The next is a visitor submit by Kadan Stadelmann, CTO of Komodo Blockchain.
After weeks of a neck-to-neck presidential marketing campaign between the Democratic and Republican nominees, Donald Trump’s odds of being elected to President of the US are on the rise. Based on betting market Polymarket, Trump leads Democrat candidate Kamala Harris by a whopping 30-plus factors on the time of writing.
Regardless of Harris incorporating crypto into her marketing campaign, with the assistance of Mark Cuban, the Presidency appears to be slipping away from the present Vice President.
Trump has not introduced up Bitcoin in a big marketing campaign occasion in a number of months. There are quite a few prospects for Trump to courtroom votes among the many Bitcoin group by placing forth a Bitcoin plan with the intention of paying down the nationwide debt.
Trump Ought to Recommit To Bitcoin
For instance, it’s time for Trump to disclose his intention of holding Bitcoin as a nationwide strategic asset. He ought to define an in depth Bitcoin coverage, highlighting his plan to scoop up 20% of the Bitcoin provide or about 4 million bitcoins. He ought to place this as a technique to pay down the nationwide debt. To take action will take an aggressive Bitcoin technique. Trump ought to define it. Harris may do the identical, however she is unlikely to take action.
Regardless of a foray into the world of DeFi to the chagrin of Bitcoin maximalists, Trump has demonstrated an understanding of how Bitcoin may be utilized on the nation-state degree.
Whereas asserting his nationwide debt plan, he can extol all of the totally different virtues of Bitcoin and the way it can profit the nation.
For instance, he has said that, in his view, Bitcoin miners assist to stabilize the vitality provide and the grid. He dedicated to being an advocate for miners from his seat within the Oval Workplace. Trump posted on social media:
“Bitcoin mining could also be our final line of protection towards a CBDC,”
He added:
“Biden’s hatred of Bitcoin solely helps China, Russia, and the Radical Communist Left. We would like all of the remaining Bitcoin to be MADE IN THE USA!!! It would assist us be ENERGY DOMINANT!!!”
The previous President, whose marketing campaign has accepted crypto donations, has gone so onerous after the Bitcoin vote, he even pledged on the 2024 Libertarian Social gathering conference to commute Silk Street founder Ross Ulbricht’s double life sentence.
Trump’s marketing campaign rhetoric was early on shared by senior advisor to the Trump administration:
“…crypto innovators and others within the expertise sector are beneath assault from Biden and Democrats” and “whereas Biden stifles innovation with extra regulation and better taxes, President Trump is able to encourage American management on this and different rising applied sciences.”
Trump, to make certain, doesn’t view crypto as foreign money nor has he voiced any help for Nayib Bukele’s Bitcoin authorized tender legislation. That ought to change.
Trump has a golden alternative to be proactive and introduce coverage as a part of a marketing campaign technique to get elected. He ought to announce a plan to accumulate a considerable quantity of Bitcoin with the intention of paying down the nationwide debt.
Trump ought to assure the suitable to self-custody and create a working group to discover the potential for making a Bitcoin Commonplace much like the classical gold commonplace. The U.S. may nonetheless create {dollars}. They’d simply should be pegged to Bitcoin.
With the election just one week out, Trump can fire up additional pleasure with a transparent Bitcoin coverage: pledging to carry 20% of all Bitcoin in provide.
