In an interview shared by crypto influencer Amelie (@_Crypto_Barbie) on X, Yusko claimed that Trump, through a family-controlled entity, is acquiring various cryptocurrencies, including Bitcoin, Hedera, and XRP. The post’s caption amplified the claims, suggesting a strategic move by Trump into digital assets.

Yusko stated that Trump and his son, are purchasing cryptocurrencies that could be approved for exchange-traded funds (ETFs). While Yusko implied that Trump himself might lack direct knowledge of these investments, his comments suggest a strategic move by the president-elect into the crypto space.

WOW!

AMERICAN INVESTOR & HEDGE FUND MANAGER MARK W. YUSKO SAYS IN AN INTERVIEW:

„DONALD TRUMP IS BUYING A BUNCH OF CRYPTO: BITCOIN AND HEDERA AND XRP!“

TRUMP #XRP pic.twitter.com/ymAtOGhUUU

— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) December 20, 2024

The Role of ETFs in Driving Interest

The reference to ETFs is notable. Over the past year, interest in cryptocurrency ETFs has surged, with several applications for spot XRP ETFs currently under review by the U.S. Securities and Exchange Commission (SEC). The regulator has approved Bitcoin and Ethereum ETFs, leading to significant increases in institutional interest in these assets, and market growth.

XRP has been touted by many including Ripple CEO Brad Garlinghouse as the next candidate for ETF approval. The asset’s legal clarity and popularity have heightened its appeal. While Hedera is also a prominent player in the crypto space, XRP is the real standout performer.

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Rumors and Implications

This isn’t the first time Trump’s name has been linked to cryptocurrency. Recent rumors suggested that Trump planning to include Hedera and XRP in a proposed U.S. strategic crypto reserve. However, these claims were refuted by Charles Hoskinson, the founder of Cardano, who tagged them as unfounded.

Despite the denials, speculation continues to swirl, fueled by Trump’s reported ties to World Liberty Financial, a financial institution inspired by his business and political persona. Many in the crypto community believe this connection indicates his growing interest in digital assets.

Trump has consistently supported cryptocurrencies. He even accepted crypto donations during his campaign. If Yusko’s claims are accurate, Trump’s involvement could have broader implications for the cryptocurrency industry.

High-profile endorsements or investments often attract significant attention and legitimacy to the market. Given Trump’s influence and political standing, his participation could encourage other investors, including institutional players, to follow suit.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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The data shared by PwC was from a survey conducted by crypto assets manager CoinShares in the first quarter of 2022. The survey focuses only on crypto hedge funds.

Read Also: CEO of $80 Billion Asset Manager Says Bitcoin (BTC) Will Reach $250k but Could Take Decades

The survey was conducted in April 2022. It shows that even though the crypto winter has abounded since the start of the year, hedge fund managers remain very bullish on Bitcoin (BTC) and anticipating a rebound.

The report reads in part:

“All respondents predicted that BTC would end the year above the prevailing price upon survey closure, $40,000, with the median prediction of BTC price being $75,000. 

The majority of predictions were within the $75,000 to $100,000 range (42%), with another 35% predicting the BTC price to be between $50,000 and $75,000 by the end of 2022.”

However, the report emphasized that it’s unclear how recent events and changes to market sentiments can impact the estimate.

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The post PwC Study: Majority of Crypto Hedge Fund Managers Remain Bullish On Bitcoin Despite Current Market Downturn appeared first on Times Tabloid.