As former President Donald Trump prepares for campaign appearances in front of pro-crypto and Bitcoin crowds, one tech investor and Silicon Valley insider is explaining why the Republican nominee could churn a crypto renaissance.
"President Trump and JD Vance are going to be the first crypto presidency and the first crypto administration," Sherpa Capital and Edisonalpha founder and CEO Shervin Pishevar said on "Mornings with Maria" Tuesday, "as opposed to Biden and Harris' activists that they've appointed all over the government."
"Including in the FCC and the SEC and the FDA," he listed, "where they've appointed these activists that have really hurt our economy and caused so many problems for so many innovative companies."
Pishevar, whose venture capitalist group has helped jumpstart companies like Airbnb, Uber, GoPuff, Postmates, Slack and Robinhood, believes a Trump-Vance administration could lead the way in the cryptocurrency and tech sectors.
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"We think there's going to be Manhattan projects for A.I., for biotech, for defense tech, and really rebuild America. 2.0," the founder and CEO said. "And all of the smartest people, including Elon Musk, David Sacks, Ken Howery, everyone has come out for President Trump."
"We need innovation. We need new jobs. We need new thinking. Inflation is out of control. Fiscal policy is out of control," he continued. "And at the same time, as we see, the world is becoming more and more dangerous under a Biden-Harris administration."
This weekend, Trump is holding a private fundraiser for his campaign at Bitcoin 2024 in Nashville this month, and attendees will have to shell out a reported $844,600 per person for a roundtable seat at the VIP reception, which comes with a photo taken with the Republican presidential nominee. Just to attend the reception and take a snap with Trump will set donors back $60,000, or $100,000 per couple.
Trump said in May that he would, if elected, end the "hostility" the crypto industry has faced from Biden regulators and Democrat lawmakers. Then last month, Trump offered a strong endorsement of bitcoin, claiming the cryptocurrency will help the U.S. become "energy dominant."
The tech investor pointed out a "major shift" he’s seen in Silicon Valley leadership and their political alignment.
"If you look at Marc Andreessen and Ben Horowitz' podcast last week when they announced that they're endorsing President Trump and JD Vance, it was very telling," he said.
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"These are the inventors of the internet… Our smartest minds can't even get a meeting inside the Biden-Harris administration. This is how anti-business they have become. It's unheard of," Pishevar added.
"Whereas, Trump is embracing the intellectual minds and the smartest minds in our country that want to create American dynamism and secure our national security."
FOX Business’ Breck Dumas contributed to this report.
