Hypothesis: To the extent he can influence it with policy, Trump will want Bitcoin well above short term holder cost basis and approaching all time highs going into fundraising season for the mid-terms. That means waiting to turn the heat up on policy until we’re closer to midterms. If he pumps the price too soon we could be in declining markets when he needs our contributions.

New money is important in politics because it upsets traditional equilibrium in the legal bribery markets. Bitcoiners are the new money.

To be clear, Trump has zero influence over Bitcoin but he controls the thing everyone still uses to denominate it. 1 Bitcoin = 1 Bitcoin.