JPMorgan Quietly Supplies Bitcoin to $7.5 Trillion Donald Trump and Fed Rate Earthquake

Bitcoin has skyrocketed this year, as a perfect storm of Wall Street adoption, Fed rate cuts and surprise support from former President Donald Trump led to a price boom — with more “fireworks” expected.

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Bitcoin's price topped its previous all-time high of more than £70,000 per bitcoin this year before falling to around $60,000 as the US and China begin what could become a crypto cold war.

Now, as Tesla billionaire Elon Musk warns that the US could collapse under the weight of its $35 trillion debt, JPMorgan analysts have predicted that a so-called “undervaluation trade” could fuel a boom in Bitcoin prices as the US election approaches – with… Expect Trump to do just that. Adding $7.5 trillion to US debt.

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Forbes “It's Nonsense” – The Legend of Mysterious Bitcoin Inventor Satoshi Nakamoto Suddenly Deepens as Prices Prepare to Bomb

Republican presidential candidate and former US President Donald Trump is expected to add $7.5… [+] trillion into the country's debt – something JP Morgan analysts believe could fuel a boom in Bitcoin prices.

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“Rising geopolitical tensions and the upcoming US election are likely to fuel what some investors are calling a ‘discount trade’ and thus favor both gold and bitcoin,” JPMorgan analysts led by Nikolaos Panigirzoglou wrote in a note to clients viewed by Marketwatch.

Gold and bitcoin could be boosted by “persistently high government deficits in major economies, declining confidence in fiat currencies in some emerging markets, and broader diversification away from the dollar,” according to analysts who said a Trump election victory would be more likely. Promoting the trade of devaluation.

Trump is expected to increase the federal debt by about twice the expected increase if Democratic Party nominee Kamala Harris is elected, according to a report by the nonpartisan Committee for a Responsible Federal Budget.

Trump will rack up federal debt by $7.5 trillion by 2035 if he reclaims the White House next month, while Vice President Harris is expected to increase the debt by $3.5 trillion over the same period.

The US national debt has risen dramatically in recent years, surpassing the $34 trillion mark at the start of 2024, largely due to coronavirus-related stimulus measures and lockdowns.

JPMorgan analysts later wrote that Bitcoin's price “has yet to see the 'rise'… expected from lower interest rates since the Fed's September 18 cut,” predicting in a note seen by The Block that the market may be waiting for more… Sustainable stability before that. Take a big step.

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Forbes'Strap In' – Dire warning of $40,000 Bitcoin price collapse issued as Fed suddenly braces for US dollar 'crisis' expected to lead to 'total collapse'

The price of Bitcoin exceeded $70,000 per bitcoin this year, with the help of Donald Trump, the Fed… [+] Wall Street reserve giants including BlackRock and JPMorgan.

Forbes digital assets

Despite Elon Musk's concerns about America's out-of-control debt pile, Musk doubled down on his support for Trump during a rally in Butler, Pennsylvania, the site of Trump's first assassination attempt in July.

Trump now leads Harris by six percentage points in cryptocurrency company Polymarket's electoral contract, 52% to 46%.

Meanwhile, billionaire investor Mark Cuban has raised Trump's plan to pay off the US national debt with bitcoin or cryptocurrencies, and Musk's Doge-backed government efficiency run.

“We don't know what Elon is actually going to do,” Cuban said during an appearance on the All-In Podcast alongside fellow investors David Friedberg, Chamath Palihapitiya, Jason Kalakanis and David Sachs, in response to a question about how the U.S. could begin to address its debt pile. Huge.

“maybe [he’ll] “Put Doug in the closet, who knows, and that's how we make everything,” Cuban joked, referring to Elon Musk's on-again off-again relationship with Bitcoin-based rival Dogecoin.

Earlier this year, Trump floated the possibility of using Bitcoin to pay off the US's $35 trillion debt pile.

“Cryptocurrencies are a very interesting thing,” Trump told Fox Business in August. “Maybe we'll pay them $35 trillion, hand them a little check in crypto, right? We'll hand them a little bitcoin and wipe out our $35 trillion.”

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