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Charles Edwards of Capriole Investments anticipates the state of the U.S. economy if Donald Trump wins the election in November and why it could be bullish for Bitcoin.
"Trump wants to win the election; how can you be bearish on BTC?"
Charles Edwards took to Twitter to offer his reasons to be bullish on Bitcoin if Donald Trump wins the election and stays in the presidency for another term.
Edwards describes Trump as a leader who believes in the current financial system and does not see a future for the U.S. economy without continuing the financial stimulus program he started in March. At that time, the U.S., along with much of the world, was driven into lockdown by the COVID-19 pandemic.
According to Edwards, Donald Trump considers the stock market to be the measure of financial success. Trump also thinks, in Edwards' view, that he can change stock prices through his policies and by introducing UBI (universal basic income).
In this particular case, UBI is not what activists like Andrew Yang believe it is. Under current economic conditions, UBI involves policies like stimulus checks for average U.S. citizens and PPP for businesses.
Thus, Edwards concluded, the monetary supply is likely to keep growing.
He believes this is likely to be bullish for Bitcoin.
"We know exactly what Bitcoin will be doing"
Vocal Bitcoin activist Anthony Pompliano, partner at Morgan Creek Digital and a podcaster, has also touched on the topic of monetary stimulus in his recent tweet.
He wrote, though, that no one knows if the Fed will print more money in the near future.
Despite that uncertainty, he is one of the influencers who has been constantly reminding the crypto community about the QE as a major argument for Bitcoin’s possible rise in the near future.
The economic stimulus and possible scenarios for the economy going forward were topics that "Pomp" touched on in his recent YouTube video.
Meanwhile, the stimulus program continues in Europe, as during the EU Summit European leaders agreed to inject €1.82 trillion to help the region recover from the consequences of the pandemic-induced lockdown.