Crypto Politics: Trump and Kennedy’s Bitcoin Plans
The Bitcoin 2024 conference in Nashville saw some big names make bold statements about cryptocurrencies.
Trump’s Crypto Vision
Donald Trump, the Republican presidential candidate, promised to make the US the “crypto capital of the world” if elected. He likened Bitcoin to the early days of the steel industry and praised the Bitcoin community.
“If crypto is going to define the future, it’s going to be mined, minted and made in America. If Bitcoin is going to the Moon, as they say, I want it to be America that sends it there. ”
Kennedy’s Ambitious Bitcoin Reserve
Robert F. Kennedy Jr., an independent presidential candidate, also made waves with his proposed Bitcoin policies. He proposed using an executive order to move the Federal Reserve’s 204,000 Bitcoins into a strategic reserve. He also promised to have the Treasury Department purchase 500 BTC every day until the reserve reached 4 million BTC.
If this plan were to materialize, the US government would own about 20% of all Bitcoin.
Snowden’s Warning
Edward Snowden, the whistleblower and privacy advocate, offered a more cautionary note. He warned against using Bitcoin for political purposes and cautioned the audience not to join a “cult”.
“Cast a vote, but don’t join a cult,” he said. “Politicians who use their support for Bitcoin and cryptocurrency as a campaign issue are not our tribe.”
It remains to be seen how the US government will handle cryptocurrencies in the future. The promises made by Trump and Kennedy, and the warning from Snowden, will likely influence the debate.
