At the Libertarian National Convention, Trump pledges to shield Bitcoin holders from Senator Elizabeth Warren’s influence, emphasizing his support for self-custody and opposition to CBDC creation.
Four percent of Americans possess Bitcoin.
Although there are more Americans over 65 than under that number, how frequently do politicians discuss issues about seniors as opposed to those facing cryptocurrency owners?
In an attempt to win over Bitcoin supporters in the 2024 election, President Donald Trump has been working hard.
President Trump promised to “stop Joe Biden’s crusade to crush crypto” at the recent Libertarian National Convention. He also gave Bitcoin holders express assurance that he supports their right to self-custody.
“I say this with your vote, I will keep Elizabeth Warren and her goons away from your Bitcoin, and I will never allow the creation of a central bank digital currency,” President Trump said.
President Trump is without a doubt the greatest option for Bitcoin owners and the sector as a whole come November. He seems to agree with the popular leaders of the world, such as Presidents Javier Milei of Argentina and Nayib Bukele of El Salvador, who have adopted pro-Bitcoin positions.
He is thus clearly establishing his stance.
Trump respects our right to self-governance, and he may be the best person to see the benefits of decentralization given the public’s declining faith in institutions like the government and financial institutions.
Unprecedented police action has been taken against Trump, politicizing the legal system, and debunking and de-platforming organizations connected to him have occurred.
In the meantime, in the laughable name of “consumer protection,” President Biden recently vetoed legislation that would have guaranteed a customer’s right to have their choice regulated financial institution house their Bitcoin or other digital assets.
The Biden administration has shown a great deal of hostility toward Bitcoin and the entire cryptocurrency industry. “Operation Choke Point 2.0” was initiated by the administration, when authorities issued a press release mandating banks to cease their commercial dealings with enterprises operating in the digital asset field. Moreover, the White House suggested imposing a 30 percent tax on the energy used for Bitcoin mining, rendering the industry’s operations in the US unfeasible and unprofitable. Additionally, to put Bitcoin miners out of business, its Energy Department made an effort to gather data regarding the energy contracts of these individuals. In an attempt to regulate through a court petition, the Justice Department even defied long-standing Treasury Department policy by asserting that self-hosted wallets were to be regarded as money-transmitting firms. Everything about this is intentional. They seek to outright outlaw the sector.
When you take into account that the Biden administration has also established the framework for a Central Bank Digital Currency, everything begins to make sense.
Some politicians want total control, which is why they are in favor of the establishment of a CBDC. They desire the ability to monitor our financial transactions and dictate what we are and are not allowed to spend. Bitcoin stands for the exact opposite: individual empowerment and freedom from collectivism enforced by the government.
To be clear, several prominent Democrats, including Sen. Kirsten Gillibrand and Representatives Ritchie Torres and Wiley Nickel, are in favor of Bitcoin.
Recently, the House of Representatives saw over 70 Democrats vote in favor of legislation that would improve market structure. However, a lot more is required.
President Biden has relinquished control of his administration’s handling of these matters to Senator Elizabeth Warren, the self-styled “anti-crypto,” and her followers. This has led to policies that are similar to how the Chinese Communist Party views Bitcoin and anything else that the ruling party finds objectionable. These include attempts to shut down financial services, attempts to impose unfeasible market regulations, attempts to cut off access to energy in the name of environmentalism, and general attempts to hinder the Bitcoin network from getting closer to its ultimate tool of control over the people: a CBDC.
Even since miners do not hold any client assets, Sen. Warren has introduced legislation that would essentially outlaw Bitcoin mining in the US by treating miners the same as financial institutions and enforcing anti-money laundering regulations. She is fully aware that without Bitcoin miners, there would be no Bitcoin transactions, and the road to a CBDC would be considerably simpler in the absence of any private options.
For November, Bitcoin users, there is a definite alternative, which is good news. This is crucial because a staggering 33% of voters claim to be considering candidates’ stances on digital assets when making an election decision.
It’s an obvious decision.
Your rights to possess Bitcoin, mine Bitcoin, conduct Bitcoin transactions, and, for many of us, work in the Bitcoin sector, will all be upheld by President Trump. We think he will back the capabilities of Bitcoin miners to transform the American energy and banking sectors and uphold American economic dominance in the long run. Additionally, he will defend self-custody, outlaw CBDCs, and thwart attempts by uncontrollably aggressive authorities to force us out of business.
If you are a Bitcoin supporter, you should consider President Trump to be the greatest candidate this year to restore Bitcoin’s reputation with the US government.
Recently, GreatGameIndia reported that in a significant gesture of ongoing support for the Bitcoin mining industry, former President Donald Trump met with CEOs from leading US crypto mining companies. He expressed his desire for all Bitcoin production to occur within the United States.
