As I have articulated earlier, I do not believe Donald Trump genuinely cares about Bitcoin; at the very least, he’s a shill looking to capitalize on the ruse. That being said, it is reasonable to assert that Trump embraced a pro-crypto position during his campaign. Indeed, his commitment at Bitcoin 2024 to dismiss Gary Gensler on “day one” of his presidency appears to have already led the SEC chairman to announce his resignation.
An optimistic prospect (as for instance proposed by Trey Walsh) is one where the Democrats similarly adopt Bitcoin into their party agenda. However, considering how many ostensibly neutral subjects become unnecessarily politicized (the COVID vaccines serve as a prime recent illustration of this), I would not be astonished to witness the contrary occur.
As the impending Trump administration prepares to create a regulatory environment that supports unrestricted multicoinery, and with Gary Gensler out of the picture, we may very well observe the most egregious scam coins flourish and rise— before they ultimately collapse. Over the next four years, as individuals experience rug pulls, downsides, and various forms of fraud, I can easily foresee a political reaction from the opposing side that fails to differentiate between Bitcoin and the World Liberty Financials of the world entirely. They could intensify their opposition to all of cryptocurrency, with Bitcoin not being an exception.
Naturally, this is all conjecture; I lack a crystal ball here. However, in a few years, bitcoin enthusiasts might find themselves caught between the extreme views of both prominent American political groups. Nocoiners to my left, shitcoiners to my right, here I am, trapped in the middle with you.
This article represents a Take. The views expressed are solely those of the author and do not necessarily mirror those of BTC Inc or Bitcoin Magazine.
