Trump, Bitcoin, and Big Bill: A New York Minute on Crypto's Wild Ride

Analyzing the impact of Trump's policies and crypto ventures on Bitcoin, with a dash of New York flair.

Hold onto your hats, folks! The intersection of Trump, Bitcoin, and the infamous "Big Beautiful Bill" is a whirlwind. Let’s break down what's happening, New York style – fast and to the point.

Trump's Crypto Empire: From Real Estate to Digital Gold

Turns out, the Trump family's crypto adventures have been seriously padding the former president's pockets. We're talking hundreds of millions, possibly pushing a billion, thanks to projects like World Liberty Financial (WLFI) and the $TRUMP memecoin. Forget licensing deals, crypto is the new bread and butter, baby! Bloomberg reported that Trump family crypto projects have boosted Donald Trump’s personal wealth by at least US$620 million.

Big Bill, Big Debt, Bigger Bitcoin?

Trump’s “One Big Beautiful Bill” (OBBBA) is still causing ripples. While it's designed to boost the economy, some experts think it'll weaken the dollar and stoke inflation. James Toledano, chief operating officer at Unity Wallet, stated that the bill is likely to weaken the dollar and increase inflation, factors that could enhance bitcoin’s appeal as “digital gold.” How? By potentially sending more money into Bitcoin investments as folks look for a safe haven against that weakening dollar. The bill’s massive $4.5 trillion tax cuts would leave people and companies with more money in their pockets.

The Political Chess Game

Of course, nothing is ever simple. Democrats are trying to curb Trump's crypto profiteering, proposing measures to ban senior government officials from owning and promoting cryptocurrencies. Oregon Democratic Senator Jeff Merkley even sought to prevent senior government officials, including the president and vice-president, from owning and promoting cryptocurrencies. So far, nothing's passed, but the battle lines are drawn.

Bitcoin's Rollercoaster: Highs, Lows, and Everything in Between

Bitcoin itself is on a wild ride. Some analysts are pointing to technical indicators suggesting a potential price pullback. According to a recent X post by seasoned crypto analyst Ali Martinez, Bitcoin has triggered a Tom Demark (TD) Sequential sell-signal on the quarterly chart. On the flip side, others are predicting new all-time highs. It's classic Bitcoin – volatility is the name of the game.

My Two Satoshis

Look, it's clear that Trump's involvement in crypto is a game-changer. Whether it's through policy or his family's ventures, he's shaping the narrative. The