Topic: Winklevoss "Gemini" twins donate $2m to support Trump (Read 1325 times)

Seeing Mr. Trump selling his own line of sneakers, a customized Bible, and even his own NFTs, tells me he's desperate for money. Either Trump lost his fortune, or he's hoarding money out of greed. This $2m donation in BTC by the Winklevoss twins is a hefty sum of money. But now it's worth sightly less in USD terms. That's assuming Trump didn't sell the BTC immediately for USD. Gemini is betting big on Trump to win back the White House. But what if Trump loses his re-election bid? Then all would be nothing but lost. Things will get interesting during Election Day.

I can't imagine what the fate of the crypto industry in America will be after either one of the candidates (Biden or Trump) becomes the next President of the United States. I didn't mention RFK Jr. because he doesn't a large number of followers behind him. The odds of him losing are big. We can't predict the future, so lets hope for the best.

I'd say that a couple of years ago he was not in this so bad shape (too old, still not this bad).
And, as I've seen written somewhere (sorry, I don't remember where so I could quote), this year the Americans have to choose between a jester and a corpse. I'm not sure which is worse. And Trump is old too.

I'd add that last time it was between two very old men, off which one was already proven himself (and not really in a good way) as POTUS.

Bitcoin was overbought, we reached 72K from 15K, there has been steady growth since 2022 and this is the first time in recent history that we reached ATH before halving. Is it a crash? Hard to say, maybe it's a crash but it was unavoidable and I think very normal after such steady growth but it will go to the moon in winter.

Every politician is a criminal but my question is, why did the USA let Biden be a president? This man is a walking dead. My other question would be, in the USA, with a population of 333.3 million people, wasn't there really a better candidate? Also, Trump is 78 years old and Biden is 81, they might die of a heart attack today or tomorrow, were they really unable to find someone younger and more open-minded and sane?

There is always a personal interest behind political donations and that is how politics works. Donors will benefit if their candidate is elected, while candidates need to donate not only to spend on election campaigns but also to show that many voters are supporting them. That's why the two sides always publicize the donation amount every time they receive a donation, it's a way for them to tell the public that they are receiving more support.

Currently, according to some surveys, the support rate of both is not too different and Biden did not lose too many voters after a disappointing debate performance. Furthermore, the recent debate is not a measure to determine who will be president, so it is still very early to say that Trump will win even though he has a slight advantage over Biden.


https://www.reuters.com/world/us/biden-democratic-allies-raise-264-million-second-quarter-2024-07-02/


By the way, Mr. Trump just attracted more attention when he sparked discussion about turning bitcoin into a strategic reserve asset. If he is elected and this comes true, how much will bitcoin cost in the next bull season? 


https://www.forbes.com/sites/digital-assets/2024/07/03/trump-sparks-talks-of-bitcoin-as-a-strategic-reserve-asset/

He was wealthy.  Not fully convinced he still is.  After all his failed business ventures and now that many of his assets are revealed to be not the value he purported them to be, plus the cost of constant litigation and legal fees, I'd say he's now considerably less wealthy.  

Probably why he's asking for donations in Bitcoin from gullible chumps, like some of the people in this topic, and opportunistic sleazebags like the twins.

Of course. Trump doesn't need the money. He is already wealthy. This is just a strategic move from the Winklevoss twins. Maybe it's to look out for Gemini exchange's best interests after he's re-elected President of the United States? Who knows?

With the $2m alone, Trump would have plenty of resources to guide his political campaign all the way to victory. Biden doesn't stand a chance. Democrats need a better candidate that would be considered worthy of challenging Mr. Trump. But for some reason, Joe Biden doesn't want to step back from the race (even when the recent political debate was disastrous). The crypto industry (and possibly, the oil industry) is with Trump. Not Biden. We're just a few months away from Election Day, so anything can happen. 

While politics are sensitive and things aren't as easy as it looks and can't be explained 100% on one side or the other. Republican candidate getting donations from rich folk isn't a new thing neither though, it's quite normal and ordinary at this point. I get that we are going to see Biden getting money from billionaires too because we are seeing just two candidates and when you have only two, and people ignore "donations" that means people can vote for both sides at the same time.

We need to consider the fact that we are going to end up with a greater return without a doubt. For the first time in the history, people are actually caring about who donates to who, and that means people care if presidents will owe anything to anyone and rule based on that. So this is important info.

Bitcoin is particularly hard to predict these days, unlike before.

I'm mostly looking at interest rates, with them being high less capital comes toward bitcoin. I also think as long as there is uncertainty in the economy as a whole, it is hard to see an actual bull run in bitcoin.
There is also the global tensions which leads people to buy the less risky assets like Gold and liquidate riskier ones like bitcoin.

But apart from the negative, we also had the halving this year and the supply cut (sell pressure) by 50% has to show up slowly and help with the rise.
So I could see some decent rises this year, maybe even crossing $70k before the year ends.

Just to be clear, Trump absolutely is a criminal. He has been found guilty by a jury of his peers. There is no debate over whether he is a criminal or not.

And yes, the US constitution has certain bugs in it, and this is one of them.

As for why the Republicans want a criminal for president, I guess there are a lot of reasons, but the analysis I've seen said that many Republican voters know that what they want isn't actually very popular (e.g. making abortion illegal), so they know they need a criminal in order to make their policy goals happen. In other words, many Republicans are voting for a "strongman" who will override democracy in order to get them what they want. Hence Trump's criminality is a feature, not a bug.

