Is Donald Trump’s Recent Crypto-Friendly Stance Genuine Or Opportunistic? Experts Weigh In
Presidential candidate Donald Trump recently expressed his backing for crypto, indicating that he would cease hostility towards crypto in the US if he were to be re-elected.
“If we’re going to embrace it, we have to let them be.” He also told the audience that if they like crypto, “you better vote for Trump.”
Previously, Trump openly criticized Bitcoin and other cryptocurrencies. In July 2019, he described them as “not money” and condemned their volatility and absence of intrinsic value. Additionally, he contended that these assets could facilitate illegal activities such as drug trafficking.
According to Coinbase, about 20% of American adults, or over 50m individuals, claim to hold crypto. Markus Levin, co-founder of XYO Network, said that this substantial figure has undoubtedly captured the attention of the candidates.
“To embrace crypto and solid crypto regulation is a good election strategy and clever policy more generally,” he said. “Absolutely, a sizable number of people in the crypto community will vote for Trump based on his seemingly positive approach towards the industry.”
Meanwhile, Jonathan Thomas, CEO of prime brokerage Blueberry, asserted that Trump’s crypto-friendly stance will influence voters prioritizing crypto as a single-issue matter.
“This is an aspect that some people hold dear to their hearts, and will vote for which candidate supports their bias,” he said. His crypto-friendly talk will resonate with crypto enthusiasts, but only if it doesn’t clash with other issues they care about even more, he added.
NFT enthusiast Thorne Melcher labeled Trump’s recent endorsement as “flimsy.” She noted it marks a significant departure from his previous negative remarks.
“Given crypto’s potential to facilitate the
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