The Winklevoss twins, who are behind the Gemini cryptocurrency empire, have officially supported Donald Trump. They also backed it with $2 million in bitcoin.
The Winklevoss brothers are for Trump
Gemini co-founders Cameron and Tyler Winklevoss have contributed a total of $2 million in bitcoin to the Trump campaign. In a post on social media, they added that they also planned to vote for the candidate of the Republican Party. Reason? Trump is “pro-Bitcoin,” and President Joe Biden has “openly declared war on cryptocurrencies.”
President Donald J. Trump is a supporter of bitcoin, cryptocurrencies and business
Tyler said. In his opinion, “this is not even remotely debatable” and “anyone who says otherwise is wrong, delusional or not telling the truth.”
And in fact, Tyler added, during the Biden administration, the Securities and Exchange Commission (SEC) was attacking cryptocurrency companies. Binance paid a fine of half a billion dollars. Officials have clarified whether ether is a security (this case was recently concluded). In addition, CZ, the CEO of the above-mentioned Binance, was sentenced to several months in prison. And this is just the tip of the iceberg!
Betting on a dark horse?
Regardless of whether Trump is actually as much of a bitcoin fan as he wants to appear (a few years ago he believed that cryptocurrencies were criminals’ tools), he has a better chance of winning than Biden. He even leads in the polls by a few percentage points, which is a big difference considering the US political system.
There is also the other side of the coin. The mentioned electoral system in the USA is different from the one we know in Poland. Voters do not vote for a presidential candidate there. They vote for the elector who will vote for the first one. The latter only declares that he supports a given politician. Then he can vote for someone else. There are even greater paradoxes: a given candidate wins in terms of votes cast for him, but he still does not become president because he loses in the electoral vote. Trump’s success is not so certain.
Apart from the latter, the Republican’s victory may cause other repercussions, not necessarily good for bitcoin. Many believe that Trump will accelerate the US war with China. This means a quake in the markets. And all of them. We don’t know how cryptocurrencies will react to something like this…
