In a recent speech directed to journalists and hardcore fans who bought his NFT collection, Trump stated that "he's fine with [crypto]", and that if you are in favor of it, you had better vote Trump in the 2024 election.
https://x.com/3orovik/status/1788361810350899695
This came as a bit of a surprise, as it was only a few years ago that Trump stated on Fox News that he did not like Bitcoin because it "seems like a scam" and competes with the US dollar.
It was certainly not an unprecedented conversion. Trump is just the latest well-known figure to change his stance on crypto from negative to positive, reaffirming the continuing trend.
The Motivation
We can only speculate on the reasons why Trump changed his stance on Bitcoin and cryptocurrency, but here are some ideas:
Perhaps his close advisers informed him, after doing hundreds of hours of research, that crypto is the future of money and he would be better off supporting it, instead of taking an aggressive stance towards it, like the Biden administration has done.
The other possibility is that he's merely trying to take votes away from Robert F. Kennedy, who has been pro-crypto throughout his entire campaign, and has been rising in the polls. In fact, RFK just recently made an announcement that he's going to put the entire US budget on blockchain.
Or could it be that Trump has finally realized that the US dollar is nearing extinction as federal debt nears 35 trillion, interest rates are above 5%, with inflation still running hot above the target level.
Trump NFT Collection
Let us not forget that in late 2022, Trump released a set of NTFs on the Polygon blockchain, selling each for $99 to his fans. In typical Trump-fashion he used blockchain technology to increase his popularity with the crypto crowd, which he knows makes up a significant portion of the population.
Plenty of well-known people who were initially dismissive or skeptical of crypto have changed their tune and have started to advocate in favor of it. Even the strongest advocates of Bitcoin had the initial reaction of dismissal and derision before finally acknowledging how important an invention it is.
Impact
Does it really matter if a pro-crypto Trump gets elected president? At this point, no one man can save America given the degenerate state it finds itself in.
As we discussed in the last article, the break-up of the United States is inevitable, as smaller communities and city states form based on the foundation of cryptocurrencies.
Taking into consideration the rapid rate that once anti-crypto people are coming around, it becomes ever more obvious that this industry is only going to grow as time goes on, making it a good candidate for investment.
If you learned something new from this article, be sure to check out my other posts on crypto and finance here on the HIVE blockchain. You can also follow me on InLeo for more frequent updates.
Until next time...
Resources
Trump NFT Image [1]