Bitcoin in fact increased 500% under president Biden. That's just math.

And the US president absolutely could, with a mere gesture, send the price of Bitcoin down 95%. Imagine if Trump decided that Bitcoin should be replaced with his own personal crypto that he says is "better" somehow, and he said that Bitcoin should be outlawed because it is "bad". You would instantly lose all US investors if that happened, and the rest of the world would panic and sell off their holdings because the US could use it's power to sanction other countries as well.

Yes, Bitcoin would still technically "exist" like it did in 2010, but the audience for it would go from millions to a few hundred.

Yes, indeed, the point that you have raised is a very fair one. The term, ‘Correction’ is also quite relative and often determining the magnitude is not always an easy task. Here there is no such expectations regarding certain percentage, though, there is a general opinion that correction is made when the price drops to between 10/20 % of the new high. To them, anything below 20% they may perceive it just as something more severe like a manipulation in the market or a crash.

Therefore, you were right by defining the decrease from $72k to $60k as a correction when $60k was a solid support level. Hence, further decreasing the rate down to $57,000 triggers some doubts, if it's still actually still a correction, or if it's now a crash or some manipulation as has been mentioned by you here also.

However, it is important to note that the cryptocurrency market is very volatile, and changes in their prices are quite common as they're being triggered by various factors. Some of these factors include change in market, regulations or the state of the world economy as regards to prices.

It is therefore important that in one's analysis, one should incorporate  more technical things like the charts and trends as well as more fundamental factors like the news and market sentiments. Collectively, these techniques could help investors make better choices to a certain degree.

Businessman will not donate their money to politician if they don't have any business interest to protect. For sure If Trump win on his presidential bid there would be a return of favor so for sure that Winklevoss twin or Gemini will benefit on it.

That's how businessman and politician deals to extend their influence, but lets do hope that they will not create chaos on crypto space and everything what they do will be aligned to what people like or simple term all of us should provably get benefit on possible support or positive actions towards bitcoin and crypto.

Lol. Imagine donating money to the campaign of a billionaire. I think there must be more behind this than we are being told. Perhaps some kind of secret business deal ? That would make much more sense.

What about RFK Jr.? He has previously shown support for Bitcoin. I'm surprised why no one is taking about him in crypto land. All of the attention is on Trump now. Especially when he promised to free Ross Ulbricht.

I guess the crypto industry views Trump more favorably than Robert F. Kennedy Jr. (RFK Jr.). Still, he could make an impact at the polls. RFK Jr. might reduce the number of votes for both Biden and Trump. It'll be an interesting event to watch this November. The US is "sailing" in uncharted waters. So expect the unexpected.

This price range was touched in early May, two months ago and now we just touched it again. If price can not hold it, it might crash to $50,000 or $51,000 which can be held for a while. It will create panic but I believe price will hold around $50k to $51k and won't dive more to $43k to $45k.

I completely agree with you with a conspiracy theory of market manipulation but could I ask you what is your vision for this market cycle?
My belief is market will turn to bullish in late of 2024 and first two quarters of 2025 that can be time for consideration of 2024 - 2025 market top.

If Trump were a criminal, I would be more confused with the US constitution and politics. Why did they let a criminal become a presidential candidate? Are they helping and supporting criminals to become president?

You should stop repeating that bitcoin increased 500% under Biden because the growth of bitcoin did not only happen during Mr. Biden's term. Bitcoin has been around for 15 years and it has gone up millions of percent without caring who the president of the United States is. I bet you no matter who becomes president, they will not be able to stop bitcoin from growing or even without America, bitcoin will still exist and grow. The US does not represent nor has the right to decide the existence and development of bitcoin.

I completely agree with the correction explanation, but here is the problem how much fall is categorized as correction? What percentage and to what support?

We've been coming down from $72k and I personally can consider prices down to $60k to be correction which is a strong support. But as we go lower, it becomes harder to call it a correction. It starts looking more like a crash and maybe even market manipulation; speaking of a crash we just touched $57k range.

It's not coincidence but it's how market makers wisely use any potential bad news to turn it to negative sentiment in the market and force the price fall.

If we see that Bitcoin need to have correction and accumulation after many months of bullish since 2023, latest corrective months can be explained without any relations to Trump's chance to become an Elected President in November this year.

Nearly three months since a latest Bitcoin halving in April, price is about 10% or a little bigger from 2021 all time high and people are panic. This price is good enough to enjoy, not to be panic and top of this bull market, a new cycle since April halving is only at beginning.

Bitcoin profitable days so far is 97.5% https://www.lookintobitcoin.com/charts/bitcoin-profitable-days/ and if people can hold their bitcoins for several months, I believe risk to have loss is small, as said the bull market won't end soon.

Is it just a coincidence that with every percent Trump moves ahead in the elections the bitcoin price dumps as well?!!

There were no United States to have laws to recognize it as a crime either. Otherwise slavery was a crime in the rest of the world except the West where slavemasters ruled.

I'm drinking a glass of pure American water right now. It's great.

you might want to check on california, nevada, arizona fight over water
america is not as great as you dream it to be, and no MAGA hat will change it