As former U.S. President Donald Trump prepares to address the Bitcoin Nashville conference on July 27, analysts at Bernstein are closely watching seven key crypto stocks and have suggested the market hasn’t yet priced in the possibility of Trump becoming president again.
In a recent note, the research firm shared a bullish outlook for the crypto sector, pointing to significant growth potential for select companies amid an improving regulatory environment, as Decrypt first reported.
Led by Gautam Chhugani, the Bernstein team argues that the market has yet to fully account for the positive regulatory shift that could occur if Trump were be reelected in November.
They anticipate substantial investment from institutional players moving into crypto and related stocks if Trump wins, as the former President has been showing an increasingly pro-crypto stance, even vowing to support the space last month via his social media platform Truth Social.
Earlier, Trump’s campaign unveiled a fundraising page allowing cryptocurrency donations through the Coinbase Commerce platform, in an initiative that represents the first instance of a major party presidential nominee accepting crypto donations.
The former U.S. President has also picked Ohio Senator JD Vance, a crypto-friendly former venture capitalist who holds between $100,000 and $250,000 in Bitcoin on cryptocurrency exchange Coinbase, as his Vice President.
Per Bernstein several companies in the cryptocurrency space could benefit from Trump’s reelection including Riott Platform, which holds $600 million in Bitcoin and raised $500 million to develop its 1-gigawatt Corsicana site in Texas and CleanSpark, which aggressively expanded its hash rate from 10 exahashes per second (EH/s) to 20.4 EH/s this year.
The team of analysts also pointed out Robinhood, the commission-free trading platform, could double its revenue within the next two years, with over 70% of its growth being fueled by cryptocurrency transaction revenues. The firm notably recently acquired Bitstamp for $200 million.
They also pointed to MicroStrategy, the largest corporate holder of Bitcoin with 226,331 BTC worth over $14.5 billion on its balance sheet, as another firm that could benefit from growing crypto adoption.
Notably Robert Kiyosaki, the highly successful author of the “Rich Dad Poor Dad” series of personal finance books, has recently suggested the flagship cryptocurrency Bitcoin will along with gold and silver, see its price rise “when Trump becomes President again.”
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