David Bailey, CEO of Bitcoin Magazine, has publicly announced his collaboration with Donald Trump’s campaign to forge a crypto-friendly agenda, potentially shaping future US policy on digital assets. Using the social media platform X, Bailey detailed his direct involvement in crafting a strategic vision for BTC and other cryptocurrencies under a potential Trump administration
A $100 million War Chest For Bitcoin
Bailey announced, “For the past month we have been working with the Trump campaign to develop their Bitcoin and crypto policy agenda. We proposed a comprehensive executive order for President Trump to sign on day 1.” This executive order is expected to lay the groundwork for a more crypto-friendly regulatory environment, reflecting the campaign’s strategic approach to digital assets.
Bailey also emphasized the campaign’s commitment, stating, “We intend to raise a $100 million war chest for the campaign to ensure the next President of the United States is pro Bitcoin.”
This development follows Trump’s recent remarks at the Trump Cards NFT Gala, where he criticized the current administration’s stance on cryptocurrencies. Trump quipped, “[Biden] has no idea. But look, [he’s] very much against it. The Democrats are very much against it.” He further aligned himself with pro-crypto sentiments, indicating, “If you like crypto in any form, and it comes in a lot of different forms, if you’re in favor of crypto, you better vote for me.”
The announcement by Bailey sparked diverse reactions within the crypto community. Sweep (@0xSweep), a well-known crypto influencer, commented, “Bitcoin doesn’t need Trump. Trump needs Bitcoin.” Bailey responded by emphasizing the mutual benefits of this alliance, suggesting a strategic partnership rather than a one-sided dependency.
Bailey elaborated on the potential impact of a pro-BTC presidency, stating, “As Bitcoin’s trajectory becomes undeniable this cycle, the establishment is going to fight us tooth and nail. A pro-Bitcoin presidency buys us 4 years of status quo at a minimum (maybe more).” This perspective highlights the critical window of opportunity for the Bitcoin and crypto community to solidify its position within the US financial system.
Addressing the political nuances, Bailey asserted, “Bitcoin is not a partisan issue, it’s apolitical. However, we will mobilize to defend ourselves.” He clarified that the community’s support is more about opposing the current administration rather than an outright endorsement of Trump, saying, “We’re not voting for Trump per se, we’re voting against Biden. The only person to blame for that is Biden.”
Bailey also made a bold statement about the community’s political influence: “It’s time for Bitcoin to elect the next President of the United States.” This statement underscores the increasing recognition and potential clout of digital currencies in US electoral politics.
The dialogue between Trump, Bailey, and the broader cryptocurrency community suggests a significant shift in the political landscape concerning digital assets. As the US presidential election approaches, the BTC policies of candidates could become a pivotal issue for winning the election, influencing not only the future of regulatory landscapes but also the broader acceptance and integration of digital currencies in the US economy.
At press time, BTC traded at $60,896.
Featured image from Euronews, chart from TradingView.com
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