Former President Donald Trump Trump has stepped up his support for Bitcoin, arguing that the U.S. must take the lead on Bitcoin and cryptocurrencies or fall behind. Trump emerged as a staunch supporter of Bitcoin during the 2024 election campaign.
Trump became the first president of the United States Accepts Bitcoin Lightning He is opposed to Bitcoin payments and central bank digital currencies, and during his campaign he promised to steer regulators away from Bitcoin if elected.
Yesterday in Wisconsin, Trump added: Joe Biden’s He vowed to “fight cryptocurrency” to secure America’s future, adding in new comments that he would “make sure the future of cryptocurrency and Bitcoin is made in America, or other countries will get it.”
Update: 🇺🇸Donald Trump says "To further secure America’s future and create opportunity for our young people, I will end Joe Biden’s war on cryptocurrency."
"We are the future of cryptocurrency #Bitcoin It will be made in America, or some other country… pic.twitter.com/NmmM2J3kIq
— Bitcoin Magazine (@BitcoinMagazine) June 18, 2024
This signals a change: Trump has made it clear that he wants the U.S. to take the lead in bitcoin, or else its rivals will overtake it.
Trump’s support for Bitcoin reflects Bitcoin’s game theory: Bitcoin is too popular to ban, so politicians realize they must support it to win over pro-Bitcoin voters.
If the U.S. shys away from Bitcoin and cryptocurrency innovation, it risks falling behind in the tech and financial race, and Trump understands that the U.S. must take the lead in this important new arena.
Whether he is a wholehearted supporter or an opportunist, Trump understands Bitcoin’s political capital: He knows that supporting it can win him votes, but attacking it risks losing its most ardent supporters.
As other countries pursue pro-Bitcoin policies to attract economic growth and talent, the U.S. must become a welcoming hub for Bitcoin and cryptocurrency development to remain competitive.
