There are increasing speculations on social media that if Donald Trump wins, Bitcoin-friendly BlackRock CEO Larry Fink will be elected Treasury Secretary. Larry Fink and Donald Trump have strong business ties. Despite these rumors, JPMorgan CEO Jamie Dimon also emerges as one of the best options. Meanwhile, analysts say Bitcoin will benefit from the ‘Trump trade’ ahead of the US elections in November.
BlackRock CEO or JPMorgan boss are among the candidates!
Cryptocoin.comAs you may have been following on , there has been speculation that Donald Trump is considering Larry Fink for the Treasury Secretary position. However, FOX Business correspondent Eleanor Terrett noted that this is not the case as the Republican presidential candidate is expected to ask JPMorgan CEO Jamie Dimon to take over the role. On the one hand, Terrett is not far off the mark considering that Trump has taken every opportunity to tout Dimon as his choice.
After selecting Bitcoin-friendly JD Vance as Vice President a few days ago, Trump considered bringing in the JPMorgan Chase CEO for the role of US Treasury Secretary. However, some crypto advocates have suggested that it was actually Fink that Trump respected and spoke to. Trump and Fink’s firm, BlackRock, even have an existing relationship. The investment asset management firm managed Trump’s financial portfolio for many years. The presidential candidate even invested his funds in the BlackRock Obsidian Fund, which the firm describes as a “global fixed income multi-strategy hedge fund.” Therefore, he may actually be considering the Bitcoin-friendly BlackRock CEO for the Treasury Secretary position.
“Trump may appoint Bitcoin friend as Treasury Secretary!”
Former US President Donald Trump could appoint BlackRock CEO Larry Fink as the next Treasury Secretary if he wins the November election, according to journalist Charles Gasparino. Fink, who manages Trump’s investment portfolio and previously served on his business advisory council, continues to influence Trump’s economic views. While Trump has said he is considering JPMorgan Chase CEO Jamie Dimon for the job, Gasparino believes Fink is the preferred choice because of his deep market knowledge and moderate political stance.
Gasparino suggests that Trump is continuing to nominate Dimon because he doesn’t like being told “no” and prefers to keep friends like Fink close and enemies like Dimon even closer. Trump has praised Fink in the past, saying he’s done a great job managing his money and has delivered big returns. Fink’s selection could come as a relief to Bitcoin maximalists and the crypto market, who had previously frowned upon the possibility of the anti-Bitcoin Jamie Dimon in power.
Bitcoin will benefit from the ‘Trump trade’!
Analysts expect Bitcoin to benefit from the “Trump trade” over the 105 days leading up to the November election. The digital asset, along with some stocks, is likely to be supported by expectations of a Donald Trump victory, according to a ZeroCap crypto market report on Monday. “The ‘Trump Trade’ has become a key catalyst for a sustained rally from here, with investors going long energy, banks and Bitcoin,” ZeroCap analysts wrote.
Joe Biden withdraws from presidential race
According to a ZeroCap report, the possibility of Donald Trump returning to the White House has been strengthened after incumbent US President Joe Biden announced that he would withdraw from the election and subsequently endorsed Vice President Kamala Harris as his successor in the race. The report added that Harris is less popular than incumbent Biden in opinion polls. In light of this, analysts said that recent developments at the top of the Democratic Party have increased the likelihood of a pro-crypto government in November. “Trump said he would release Silk Road Founder Ross Ulbricht, who is serving two life sentences. He also indicated that he wants to enable innovation in the crypto space through looser regulations,” the report said.
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