Politics is always a minefield, and everything politicians say has a long-term objective. Whether this objective is related to the people? Hmm, it's not very clear, especially when politicians are campaigning for presidential elections.
Every politician aiming for power has a card up their sleeve to convince the electorate that they are the best for the position and always says what the electorate wants to hear. But, fulfilling this promise after winning the elections is another matter. For example, in 2016, Donald Trump said loudly that he would pardon Julian Assange and Edward Snowden during his presidential campaign, but once he took power, he never fulfilled the campaign promise.
Today, almost ten years later, the same Trump publicly says he will pardon Ross Ulbricht for the crimes he is serving in the first week in power. Whether this is true is still too early to know, and it also depends on whether he will win the presidential elections. But the past is not favorable to him when it comes to keeping promises. This, however, does not guarantee that he will not fulfill it, but it is necessary to see to believe that such a fact will be achieved.
Today, the same Trump has changed his approach to the cryptocurrency industry and loudly says, "he will do everything to ensure that Americans freely own cryptocurrencies" and even started receiving donations for his campaign in Bitcoin. Trump accepts Bitcoin donations via Lightning Network for his campaign, a gesture to garner support from crypto investors who have long been eager to use their portfolios to help Donald Trump with his campaign.
Donald Trump had to change his approach to the cryptocurrency industry because his campaign advisors see a future in this market, but as a businessman, he certainly has limitations in the field. Trump is already advanced in age and certainly does not see the market with good eyes; after all, he made all his fortune based on traditional industry and never needed to invest in cryptocurrencies. In other words, everything he has was based on the dollar, but times change, as does his approach to winning the electorate.
Trump changed because he needs to return to power in the United States of America and will do everything in his power to achieve the chair he so desires. He is an experienced politician, and by "selling" his campaign and saying what the electorate wants to hear to secure the vote, he is one step closer to power. Trump is smart, intelligent, and knows that appealing to the crypto and Blockchain ecosystem to secure votes is the best path for his campaign, especially because the older population does not see, for example, a president who was accused and found guilty of the crimes he committed when involved with the famous prostitute case in his last election.
Young people and Libertarians are the strong points of Trump's campaign: the appeal to the crypto and Bitcoin industry as well as the pardon for Ross Ulbricht for the crimes he was accused of and is serving two life sentences for.
Now, Biden's issues are even more concerning. First, because he is already old, much older than Trump, and much less inclusive in his policies. Joe Biden has always shown that he is not favorable to the crypto industry and leans more towards the creation of a central currency, the Central Bank Digital Currency (CBDC). This is seen not only by his government's institutions like the SEC but also by representatives in the Senate who are part of the Democratic Party. One of the biggest opponents of Bitcoin is Elizabeth Warren.
For Biden, Bitcoin does not work for American policy, and he will do everything to prevent the country from having a Bitcoin standard. However, because the opposition for the presidency in the US is stronger and Trump is increasingly focused on involving this industry in the American economy, Biden will try at all costs to "pretend" to embrace the industry as a way to sway public opinion in his favor and also his party's. But will this work?
For me, no. Because if he wants to make a favorable approach to Bitcoin, he should at least change his official lineup, like Gary Gensler at the SEC, who is uncompromising with his policies towards the crypto industry. Many crypto businesses have fled the United States because the regulatory institution never facilitated their work, and those that remained face significant challenges to continue operating in the country. The strange thing is that the crypto industry doesn't even have laws governing it yet, still based on traditional laws operating in the country since 1930.
Therefore, both Bidenomics and Trumpnomics have political ends and cannot yet be considered tangible benefits for the people's well-being. Politicians are cunning, and when they want votes, they sell their bread in a way that everyone buys. Now, whether it will be served as promised is another story. One thing is certain: Trump has changed his public opinion regarding Bitcoin and Blockchain technology, while Biden remains steadfast in his CBDC policy.
It is politics, and in politics, there are hardly clear rules. What matters is the end, not the means used to win an election. The people can then demand implementation, but it is up to the president, if they want to run for another election and win, to fulfill the manifesto. I doubt both Trump's and Biden's policies. But who knows, they might still surprise us.
Remember:
Content is KING.
Support this blog to incentivize my daily writings and to keep pace with all happenings in crypto: share, comment, tip ; after all, creators depend on sponsors donations to succeed.