Initially, Donald Trump was highly suspicious of cryptocurrencies, going back a few years, but he has since changed his mind. He has embraced them, impressing a younger fan base and their deep-pocketed investors.
Hours after meeting with bitcoin miners at his Mar-a-Lago estate in Florida on Wednesday, the former president said on his Truth Social media platform that cryptocurrency users should “vote for Trump!” because he will stand up to “Biden’s hatred of Bitcoin.”
He made that declaration at The Libertarian Party convention of assorted individuals from fans to TDS victims who think conservatives are socialists.
The declaration came after weeks of concerted outreach to crypto enthusiasts and the people leading the burgeoning industry — and it already seems to be paying off. One bitcoin mining executive who met with Trump told CNBC that his industry has committed to raising over $100 million and turning out more than 5 million voters to help Trump this fall.
“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” Trump once said in a series of social media posts in 2019. “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.”
“We have only one real currency in the USA,” Trump continued, “And it will always stay that way. It is called the United States Dollar!”
HE HAS CHANGED HIS MIND
Things have changed since then, especially the value of the dollar. He no longer thinks of Bitcoin as a scam.
Democrats don’t like the edge it gives him with the youth and claim he can’t be trusted. However, if Trump promises something, he does his best to follow through, and he’s a good businessman despite the attacks by lesser people than him.
NBC News denigrated the idea and said the industry has a record of failures and Trump is lining up with the industry.
The industry is growing and is more successful than unsuccessful despite fraudster Sam Bankman-Fried.
At this point, Trump will protect people’s rights to own and trade Bitcoin, and Biden will regulate it to the point of non-existence.
I know nothing about Bitcoin. Is it a Ponzi scheme or something like investing in gold?
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