Former President Donald Trump is doubling down on his pro-bitcoin stance, arguing that the United States must lead in bitcoin and cryptocurrencies or risk being left behind. Trump has become a strong supporter of bitcoin during his 2024 election campaign.
Trump became the first US president to accept bitcoin lightning payments and oppose central bank digital currencies. During the election campaign, he promised to keep regulators away from bitcoin if he is elected.
Yesterday in Wisconsin, Trump further declared that he will “end Joe Biden's war on cryptocurrencies” to secure the future of the United States. He added new comments: “We will make sure that the future of cryptocurrencies and the future of bitcoin is made in America, otherwise other countries will have it.”
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ONLY IN: Donald Trump says "To further secure America's future and create opportunities for young people, I will end Joe Biden's war on cryptocurrencies."
"We will ensure that the future of cryptocurrencies and the future of twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin will be manufactured in the United States; Otherwise, other countries will… pic.twitter.com/NmmM2J3kIq
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1803182597062668299?ref_src=twsrc%5Etfw”>June 18, 2024
This marks a change. Trump explicitly states that he wants the United States to lead in bitcoin; otherwise, rivals will surpass him.
Trump's adoption of bitcoin reflects bitcoin game theory. As bitcoin becomes too popular to ban, politicians realize they must support it to court pro-bitcoin voters.
The United States risks falling behind in the technological and financial race if it avoids bitcoin and crypto innovation. Trump understands that the United States must lead in this new and critical area.
Whether sincerely supportive or opportunistic, Trump captures political capital from bitcoin. He knows that supporting bitcoin can win votes, while attacking it risks alienating a passionate base.
Other nations are pursuing pro-bitcoin policies to attract economic growth and talent. To remain competitive, the United States must become a welcoming center for bitcoin and cryptocurrency developments.
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