Why a “Blue Wave” Victory in U.S. Politics Is Bullish for Bitcoin

Key Takeaways

  • “It’s never been good for markets to have one party control everything,” says Yusko.
  • Yusko describes how corruption in both parties erodes the checks and balances in politics.
  • The CEO’s comments highlight the importance of the upcoming runoff elections for the Georgia senate.

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Mark Yusko is the CEO of Morgan Creek Capital Management, a VC firm that has invested over $100 million in the crypto ecosystem.

Yusko is bullish on Bitcoin, recently describing Bitcoin as a saving asset rather than a consumable asset like fiat.

Blue Wave Implications

Being long Bitcoin also means Yusko has a few strong opinions about government-controlled economies.

He decried the monetary easing policies that world banks rolled out during the pandemic, greatly increasing money supply and hyperinflating assets like stocks.

He also spoke out against corrupt American politics, pointing to a potential disaster in the markets.

SIMETRI gains of 484%

“I don’t think it’s the president that really matters,” said Yusko, stating that Congress poses a greater threat to economic stability. Equally, the domination of the Senate, Congress, and Presidency by the Democrat party could pose a threat to economic stability.

“If we get a total blue wave, the next two years could be nasty,” says Yusko. “it’s never been good for markets to have one party control everything.”

Yusko believes that with no opposition, the Democrat party will be more incentivized to stay in power than make sound political decisions. He clarified that he was not necessarily supporting either party, dismissing partisan politics altogether.

Bitcoin Is Non-Partisan

“There’s no right or left. There’s in or out,” says Yusko, referring to politicians seeking to be in power. Yusko stated that the checks and balances originally built into the U.S. political system had been undermined by corporate lobbying.

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“They have this thing called the lobbying index,” said Yusko.” The companies…

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