A Trump presidency is the best outcome for Bitcoin: NIKOLAUS

Watch Nikolaus On X here

The other week I made my opinion clear that I think Donald Trump is the best candidate for Bitcoin in the upcoming presidential election of 2024. Aaron responded and after reading it I feel he is still missing the big picture. Aaron’s main points seem to be that Trump is only using Bitcoiners for their votes and that he won’t follow through on his promises.

While I partially agree with the first point, I disagree with the latter. Contrary to what I’ve seen some Bitcoiners say online, I don’t think Trump needs to be a Bitcoin maximalist and cypherpunk to be a great Bitcoin president. Here’s why.

Trump needs all the votes he can get. Of course he will try to appeal to our voters, especially when most of us already have right-wing political views. It makes sense that the Republican party would adopt money for liberty, given that it now leans more toward the principles of liberty, while the Democrats have become more authoritarian.

So voting for Trump is a win-win. He gets more votes (some in critical states) and we get a better environment for our industry. I think it’s a good exchange.

And that brings me to where I disagree with Aaron. I think Trump will follow through on most if not all of the promises he made when it comes to Bitcoin. Because, well, most of the promises he made seem like relatively easy things to implement. It’s not like he’s alone on this issue — there are now many pro-Bitcoin senators and congressmen holding him accountable.

There’s Senator Cynthis Lummis, who wants to create a strategic Bitcoin reserve (using BTC already owned by the government). There’s Congressman Tom Emmer, who already wants to fire SEC Chairman Gary Gensler and appoint someone better for the industry. You can go to StandWithCrypto.com to see the rest.

If elected, Trump would have plenty of other, probably more important, issues to deal with. The fact that his policies would give Bitcoins a friendly regulatory environment in which to build, prevent anti-Bitcoin politicians from continuing to attack the industry, all without Trump interfering, sounds like the perfect storm for innovation.

The fact that he has done things like bringing Bitcoin mining to Mar-a-Lago to better understand the industry is proof enough to make that point.

I think many are overly critical of Trump because he said he was not a fan of Bitcoin in 2019. But that was many years ago and everything has changed since then. There’s no point in hating people for coming to Bitcoin after not being fans. (However, I think it’s ok to criticize the non-Bitcoin initiatives that Trump has promoted, such as World Liberty Financial, but even that is not worth losing all the benefits of his presidency.)

So why would Trump release Ross now, when he’s already had a chance to serve out his term?

In politics, as in Bitcoin, it’s all about incentives, and the incentives here are aligned.

This article is a Take. The opinions expressed are entirely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.