One in four Americans king Bitcoin.
this more Americans over 65, but how often do you hear candidates talk about the concerns of seniors compared to the concerns of cryptocurrency owners?
President Donald Trump has made a concerted effort in the 2024 election campaign to attract Bitcoin users.
At the recent Libertarian National Convention, President Trump pledged to “stop Joe Biden’s campaign to crush cryptocurrencies,” and specifically assured Bitcoin holders that he supports the right to self-policing.
“I say this with your vote, I will keep Elizabeth Warren and her followers off of your Bitcoin, and I will never allow the creation of a central bank digital currency,” President Trump said.
The candidate in November will clearly be the best choice for Bitcoin holders and the entire industry – President Trump. He seems to see the wisdom of pro-Bitcoin stances taken by famous leaders around the world, like Presidents Javier Mercy Argentina and Naib Watch this El Salvador
Accordingly, he takes a clear position.
Trump recognizes our right to self-sovereignty, and perhaps no one understands the value of decentralization better, as people begin to lose confidence in institutions like government and banks. Trump has been the target of an unprecedented legal war to politicize the justice system, and Trump-affiliated organizations have been unbanked and deplatformed.
Meanwhile, it's just President Biden It was overturned Legislation that would have guaranteed a customer's right to have their preferred regulated financial institution hold Bitcoin or other digital assets was – laughably – in the name of “consumer protection”.
The Biden administration has been unusually hostile to Bitcoin as well as the broader cryptocurrency ecosystem. Management launched “Operation Choke Point 2.0” Regulators effectively set new rules through a press release directing banks to stop dealing with companies in the digital asset space. Moreover, the White House proposed A 30 percent tax on the energy used to mine Bitcoin, which would make it completely unprofitable and uneconomic for the industry to do business in the United States. The Department of Energy has also attempted to collect information regarding Bitcoin miners. Energy contracts As a step towards organizing their exit from work. The Justice Department even went against long-standing Treasury Department guidance when it tried to regulate Via court file Let's say that self-hosted wallets should be treated as money transfer companies. This is all by design. They want to effectively ban this industry.
It all makes sense when you consider that the Biden administration did too The foundation is laid Central bank digital currency.
Some politicians support the creation of a central bank digital currency (CBDC) because they want complete control. They want to be able to track our transactions and tell us how we can or cannot spend our money. Bitcoin represents the polar opposite: liberation from government-led collectivism and the empowerment of the individual.
To be clear, there are many pro-Bitcoin leaders in the Democratic Party, such as Senator Kirsten Gillibrand and Representatives Ritchie Torres and Willie Nickel, to name a few. More than 70 House Democrats recently voted in favor of market-friendly legislation. But there must be more.
President Biden has turned over his administration on these issues to the self-proclaimed “anti-crypto” Senator Elizabeth Warren and her aides. This has given rise to policies that mirror the Chinese Communist Party's approach to Bitcoin, and anything the ruling party doesn't approve of: cutting off financial services, trying to cut off access to energy in the name of protecting the environment, imposing impossible market regulations, and essentially blocking access to energy. Everything they can to cripple the Bitcoin network as they work towards the ultimate tool to control their population: the CBDC.
Senator Warren herself has even proposed legislation that would effectively ban Bitcoin mining in the United States by treating miners like financial institutions by requiring anti-money laundering standards despite the fact that miners do not hold any assets for customers. As you well know, if there were no Bitcoin miners, there would be no Bitcoin transactions, and the path to Central Bank Digital Currency (CBDC) would be much easier without any special alternatives.
The good news for Bitcoin users in November is that they have a clear alternative. This is crucial because one huge-A third of voters They say they are studying candidates' opinions on which digital assets to choose in the election.
The choice is clear. President Trump will protect your right to own Bitcoin, mine Bitcoin, transact Bitcoin, and for many of us, work in the Bitcoin industry. We believe it will support Bitcoin miners' ability to help revolutionize the U.S. finance and energy industries and maintain America's economic leadership for the future. It will ban central bank digital currencies, protect self-custodialism, and prevent out-of-control regulators from trying to put us out of business. If you're a Bitcoiner, President Trump is the best candidate this year to, dare I say it, make Bitcoin great again in the eyes of the US government.
Brian Morgenstern is the Head of Public Policy for Riot Platforms. He previously served as Deputy Assistant Secretary of the Treasury and Deputy White House Press Secretary.
This is a guest post by Brian Morgenstern. The opinions expressed are entirely their own and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.