Trump Likes Crypto: Just As Long As It's For Grifting Trending Global News

When $trump meme The coin toss fell on Friday evening, no one was surprised, or at least, they shouldn’t have been. He has a habit of jumping straight into endeavors that he thinks will make him money in a self-promoting manner, which often ends in disaster. Some of these ventures include Trump Airlines, Trump Vodka, Trump Stakes, Trump University, Trump Magazine, Trump Plaza Hotel and Casino, Trump Mortgage, Trump: The Game. Crypto is the next game in town that it has decided to play its part in.

I have already written articles and spoken at various lengths about Trump’s pandering to the crypto sphere to earn votes in this past election, which was quite successful in many ways. At Bitcoin Nashville last summer, in an effort to drum up support for his presidential candidacy, Trump said some notable things, including that America would become a “T.”That’s the crypto capital of the planet and the world’s Bitcoin superpower,” that he would fire Gary Gensler, and that he wants all remaining Bitcoins to be made in the US (from a decentralized perspective, and highly unreliable in reality). He also famously said that he would commute the sentence Ross Ulbricht On day one, if he does it I’ll be the first one to give credit where credit is due. (For more on this I recommend seeing the recent Reason Documentary Why Ross should be freed).

Crypto is Donald Trump’s next frontier and it includes many of the things he loves most when it comes to trade deals – quick easy money, self-promotion, an America first message, and little bureaucratic friction in his way. So, what is $TRUMP coin?

It is built on the Solana blockchain with a total supply of 1 billion tokens. Initially, 200 million tokens are available for circulation, while the remaining 800 million are held by CIC Digital, a Trump Organization affiliate, subject to a three-year lock-up period (meaning the Trump family has access to the supply 80% of…). Following its launch, the market cap of the $TRUMP coin increased, reaching almost $6 billion. The price of the coin reached $33.7. The $TRUMP coin was marketed as a means for supporters to express their alignment with Trump’s ideals, rather than an investment opportunity, which is nonsense for a pump and dump self-enrichment scheme, which was created by For that is immoral and unethical in my opinion, and investors (oops, guess we should say “fans”) are foolish for participating in it.

With the inauguration on Monday, we are entering uncharted territory where it is likely that Trump will issue executive orders related to Bitcoin and crypto, and now given his presidency, lack of legal concerns, and encouragement by supporters that I really Trust that whatever he does will be right. , As he famously said, “I could stand in the middle of Fifth Avenue and shoot somebody, and I wouldn’t lose any voters, right?”

Some of these actions could be positive for the Bitcoin industry and advocates in the United States. But many of their actions could equally benefit the broader crypto space that is filled with pump-and-dump scam coins and worthless get-rich-quick schemes for wealthy insiders and those who made their fortunes in this last cycle. Have advocated. The pump and dump crypto landscape, their goofy coins and NFTs, make sense to Trump. In fact, I’m betting that despite knowing very little about Bitcoin, he truly believes this is the purpose of crypto. Trump has repeatedly said that he “fun with crypto” And that’s the end of it keynote address “Have a good time with your Bitcoin and your crypto and everything else you’re playing with,” he said at the Bitcoin conference last summer. Trump’s experience and views in crypto and Bitcoin are around entertainment and making easy money. But along with Bitcoin, many of us in the space are fighting for much more, including censorship resistance as a digital currency, digital gold, a medium of exchange for use in self-custody, and privacy protection tools. Bitcoin has many use-cases, including being a powerful tool for human rights, and much more. This is not a gamble for us…this is the future of money that challenges the dollar and central bank rule.

If Trump actually started to understand this based on his track record and past statements on Bitcoin, he would be quite against this use of Bitcoin. Or maybe he knows what Bitcoin is on some level, and he’ll promote “fun” meme coins, and maybe promote Bitcoin as digital gold, but nothing more. after all he did say in 2021Quite frankly, “Bitcoin, it just seems like a scam. I don’t like it because it’s just another currency competing against the dollar.” He said he wanted the dollar to become “the world’s currency.” (For more information on this concept I would highly recommend the following mark goodwin And his work on the Bitcoin dollar.)

Trump wants you to keep playing with crypto, giving money to his organizations, but he’s unlikely to support anyone using Bitcoin as a competitor to the dollar, bypassing traditional finance, or using privacy tools. Will be a fan of (especially if you are a protester or what he considers a leftist/woke cause, which perhaps one day he will classify as our non-profit progressive bitcoiner As). I will continue to promote Bitcoin as the currency of resistance, and hope you will join me instead of gambling endlessly on crypto “and everything else you are playing with”.

This is a guest post by Trey Walsh. The opinions expressed are solely their own and do not necessarily reflect the opinions of BTC Inc. or Bitcoin Magazine.