- Political memecoins could predict Bitcoin’s price and replace traditional polling.
- Hayes argues that political memecoins reveal real sentiment, free from social pressure or media bias.
When it comes to $TRUMP, the token President Trump released on the Friday before his Monday inauguration, investor Arthur Hayes sees more than just another memecoin.
A popular blogger and chief investment officer of Maelstrom, Hayes argues in his latest post that $TRUMP’s presidential provenance gives it far more utility than a typical financial contrivance.
In $TRUMP, Hayes sees multiple functions: a predictor of Bitcoin’s price movements, a tool for campaign fundraising, and a replacement for traditional polling, among other possibilities.
Each, he contends, represents a new paradigm for crypto markets worldwide.
“Trump, in one master stroke, just enacted campaign finance reform, and I don’t think he even knows it,” Hayes wrote.
He argues that building a community of loyal supporters is easier when everyone stands to benefit financially from political success.
Whether those who speculated on $TRUMP actually profited remains a matter of debate.
Beyond this, Hayes believes politically linked memecoins could serve as real-time indicators of a politician’s popularity.
“Political memecoins offer zero-knowledge proof of political popularity,” he wrote.
“As an individual, you can now privately support a politician by purchasing their memecoin — one your friends may abhor — without facing social stigma. This gives politicians a more accurate measure of public sentiment.”
Finally, Hayes argues that $TRUMP’s market performance—likely monitored by Trump himself — could act as a barometer for Bitcoin’s movements.
“I believe that if crypto sentiment is improving, $TRUMP will lead Bitcoin,” he wrote.
“If insiders believe an upcoming policy will positively impact crypto, $TRUMP will surge before the news is announced — then Bitcoin will follow.”
Crypto market movers
- Bitcoin has gained 0.5% over the past 24 hours to trade at $97,420.
- Ethereum is down 0.1% on the day to $2,700.
What we’re reading
- XRP ripped after SEC acknowledgment. These other three factors are driving its price ― DL News
- Trump Is Having Second Thoughts About His Crypto Council ― Unchained
- What the hell just happened?? ― Milk Road
- Coinbase says crypto’s ‘new era’ also means more rivals as earnings smash targets ― DL News
Andrew Flanagan is a Markets Correspondent for DL News. Got a tip? Email at aflanagan@dlnews.com.
