Ivan On Tech – BITCOIN: TRUMP GOING TO JAIL WTFFF (31.05.2024 Summary)

Ivan On Tech – BITCOIN: TRUMP GOING TO JAIL WTFFF (31.05.2024 Summary)


What a wild ride the crypto world has been on lately, according to our buddy Ivan! He says the markets have been pretty sideways for Bitcoin recently, but the real story is the drama unfolding in the political sphere.

πŸ§‘β€βš–οΈ Trump, the former president, has been convicted as a felon – and some folks are celebrating while others call it a “banana republic” situation. The plot thickens because in July, there’s going to be a sentencing hearing to decide if the guy actually goes to jail or not. Crazy stuff!

🟒 But wait, there’s more! Out of nowhere, President Biden is suddenly all about crypto now. Ivan says just months ago, Biden was bashing crypto investors, claiming they were taking money from single moms. But now that Trump has embraced crypto and gained a ton of new supporters (around 50 million Americans are crypto holders!), Biden is trying to get in on the action too.

πŸ‡ΊπŸ‡Έ Ivan thinks the Democrats need to get on board with crypto to have any future, since it’s mainly young people invested in this new technology. So Biden is trying to reverse course and make nice with the crypto community that he was calling the “enemy of the state” not long ago. Wild flip-flop!

πŸ€” According to Ivan, while Trump at least has his own NFT collection and millions in a crypto wallet, it’s unclear if Biden even really understands what crypto is. But the politics are just getting started in this space.

🐸 On the markets front, Ivan says the altcoin scene has been a bit depressed lately, except for one shining star: Pepe! The Pepe coin is setting new all-time highs with massive trading volume. So much so that Ivan ponders whether we could see things like a Pepe ETF in the future, since the volume for joke coins is outpacing some major projects.

πŸ’Ή He compares Pepe’s fundamentals to XRP and argues that despite having no real use case, Pepe’s economics and trading activity could justify an ETF product. And with meme coins making up 20-30% of the overall altcoin market cap, this space is too big for Wall Street to ignore now.

So there you have it – Trump’s legal drama, Biden’s crypto flip-flop, and the rising wave of financialization and politics crashing into the blockchain space. It’s a wild world, but Ivan is here to guide us through all the chaos! Let’s see what happens next in this theatrical bitcoin saga.