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Bloomberg reports that David Bailey successfully convinced Trump to embrace cryptocurrency, and his hedge fund 210k Capital achieved a net return of up to 640% within a year.
This sounds incredibly inspiring; Bailey not only lobbied political heavyweights but also made a fortune in Bitcoin investments, with the fund now reaching $433 million, mainly betting on companies transitioning to Bitcoin.
Think about what the SEC chairman just said about stablecoins being regulated by banks; this shift in policy direction is likely to heat up the crypto market, and Trump supporters are probably ecstatic.
But don’t rush to go all in; pay attention to the news about Ethereum's market cap surpassing Costco, which suggests that large funds are flowing in, and the next wave of the market may focus on ETH concept stocks.