Bitcoin Magazine CEO David Bailey has publicly announced his collaboration with Donald Trump's campaign to craft a crypto-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 Bitcoin and other cryptocurrencies under a potential Trump administration.
A $100 Million War Chest for Bitcoin
Billy Announce“Over the past month we have been working with the Trump campaign to develop their Bitcoin and cryptocurrency policy agenda. We have proposed a comprehensive executive order for President Trump to sign on day one.” This executive order is expected to lay the foundation for a more favorable regulatory environment for cryptocurrencies, reflecting the strategic approach. To campaign towards digital assets.
Bailey also stressed the campaign's commitment, saying: “We intend to raise $100 million for the campaign to ensure that the next president of the United States is pro-Bitcoin.”
This development comes on the heels of Trump's recent comments at the Trump Cards NFT Gala, where he criticized the current administration's stance on cryptocurrencies. “(Biden) has no idea,” Trump said sarcastically. But look, (he's) very opposed to it. Democrats are vehemently opposed to that.” He also joined the pro-crypto sentiment, noting, “If you like crypto in any way, and they come in many different forms, and if you're in favor of crypto, you better vote for me.”
Bailey's announcement sparked a variety of reactions within the cryptocurrency community. “Bitcoin doesn't need Trump. Trump needs Bitcoin,” commented Sweep (@0xSweep), a well-known cryptocurrency influencer. Bailey responded by emphasizing the mutual benefits of this alliance, and proposed a strategic partnership rather than unilateral subordination.
Bailey explained the potential impact of a pro-Bitcoin presidency, saying: “As Bitcoin's trajectory becomes undeniable this cycle, the establishment will fight us tooth and nail. A pro-Bitcoin presidency buys us at least 4 years of status quo (and probably more).” This perspective highlights a critical opportunity for the Bitcoin and cryptocurrency community to strengthen its position within the US financial system.
Addressing the political nuances, Bailey emphasized that “Bitcoin is not a partisan issue, it is apolitical. However, we will mobilize to defend ourselves.” He explained that community support is more about opposition to the current administration than outright endorsement of Trump, saying: “We “We are not voting for Trump per se, we are voting against Biden.” The only person who bears responsibility for this is Biden.
Bailey also made a bold statement about the political influence of the community: “It is time for Bitcoin to elect the next president of the United States.” This statement underscores the growing recognition and potential influence of cryptocurrencies in US electoral politics.
The dialogue between Trump, Bailey, and the broader cryptocurrency community signals a major shift in the political landscape regarding digital assets. As the US presidential election approaches, candidates' Bitcoin policies could become a pivotal issue for winning the election, impacting not only the future of the regulatory landscape but also the broader acceptance and integration of cryptocurrencies into the US economy.
At press time, Bitcoin was trading at $60,896.
Featured image from Euronews, chart from TradingView.com