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Trump supports Bitcoin as an option to strengthen the US economy in the future

Avatar of Evaristo Lara

By Evaristo Lara

Jun 12, 2024, 1:51 PM EDT

Donald Trump, Republican presidential candidate, put the Central Bank on the ropes by supporting the Bitcoin cryptocurrency as an option to strengthen the country’s economy in the future.

Unlike Joe Biden, who during his administration has turned his back on cryptocurrencies, allowing Gary Gensler, chairman of the Securities and Exchange Commission (SEC), and Elizabeth Warren, Democratic senator from Massachusetts, to try to question them and even in establish new regulations for the companies that manage them; donald trump seems to have a completely opposite vision about the role that Bitcoin could play as a catalyst for the American economic model under a Republican presidency.

The New York tycoon turned to the Truth Social platform after Bitcoin Magazine defined him as “the best option for Bitcoin.”

“VOTE FOR TRUMP! Bitcoin mining may be our last line of defense against a (central bank digital currency). Biden’s hatred of Bitcoin only helps China, Russia, and the radical communist left.

We want all remaining Bitcoin to be MADE IN THE USA!!! It will help us become ENERGETICLY DOMINANT!!!”, wrote.

Donald Trump’s approach to cryptocurrencies is completely opposite to that of Joe Biden. (Credit: John Locher / AP)

In a defiant tone, during the Libertarian National Convention held last month, the 77-year-old New Yorker attacked Democratic Senator Elizabeth Warren, who believes that cryptocurrencies should align with the rules established by the US financial system.

“I will keep Elizabeth Warren and her goons away from your Bitcoin, and I will never allow the creation of a bank digital currency,” Trump said regarding the possibility of the Federal Reserve implementing a digital currency through the Bank in the future. Central.

Despite the uncertainty about the future that awaits cryptocurrencies, during political campaigns that started last year Several donors have resorted to this modality to make donations to certain candidates and, through companies such as Ripple and Coinbasethey sent close to $100 million dollars to the so-called super PACs.

Hence the fact that the Central Bank has begun to analyze the possibility of having its own cryptocurrency as an alternative to physical money.

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