Mark Cuban: Inflation Could See Bitcoin as Global Reserve
Inflation and geopolitical instability could see Bitcoin become a global reserve currency, the Cuban billionaire said, adding that he believes Trump's low tax rates and tariffs could boost Bitcoin's value.
US billionaire Mark Cuban believes a combination of inflation and geopolitical instability could make Bitcoin the world's reserve currency.
Heading into X, the billionaire pointed out that Silicon Valley is a “Bitcoin game” to boost its value in support of former President Donald Trump. Cuba, which backed Joe Biden for re-election, said Trump's low tax rates and tariffs could boost bitcoin's value.
“Couple this with global instability, the geopolitical role of the US and its influence on the US dollar as a reserve currency, and the stars could not align better for BTC's price acceleration,” Cuban wrote.
Due to the inevitable and required changes in the US Securities and Exchange Commission (SEC), this will make crypto trading easier, he added.
How high?
Asked how high bitcoin could go, Cuban didn't give a figure, but wrote “way more than you think,” saying it's because of its global scale, 21 million bitcoin limit, and the currency's unlimited fraction. .
In Cuba's view, if geopolitical instability continues and the dollar declines as a reserve currency, bitcoin could be a safe haven as countries seek to protect their savings.
Not only did he point out that this was possible, he added that it also happened in countries with high inflation.
After Trump was injured in an assassination attempt on the campaign trail in Pennsylvania, Musk publicly endorsed the former GOP president by saying he plans to pay $45 million a month to a new Super Political Action Committee supporting Trump's presidential bid.
In March, billionaire Elon Musk indicated that he would not vote for the Democratic Party in November. “I voted 100% Dem a few years ago,” said the tech mogul, who owns Tesla and SpaceX in addition to X. I think we need a red tide now or America is toast.
