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Shark Tank investor and billionaire Mark Cuban says the stars are aligning perfectly for big success. bitcoin (btc) is recovering and there is a chance that the flagship cryptocurrency will become a global reserve currency.
The price of btc has the potential to go “much higher” than many in the market believe, Cuban said in a July 17 statement. x.com/mcuban/status/1813595448151531784″>thread“Remember, the btc market is global,” he wrote, before adding that “supply has a final cap of 21 million btc, with unlimited fractionalization.”
<img decoding="async" alt="bitcoin Stock Photos, Royalty Free bitcoin Images | Stock Photos” src=”https://st3.depositphotos.com/15237386/33975/i/450/depositphotos_339750616-stock-photo-gold-bitcoin–crypto-currency-on.jpg”/><img decoding="async" src="https://st3.depositphotos.com/15237386/33975/i/450/depositphotos_339750616-stock-photo-gold-bitcoin–crypto-currency-on.jpg” alt=”bitcoin Stock Photos, Royalty Free bitcoin Images | Stock Photos”/>
Silicon Valley's support for Donald Trump is a “bitcoin play”
Cuban also tthat the “surge of Silicon Valley support” for former President Donald Trump is a “bitcoin play.”
He added that the support for Trump is not necessarily because he appears to be a pro-crypto candidate. Instead, he believes it is because Trump's election will make it “easier to operate a cryptocurrency business,” because it will inevitably lead to a much-needed reshuffle of the U.S. Securities and Exchange Commission's (SEC) senior staff.
In terms of btc price, lower tax and tariff rates could trigger a bullish rally, Cuban The potential for such a “price acceleration” is heightened by global uncertainty over the geopolitical role of the United States and the weakening of the dollar as a reserve currency, Cuban said.
Mark Cuban says bitcoin could become a global financial “safe haven”
bitcoin could end up becoming a global “safe haven” if the dollar’s role as a reserve currency continues to fade, the Shark Tank investor said.
People around the world could later turn to btc as a means to “protect” their savings, he continued. The possibility of btc becoming a “global currency” is “something above zero,” Cuban added.
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Part 1
Below is a contrarian view on the rise of Silicon Valley support for former President Trump. Like all of my opinions here, it is probably not popular.
It's a bitcoin play.
Not because the former president is a much stronger advocate of cryptocurrencies. That's fine…
—Mark Cuban (@mcuban) twitter.com/mcuban/status/1813591281970348264?ref_src=twsrc%5Etfw”>July 17, 2024
To prove that the idea of btc becoming the new global reserve currency isn't so far-fetched, Cuban said that people in countries with hyperinflation have already turned to bitcoin to preserve their capital.
An example is Argentina, which has an annual inflation rate of 276%. This has caused citizens to seek refuge in digital currencies.
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