Former President Donald Trump is hardening his pro-Bitcoin stance, arguing that the United States must lead in Bitcoin and cryptocurrencies or risk being left behind. Trump emerged as a strong advocate for Bitcoin while campaigning for the 2024 election.
Trump has become the first US president to accept fast Bitcoin payments and oppose central bank digital currencies. During his election campaign, he promised to keep regulators away from Bitcoin if elected.
Yesterday, Trump also announced in Wisconsin that he would “end Joe Biden’s war on cryptocurrencies” to secure America’s future. He added new comments, saying: “We will ensure that the future of cryptocurrencies and the future of Bitcoin will be made in America, otherwise other countries will get it.”
Just in: 🇺🇸 Donald Trump says "In order 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 crypto and the future #Bitcoin It will be manufactured in America, otherwise other countries will manufacture it. pic.twitter.com/NmmM2J3kIq
— Bitcoin Magazine (@BitcoinMagazine) June 18, 2024
This represents a shift. Trump has explicitly stated that he wants the United States to be a leader in Bitcoin; Otherwise, competitors will overtake him.
Trump's embrace of Bitcoin reflects Bitcoin game theory. As Bitcoin becomes too popular to ban, politicians realize they must support it to attract pro-Bitcoin voters.
The United States risks falling behind in the technological and financial race if it avoids Bitcoin and cryptocurrency innovation. Trump realizes that the United States must lead in this important new area.
Whether Trump is a sincere supporter or opportunist, he absorbs Bitcoin's political capital. He knows that supporting Bitcoin can win votes, while attacking it risks alienating an ardent base.
Other countries are pursuing pro-Bitcoin policies to attract economic growth and talent. For America to remain competitive, it must become a welcoming hub for Bitcoin and cryptocurrency developments.
