David Bailey, CEO of bitcoin Magazine, has publicly announced his collaboration with Donald Trump's campaign to forge a cryptocurrency-friendly agenda, which could shape future US policy on digital assets. Using social media platform x, Bailey detailed his direct involvement in crafting a strategic vision for btc and other cryptocurrencies under a potential Trump administration.
A $100 million war chest for bitcoin
Exterior wall twitter.com/DavidFBailey/status/1789141605544538467″ target=”_blank” rel=”noopener nofollow”>Announced, “Over the last month we have been working with the Trump campaign to develop their bitcoin and cryptocurrency political agenda. “We proposed a comprehensive executive order for President Trump to sign on Day 1.” This executive order is expected to lay the foundation for a more cryptocurrency-friendly regulatory environment, reflecting the campaign's strategic approach toward digital assets.
Bailey also emphasized the campaign's commitment, stating, “We intend to raise a $100 million war chest for the campaign to ensure the next president of the United States is pro-bitcoin.”
This development follows Trump's recent comments at the Trump Cards nft Gala, where he criticized the current administration's stance on cryptocurrencies. Trump joked: “(Biden) has no idea. But look, he is very against it. “The Democrats are very against it.” Additionally, he aligned himself with pro-cryptocurrency sentiments, stating: “If you like cryptocurrencies in any form, and they come in many different forms, if you are pro-cryptocurrency, you better vote for me.”
Bailey's announcement sparked various reactions within the crypto community. Sweep (@0xSweep), a well-known crypto influencer, commented: “bitcoin doesn't need Trump. Trump needs bitcoin.” Bailey responded by emphasizing the mutual benefits of this alliance, suggesting a strategic partnership rather than unilateral dependence.
Bailey explained the potential impact of a pro-btc presidency, stating: “As bitcoin's trajectory becomes undeniable in this cycle, the establishment is going to fight us tooth and nail. A pro-bitcoin presidency buys us 4 years of status quo at a minimum (maybe more).” This outlook highlights the critical window of opportunity for the bitcoin and cryptocurrency community to solidify its position within the US financial system.
Addressing the political nuances, Bailey stated: “bitcoin is not a partisan issue, it is apolitical. However, we will mobilize to defend ourselves.” She clarified that the community support is more about opposing the current administration than an outright endorsement of Trump, saying, “We didn't vote for Trump per se, we voted against Biden. The only one to blame for this is Biden.”
Bailey also made a bold statement about the community's political influence: “It's time for bitcoin to elect the next president of the United States.” This statement underscores the growing recognition and potential influence of digital currencies in American electoral politics.
The dialogue between Trump, Bailey, and the broader cryptocurrency community suggests a significant shift in the political landscape related to digital assets. As the US presidential election approaches, candidates' btc policies could become a critical issue in winning the election, influencing not only the future of the regulatory landscape but also broader acceptance and integration. of digital currencies in the US economy
At the time of publication, btc was trading at $60,896.
Featured image from Euronews, chart from TradingView.com
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