1 in 4 Americans Own Bitcoin.
it is more There are more Americans over 65 than cryptocurrency owners, but how often do we hear candidates speak about the concerns of seniors versus the concerns of cryptocurrency owners?
President Donald Trump is going all out to appeal to Bitcoin supporters during the 2024 election campaign.
At the recent Libertarian National Convention, President Trump vowed to “stop Joe Biden’s crypto-crushing campaign” and specifically stated his support for the right of Bitcoin holders to self-control.
“With your vote I say this: I will keep Elizabeth Warren and her cohorts out of your Bitcoin, and I will never allow the creation of a central bank digital currency,” Trump said.
Of the candidates running in November, it is clear that the best choice for bitcoiners and the industry as a whole is President Trump, who seems wise to understand the support for Bitcoin from popular leaders around the world, including US Presidents Xavier and Donald Trump. Milly Argentina and Najib Bukele El Salvador
So he takes a clear stance.
Trump recognizes our self-sovereignty and perhaps more than anyone else understands the value of decentralization as people lose trust in institutions like governments and banks. Trump has been the target of an unprecedented low-fight that has politicized the justice system and organizations associated with Trump have been barred from banks and platforms.
Meanwhile, President Biden Rejected The bill, laughably, would guarantee customers the right to have their Bitcoin and other digital assets stored with their preferred regulated financial institution, in the name of “consumer protection.”
The Biden administration is extremely hostile not just to Bitcoin but to the broader cryptocurrency ecosystem. “Operation Chokepoint 2.0” This resulted in the regulators, through a press release, effectively enacting new rules instructing banks to stop doing business with companies in the digital asset sector. 30 percent tax Restrictions on the energy used to mine Bitcoin would make it unprofitable and completely uneconomical for the industry to operate in the U.S. The Department of Energy also attempted to collect information on the energy consumption of Bitcoin miners. Energy Contracts The Department of Justice sought to violate longstanding Treasury guidelines as a step toward regulating them out of business. Through court filings They are saying that self-hosted wallets should be treated as money transmission businesses. This is all part of the plan. They want to effectively ban the industry.
The Biden administration Laid the foundations For central bank digital currencies.
Some politicians support the creation of CBDC because they want total control. They want to track our transactions and dictate how we spend our money. Bitcoin represents the exact opposite: freedom from government-driven collectivism and individual empowerment.
To be clear, there are plenty of pro-Bitcoin leaders in the Democratic Party — Sen. Kirsten Gillibrand, Rep. Ritchie Torres, and Rep. Wiley Nickel are just a few — and over 70 Democrats in the House of Representatives recently voted in favor of a favorable Market Structure Act, but we need more.
President Biden has ceded control of his administration on these issues to self-described “anti-crypto” forces. Senator Elizabeth Warren and her supportersThe result is the Chinese Communist Party’s approach to Bitcoin and any policy the ruling party does not approve of: cutting off financial services, attempting to cut off access to energy in the name of environmental protection, imposing impossible market regulation, and doing everything they can to disrupt the Bitcoin network while working towards a CBDC, the ultimate tool to control their citizens.
Senator Warren herself has proposed legislation that would treat miners like financial institutions by mandating anti-money laundering standards, effectively banning Bitcoin mining in the U.S., even though miners do not hold customer assets in custody. As she well knows, without Bitcoin miners there would be no Bitcoin transactions, and the path to a CBDC would be much easier without private alternatives.
The good news for Bitcoin users in November is that there is a clear alternative. This is very important because:One-third of voters The company said it was considering candidates’ views on digital assets when making its election choice.
The choice is clear. President Trump will protect our right to own Bitcoin, mine Bitcoin, trade in Bitcoin, and for many of us, work in the Bitcoin industry. We believe he will support Bitcoin miners’ ability to revolutionize the US financial and energy industries and maintain US economic leadership into the future. And he will ban CBDC, protect self-governance, and stop out-of-control regulators from trying to put us out of business. If you’re a Bitcoin user, I dare say President Trump is this year’s best candidate to make Bitcoin great again in the eyes of the US government.
Brian Morgenstern is Head of Public Policy at Riot Platforms and previously served as Deputy Assistant Secretary at the Treasury Department and Deputy Press Secretary at the White House.
This is a guest post by Brian Morgenstern. The opinions expressed here are entirely his own and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.
