Mark Yusko, founder of Morgan Creek Capital Management, has shed light on former President Donald Trump’s evolving approach to the world of cryptocurrencies. According to Yusko, both Trump and his son are significantly investing in digital assets such as HBAR and XRP. These cryptocurrencies are anticipated to potentially gain approval for exchange-traded funds (ETFs) as early as next year. Additionally, Yusko mentioned that Trump is also heavily investing in Bitcoin, underscoring his increasing interest in the crypto sphere.
Potential Tax Exemptions for U.S.-Based Cryptocurrencies
In a recent conversation with Scott Melker, Yusko highlighted discussions about the possibility of exempting U.S.-based cryptocurrencies from capital gains tax. Such a legislative change could revolutionize the treatment of cryptocurrencies within the American financial market, potentially encouraging more widespread adoption and investment.
Yusko’s Skepticism Towards XRP and Cardano
Despite the substantial market capitalizations of XRP and Cardano, Yusko remains critical of these digital assets. He argues that they lack substantial development and innovation compared to other cryptocurrencies. Unlike Circle’s stablecoin, which is pegged to real dollars, Yusko views XRP and Cardano as having high market value but falling short on genuine technological advancement.
Pro-Crypto Leadership: A Shift in Power
During Trump’s recent visit to Nashville, Yusko discussed the former President’s direct engagement with voters. Trump made several promises, including a potential overhaul of the Securities and Exchange Commission (SEC) by replacing its head, Gary Gensler. Moreover, Trump faces pressure to take bold actions, such as advocating for the release of Ross Ulbricht and establishing a Bitcoin Strategic Reserve.
Yusko is optimistic about the current U.S. leadership’s stance on cryptocurrency. Influential figures like Scott Bessent and the newly appointed SEC head exhibit a favorable attitude towards crypto. This pro-crypto leadership is poised to implement changes that could significantly benefit the crypto industry, paving the way for its future growth.
The Technologist Revolution: Billionaires Taking Control
Yusko identifies a broader trend beyond Trump’s involvement—the emergence of “technologist billionaires” who are championing transformative changes. These tech-savvy innovators are working to reshape both the technology landscape and the nation. The focus is no longer confined to traditional political parties; it has shifted towards technological leaders who are eager to drive future advancements.
With these power dynamics evolving, Yusko envisions a new era for cryptocurrency led by intelligent, technology-oriented leaders. Trump appears to be aligning with this global movement, drawing inspiration from world leaders like Vladimir Putin, and seems prepared to allow these experts to spearhead innovation.
