Politically Speaking
All things considered, I would rather be choosing between different candidates. I’m a Libertarian at heart. The government is far too big for my liking. Nonetheless, we are stuck with a two-party system. I’ll make the most of it and trust you will as well.
If you have listened and watched the political coverage it’s obvious that everyone has an opinion. As a matter of fact, from the “big boy” prognosticators to the fly-by-night social media broadcasters, everything about anything is on the table. Most go in one ear and out the other but one issue has stuck. A Trump win benefits crypto.
It’s Bitcoin Time
I made money twice on Bitcoin. Back when COVID-19 raised its ugly head PayPal was making it possible to buy Bitcoin on its site. You could sell it if you bought it but until you bought it you could not. In other words, demand was one-sided. I jumped in at the $12,500 level and sold around $48,000. Simple supply and demand. Then everyone and their brother, you know the basic “herd” said Bitcoin was headed to $100,000. It was not so I went short but was more of a chicken than not. I still put money in my pocket but not as much as I did on the upside. Then I stepped aside, for many years until the events of the weekend told me to get back in.
It’s not easy trying to dissect the winners and losers of the upcoming election. Hell, I am not even sure who is going to win but assassination attempts skew results. I have a feeling that Trump will emerge victorious but which functioning economic theory do you go with? The only one I thought worthy and more probable than not was crypto.
For me, there’s only one “crypto” out there to work with, “Bitcoin”. So when the shots rang out in Butler on Saturday my choice was simple. I bought Bitcoin futures and I’m glad I did. Simply supply and demand for me again. I think Trump is going to win. I do believe if he does the price of Bitcoin will benefit. I think the companies that own Bitcoin will do well. So I own them both in my managed Roth IRA accounts.
I started buying Microstrategy (“MSTR”) a while back. My average price of entry is at the $1,325 level and it’s splitting 10-1. I could have jumped into the ETF markets but these entities don’t do any more than reflect market sentiment. I wanted an entity that owned Bitcoin.
The same holds for the future itself. I own the actual Bitcoin itself. Always remember, I could be wrong and that’s certainly happened in the past albeit not very often. This is a very volatile market. There are entities out there that need to sell Bitcoin. Others think Bitcoin is heading lower.
All I can do is put two-and-two together and size up all of the probabilities. Parameter matrices suggest you do your homework. I place a great deal of weight on the outcome of the upcoming election and that Trump likes crypto. That’s driving me more than a lot of things but face it, failed assassination attempts don’t hurt either.
Catch Us At The Ticker
Nothing good happens overnight. Big week in politics. Even bigger for how the world perceives America. Lots to watch and listen to so check us out at TheTicker. It’s worth it to know our thoughts and thank you for your support.
The Black Eyed Peas said it best. “I Gotta Feeling” that tonight’s going to be a good night. The last couple of days were troubling. The judge in Trump’s document case just dismissed it. That’s a start. Let’s watch where it heads. There are many months left before the polls matter. Stay true to your beliefs and vote. Win at the ballot box and throw bullets away.