Former President Donald Trump has made a bold pledge to counter President Joe Biden’s alleged anti-crypto stance, vowing to protect Bitcoin and other cryptocurrencies. Trump also promised to free Ross Ulbricht, the founder of the Silk Road marketplace, as part of his 2024 presidential campaign.
Key Takeaways
- Trump accuses Biden of attempting to kill the U.S. crypto industry.
- Trump promises to protect Bitcoin and other cryptocurrencies.
- Trump pledges to free Ross Ulbricht, founder of the Silk Road marketplace.
- Trump has shifted from being a Bitcoin skeptic to a crypto supporter.
- The political landscape around crypto is changing ahead of the 2024 elections.
Trump’s Accusations Against Biden
Donald Trump has accused President Joe Biden of trying to destroy the U.S. cryptocurrency industry. In a post on Truth Social, Trump claimed that Biden wants Bitcoin and other cryptocurrencies to "die a slow and painful death." He emphasized that under his leadership, the U.S. would become a global leader in the crypto space.
"Our country must be the leader in the field," Trump stated. "There is no second place. Crooked Joe Biden, on the other hand, the worst president in the history of our country, wants it to die a slow and painful death. That will never happen with me."
A Shift in Trump’s Stance
Trump’s recent statements mark a significant shift from his earlier skepticism towards cryptocurrencies. In 2021, he had expressed distrust of Bitcoin and other digital assets, advocating for strict regulations. However, his stance has evolved, particularly after the success of his Trump-branded NFT trading cards.
"I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry," Trump wrote on Truth Social.
Political Implications
The political landscape around cryptocurrency is rapidly changing as the 2024 elections approach. Trump’s pro-crypto stance contrasts sharply with Biden’s alleged opposition. This shift is influencing voter sentiment and could play a crucial role in the upcoming elections.
Shark Tank billionaire Mark Cuban has warned that Biden’s opposition to crypto could cost him the 2024 election. Meanwhile, Galaxy Digital CEO Mike Novogratz predicts that crypto prices will rise due to the political sea-change.
Legislative Developments
The U.S. House of Representatives recently passed the Financial Innovation and Technology for the 21st Century Act (Fit21), which aims to split cryptocurrency regulation between the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC). The bill received bipartisan support despite opposition from the Biden administration.
Freeing Ross Ulbricht
In addition to his pro-crypto promises, Trump has pledged to free Ross Ulbricht, the founder of the Silk Road marketplace. Ulbricht is currently serving a double life sentence for his role in operating the darknet market. Trump’s promise to pardon Ulbricht is likely to garner support from libertarian and pro-crypto voters.
Conclusion
Donald Trump’s recent declarations signal a significant shift in the political landscape surrounding cryptocurrency. As the 2024 elections approach, his pro-crypto stance and promise to free Ross Ulbricht could influence voter sentiment and reshape the future of the U.S. crypto industry.
Sources
- Donald Trump Pledges to Stop Biden’s Anti-Crypto Agenda, Protect Bitcoin, Free Ross Ulbricht – Featured Bitcoin News, Bitcoin.com News.
- ‘A Slow And Painful Death’—Donald Trump Accuses Joe Biden Of Trying To Kill Bitcoin And Crypto, Forbes.
- Donald Trump, once a Bitcoin skeptic, declares support for crypto in Truth Social post | The Block, The Block.
