There is growing speculation on social media that if Donald Trump wins, Bitcoin-friendly BlackRock CEO Larry Fink will be named Treasury Secretary. Larry Fink and Donald Trump have strong business ties. Despite these rumors, JPMorgan CEO Jamie Dimon is also emerging 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 among the candidates!
As you have been following on Kriptokoin.com, there is speculation that Donald Trump is considering Larry Fink for the Treasury Secretary position. However, FOX Business reporter Eleanor Terrett stated that this is not the case, as the Republican presidential candidate is expected to ask JPMorgan CEO Jamie Dimon to take on this task. On the one hand, Terrett is not far from the truth, given that Trump has taken every opportunity to tout Dimon as his choice.
After picking pro-Bitcoin JD Vance as Vice President a few days ago, Trump considered bringing the JPMorgan Chase CEO for the role of US Treasury Secretary. However, some crypto advocates suggested that the person Trump respected and spoke to was actually Fink. There is even an existing relationship between Trump and Fink’s company BlackRock. The investment asset management firm has managed Trump’s financial portfolio for many years. The presidential candidate even invested his funds in the BlackRock Obsidian Fund, described by the firm as a “global fixed income multi-strategy hedge fund.” Therefore, he may indeed be considering the Bitcoin-friendly BlackRock CEO for the Treasury Secretary position.
“Trump may appoint his Bitcoin buddy as Treasury Secretary!”
According to journalist Charles Gasparino, former US President Donald Trump could appoint BlackRock’s CEO Larry Fink as the next Treasury Secretary if he wins the elections in November. Fink, who manages Trump’s investment portfolio and previously served on his business advisory council, continues to influence Trump’s economic views. Although Trump has said he is considering JPMorgan Chase CEO Jamie Dimon for the job, Gasparino believes Fink is the preferred choice due to his deep market knowledge and moderate political stance.
Gasparino argues that Trump continues 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, noting that he has done a great job managing his money and generating huge returns. Fink’s election could be a relief for Bitcoin maximalists and the crypto market, which had previously frowned at the prospect of anti-Bitcoin Jamie Dimon at the helm.
Bitcoin will benefit from the ‘Trump trade’!
Analysts expect Bitcoin to benefit from the “Trump trade” during the 105 days leading up to the November elections. The digital asset, along with some stocks, is likely to be supported by the prospect of a Donald Trump victory, according to a ZeroCap crypto market report on Monday. “’Trump Trade’ has become a major catalyst for a sustained rally from here, with investors going long energy, banks and Bitcoin,” ZeroCap analysts said.
Joe Biden drops out of the presidential race
The likelihood of Donald Trump returning to the White House strengthened after incumbent US President Joe Biden announced he would withdraw from the election and then endorsed Vice President Kamala Harris as his successor in the race, ZeroCap reported. The report added that Harris is less popular in opinion polls than incumbent Biden. In light of this, analysts said recent developments at the top of the Democratic Party have increased the likelihood of a pro-crypto government in November. “Trump has said he will free Silk Road Founder Ross Ulbricht, who is serving two life sentences,” the report said. He also stated that he wants to enable innovation in the crypto space through looser regulations.”
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