcoin rallied after a failed assassination attempt on Trump over the weekend.
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00:00It's Benzinga, and here's what's on the block.
00:03Mark Cuban says that tech billionaires supporting Donald Trump's 2024 presidential bid see
00:07it as a Bitcoin play rather than strong crypto policies.
00:11Lower taxes, tariffs, and geopolitical uncertainty under Trump could be inflationary and drive
00:15Bitcoin prices up.
00:17Cuban argues that a Trump presidency could hurt the U.S. dollar status as the world's
00:21main reserve currency.
00:22Other factors like global political instability could push Bitcoin to become a safe haven
00:27asset.
00:28Trump has shifted his stance on cryptocurrencies from dismissing them in 2019 to saying the
00:32U.S. needs to embrace crypto to avoid losing out to China.
00:36Bitcoin rallied after a failed assassination attempt on Trump over the weekend.
00:40For all things money, visit Benzinga.com.