Stablecoin Data Suggests Risk Appetite is Rising, Adding SMLR to Equities Basket
BTC As a Possible Strategic Reserve
Last week, we discussed the rising political tailwinds affecting crypto. Despite events earlier in the year that might have suggested a changed stance from the Democratic Party, the political divide over the issue has grown stronger. The GOP has become the party that is undoubtedly more favorable to the industry.
The attempted assassination of former President Trump, juxtaposed against a Democratic Party seemingly in disarray, boosted the prospective GOP leader in the polls and on prediction markets.
There is good reason to think that this strength over the weekend was largely due to the shifting political winds, likely adding BTC to many Trump trade baskets, even in investing circles that normally do not wade into crypto due to a lack of interest.
Of course, we are still four months out from the general election, and a lot could change between now and then. Biden stepping aside for a more competent candidate could certainly move pieces on the chessboard against crypto, which is something to be cognizant of. But as it stands, the political tailwinds over the next few months should be an added boost to what have been fairly conducive macro conditions for the asset class.
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