Tag: Cryptocurrency

  • Opinion: Trump and Musk, the “crypto influencers”

    Opinion: Trump and Musk, the “crypto influencers”

    There is a lot of discussion to be had over the value of cryptocurrencies in the modern world. It is a notoriously volatile market, and like any gamble, it can give as much as it can take away.

    Yet, if you are someone with influence, you can create your own odds. This is what individuals like the American president-to-be or Elon Musk have done in the last few weeks.

    These “crypto influencers” have generated interest in certain currencies. A recent example is the meme-inspired cryptocurrency, $Trump, unsurprisingly owned by Donald Trump.

    If someone invests in something in which they are directly involved, they can foresee its value. They have the capacity to increase its value by promoting it on their own platforms. This influence can make them a billionaire overnight.

    Politicians and figures of power have always been able to influence the markets. Their platform is bigger and louder than most. But what happens if they are using that platform for their own financial gain?

    As many of Trump’s supporters might say, this makes him a good businessman. But does it make him a good world leader?

    The value of gold often fluctuates whenever Trump says something radical. But so does fear and uncertainty.

    Global economic and political uncertainty tends to create an appeal for gold, which is an internationally recognised, physical and finite currency.

    The value of gold also increases during times of war.

    At the moment, it is the highest it has ever been.

    So, I do wonder how much of “Trump’s Talk” is led with a financial agenda, and how much he and Elon Musk are benefiting from the frenzy they are contributing to in the world of finances.

    In the stock market, a single statement (true or not, acted upon or not) has the potential to make a big difference in the value of something.

    I am not a political nor a financial expert, but Trump and Musk’s trend of behaviour, alongside the value of gold and the crypto they are involved in, does suggest that a current priority for them is in increasing their capital.

    Which begs the question, will that still be the case after tomorrow’s inauguration?

    There is a lot of discussion to be had over what happens next in America. It is a notoriously volatile subject, and like any gamble, nobody truly knows what will follow.