It never stops surprising me just how much the cryptocurrency ecosystem has changed, especially political figures' stances on Bitcoin. I've been keeping up to date with recent news and rumors regarding former President Donald Trump's alleged attitude shift toward being more pro-Bitcoin, and I can't help but be skeptical.
While it is a fact that opinions can easily change as people become educated about crypto, I believe there's more to this story than what anyone has seen. Trump, with a background in finance and good connections to financial institutions, doesn't strike me as one to suddenly favor Bitcoin without an ulterior motive. I think that this newfound interest is more of a calculated move to woo crypto-enthusiastic voters than it is a change of heart.
Looking at Trump's economic policies during his presidency, particularly the massive money printing during the COVID-19 pandemic, I find it hard to reconcile with Bitcoin's core principles.
In my view, a large part of the time, politicians say things that they feel the electorate wants to hear, however, the actual case is very different once they get elected. So, from that aspect, it becomes very critical for voters to see beyond the pre-election promise rhetoric and actually evaluate how leaders undertake things.
It's because both major political parties have contributed to our current economic challenges through excessive spending and money creation against what Bitcoin stands for. Comparing Trump's apparent Bitcoin endorsement to someone like Michael Saylor, the difference is striking. It is in how Saylor has really deep-dived into the understanding of Bitcoin and how he's willing to stake his financial future on it, what it looks like to really believe. I don't see that type of commitment coming from Trump or most of the other politicians riding the crypto bandwagon. In my understanding, this trend of political figures overnight becoming Bitcoin zealots is more about chasing votes than a sea change in economic ideology.
In my opinion, voters and crypto fans alike should be more wary of political endorsements. Sure, it's very exciting to see Bitcoin hitting the mainstream spotlight; I believe we ought to be wary of 'fair-weather friends' in high places. True adoption and understanding of cryptocurrency principles require more than lip service.
With election season heating up toward 2024, I fully expect that we'll begin to see more politicians attempting to court the crypto vote. My advice? Look at what they've done, not what they're saying in their tweets or sound bites. The future of digital currency is far too important to be handled by those who view it as another political tool to be wielded for votes.
