[CryptoButthead.com , msc, mschro, November 5, 2024] Howdy, folks! Buckle up, ‘cause this election ain’t just about who’s gonna be sittin’ in the Oval Office. Nope, it’s about where Bitcoin’s headed, and these days, that’s like watchin’ a rodeo with a bull that just don’t wanna quit. Research and brokerage firm Bernstein has been keepin’ an eye on it, and their analysts reckon we got a wild ride ahead, dependin’ on whether ol’ Trump or Harris takes the reins.
Now, if The Donald grabs the White House again, we could see Bitcoin buck its way right up to the $80,000–$90,000 range. That’s higher than a Texas summer, folks! Meanwhile, if Harris pulls through, they’re lookin’ at Bitcoin droppin’ to $50,000 before gettin’ its boots back under it. Not exactly a small swing, huh?
Over at Bitcoin Magazine, CEO David Bailey’s spillin’ the beans on a global Bitcoin movement hotter than a jalapeño chili cook-off. Bailey says nations left and right are quietly buildin’ massive mining rigs. We’re talkin’ pilot projects pumpin’ out 100 megawatts and gearin’ up to go even bigger. And he’s sayin’ countries might be fixin’ to stash Bitcoin in central banks, stackin’ ‘em up like chips in a poker game. It’s like folks everywhere are finally wrappin’ their heads around Bitcoin as a serious store of value, not just some internet fad.
Speakin’ of stackin’ up, MicroStrategy’s CEO, Michael Saylor, just dropped his “21/21 Plan,” and let me tell ya, this is one heck of a tall order. Saylor’s wrangled up a plan to raise $42 billion over the next few years to buy even more Bitcoin. That’s right—this guy’s so bullish on Bitcoin he’s puttin’ his company’s money where his mouth is. With that kind of bankroll, MicroStrategy could be sittin’ on more Bitcoin than a coon dog on a steak.
Meanwhile, the folks at the Bitcoin Policy Institute have a real humdinger of an idea: A Strategic Bitcoin Reserve for the good ol’ U.S. of A. They’re arguin’ that stockpiling Bitcoin could give Uncle Sam an edge, protectin’ against inflation and bringin’ in stability like gold once did. And if we’re playin’ it right, this could put the U.S. a step ahead, especially with all them other countries dabblin’ in digital currencies.
But here’s where it really gets spicy. Trump’s promised to can SEC Chair Gary Gensler, who’s been hammerin’ crypto firms like a blacksmith on a horseshoe. Gensler’s got a reputation for his enforcement-style regulation, which has the crypto world seein’ red. Now, Trump says he’ll fire Gensler on day one, but that might be easier said than done. Let’s just say, kickin’ Gensler out without a solid reason could be like tryin’ to get a stubborn mule to move—it’ll take a while.
Now, with the country votin’ like it’s the biggest shindig of the century, Bitcoin’s future could hinge on who wins this nail-biter of an election. A Trump win? We’re in for a Bitcoin rodeo like you’ve never seen. A Harris win? Well, Bitcoin might need to take a knee before gettin’ back on its feet. One thing’s for sure, folks, this election ain’t just about who’s callin’ the shots—it’s about who’s ridin’ the Bitcoin bull.
Ash: “Man, Booker, if Bitcoin hits $90,000, I’m gettin’ me a ranch!”
Booker: “$90,000? Heck, Ash, I’m buyin’ the whole dang town!”
Ash: “Here’s hopin’ Trump’s lassoed in that chair-sittin’ SEC fella, Gensler.”
Booker: “Reckon if anyone can, it’s The Donald.”
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