Bitcoin’s (Donald) Trump Card

Bitcoin’s trump card may be Donald Trump.
Yes, this is a very real story based on an actual Juniper Research study that gives some insight into what a Trump presidency could do for bitcoin’s prices.
‘If Donald Trump becomes president of the U. S., there is the very real prospect of turmoil on world markets – the Economist Intelligence Unit ranks his presidency within the top 10 global risks. However, bitcoin trading would thrive in such an environment, at least until the impact on major fiat currencies becomes clear,’ wrote Dr. Windsor Holden, head of forecasting and consultancy at Juniper Research.
To put the concept of economic crisis and its impact into crisis, Brexit also appeared to be a good thing for bitcoin, price-wise, as the price of bitcoin saw a nice little jump following the news that the U. K. residents voted to leave the EU.
Juniper’s study, titled ‘Will Bitcoin’s Bite Back,’ also projects bitcoin’s total transaction volume to pass $92 billion by the end of 2016 – more than triple its 2015 volume. That specific spike was attributed to Brexit, and uncertainty in China’s economy, along with the impending bitcoin mining reward halving even that’s set to occur on July 9.
Of course the Trump-bitcoin price speculation is just one theory and one that Darryl W. Perry, a libertarian who once was on the list for the 2016 presidential primary candidates, doesn’t buy. He was quoted in one bitcoin publication as saying: ‘It seems to be pure speculation that Trump would have more of an impact on the markets than Hillary. Further, I don’t see the president or any elected official impacting the price of bitcoin, unless there is passage of regulations.’
As for what else happened in bitcoin news this week…

This post was published at Pymnts on July 8, 2016.