Will Bitcoin Whale Donald Trump step in to support his favorite crypto coin?

If US President Donald Trump is unhappy with his country’s job figures, he simply fires the head of that department. If he doesn’t want any more immigrants from Afghanistan, he simply closes the border to them. If he wants to start a war with Venezuela, he simply does so. Following that logic, you can conclude that if the US President (who owns some $800 million in Bitcoin) wants the Bitcoin price to stop falling, he’ll intervene?

Trump Trade

Last November, stock markets first experienced the so-called “Trump Trade,” an investment focused on defence stocks, tech stocks and crypto. This is because Trump is known to occasionally start wars, is close to Silicon Valley CEOs, and his family has become big fans of crypto. That last one is significant, as Trump now owns approximately $800 million in Bitcoin.

By the end of October, that figure was considerably higher of course, but due to the decline in Bitcoin’s value, Donald Trump is losing tens of millions. Some online commentators therefore believe the US President will soon intervene to halt the price decline.

Krugman

However, economics professor Paul Krugman disagrees. He argues that due to Trump’s immense influence on the Bitcoin price, the price of the largest digital currency will now follow the US president’s political successes (and disappointments). Krugman also argues that the Democrats’ victories last month in several states, including New York City, therefore heralded the end of the 2025 Bitcoin bull run.

The following year will undoubtedly become a very interesting political period in the US.