In his take from this Monday, Nikolaus argued that Donald Trump is very pro-Bitcoin. I beg to differ.
Yes, Trump is paying lip service to Bitcoiners, which is more than we can say about Kamala Harris. The fact that you spoke at the Bitcoin conference is certainly interesting, and at least it shows that you are aware of the “crypto voter” as a possible way to vote. And yes, Trump did make an appearance at PubKey, which was a fun little experience—even though he obviously couldn’t pay himself.
But it is obvious that he wants your money and your vote. Of course, the same can be said for many politicians, but if anything, Trump is the most extreme example of this. He’ll screw you up if he has to, whether it’s for these ridiculous NFTs, or whatever his new shitcoin project is supposed to be.
I am not at all sure that Trump will continue to be a Bitcoin ally if he is elected for a second term. Even at Bitcoin 2024, his closing remarks—“enjoy your crypto, and Bitcoin, and all the other things you play with”—made it clear that he doesn’t actually care about Bitcoin in any real way. Indeed, just a few years ago, Trump said that “he is not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is very volatile and based on thin air”.
Right now, Trump needs your money and your vote—but he won’t need that anymore after he’s elected. Even if you want to take his “miners get all the electricity they need from mining” seriously, is there any reason to believe he won’t throw Bitcoin under the bus when it’s in his favor… apparently, in favor of the dollar?
Given Trump’s record of breaking campaign promises during his first term, I wouldn’t have expected anything else.