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He’s Back!
Who?
The Donald of course!
The President-elect of the United States.
I still can’t quite believe THAT GUY I watched on The Apprentice two decades ago will now be the leader of the free world for the SECOND time.
Amazing what the circle of life brings.
But frankly speaking, I wouldn’t have voted for either Harris or Trump even if I was eligible.
If those two candidates were the “best” which the US had to offer in terms of the presidency, then it’s a pretty sad state of affairs.
Sigh.
Seems to me that politics these days is all about pandering to whatever extreme left or right of the aisle you’re sitting in – just shouting anything, to anybody, at anytime to grab votes.
So love him or loathe him, the 47th President of the United States is going to make the next 4 years very interesting that’s for sure.
I asked around my social circles last night about what people’s thoughts would be for us (as in we, the collective, living here in Australia), and honestly it didn’t seem like his winning would affect the average Australian Joe that much.
Sure, there was mention of trade tariffs with China (and the flow-on effect to Australia), renegotiation of the AUKUS Agreement (yes, I have no idea WTF that is either), some populist influence (Dutton our next PM?) and general volatility cos he’s just a volatile dude.
Nothing that makes me leap outta my chair and put my fist through the screen, or hop on my desk and howl in delight like a crazed werewolf.
Although, I suppose one area which tickles my underpants is his attitude towards cryptocurrency.
You see, I’ve been gambling invested in crypto on a serious basis for almost 2 years now.
*By serious, I mean actually bothering to “research” on what I’m putting my money in.
And in those 2 or so years, I’m still undecided on whether crypto is one giant ponzi scheme, or whether it actually is cutting edge frontline tech (except for bitcoin, which thanks to institutional adoption – really is here to stay).
Regardless of which, I do think we are at a stage way way early for either.
So it makes sense to have a little asset allocation to capture any future “growth”.
Nothing crazy mind you, certainly not the seven and eight digit portfolios which some people I know hold.
Nah, yours truly just doesn’t have that sort of firepower.
I’m holding enough to “wet my beak” so to speak.
Cos honestly, I don’t see any sector which really offers the same risk/reward profile currently.
Property? Yields/growth potential probably isn’t there atm – sluggish to say the least.
Shares? Valuations are too damn high in my eyes – overpriced methinks.
Business? Already working on it, that’s a slow burn.
So yeah – crypto right now provides probably the longest runway – for me anyway.
Donald Trump evidently thinks so as well.
All throughout his campaign, Trump has lavished praise on Bitcoin and cryptocurrency, and his win has prompted speculation of lesser regulation for the industry, potential new legislative changes to grow the industry, potential new ETFs for mainstream investment and the start of the epic “bull run” which so many pundits have predicted.
Indeed, bitcoin’s price hit a new all time high of USD76k only a few hours ago, rising the tide on all other crypto ships in the harbour.
Fuckin pumpin.
Only worry I s’pose is the future like anything is far from guaranteed.
Crypto prices are highly susceptible to global events, macroeconomic trends and the aforementioned government oversight.
It’s unclear how dedicated Trump actually is to crypto as well (see above comment about shouting anything) and whether he will follow through on his pledges to the industry.
But for the immediate timeframe, the future looks as bright as it’s ever been.
I’m thinking that tickle in my underpants doesn’t need to be scratched just yet.
*Editor’s note: please note that investing in cryptocurrency poses extreme risk. Please only enter with eyes fully open, don’t just blindly follow this idiot who wrote this article.
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P.S. Every post is the personal opinion of yours truly, please seek your own personal financial advice regarding your own personal circumstances.
