Sat 30 Nov 2024 ▪
4
min reading ▪ by
Micaiah A.
Crypto is going through a contrasting phase. The election of Donald Trump, although welcomed with enthusiasm by part of the community, does not erase tensions. Bitcoin and several altcoins have surged, driven by the promise of a crypto-friendly future. However, disagreements persist: between hopes of clear regulation and ideological divisions, the landscape remains complex. Immersed in the turbulence of a fractured community.
Trump’s promises and the crypto divide
Donald Trump was able to ignite the debate during his re-election, notably thanks to ambitious promises on cryptoassets. For many investors and enthusiasts, his arrival in power represents a godsend: potentially favorable regulations and accelerated adoption of blockchain technologies.
Konstantin Richter, CEO of Blockdaemon, sums up this dynamic well:
« Crypto is for everyone. It gives everyone a voice. »
However, everything is not so rosy. Margaret Rosenfeld, specialist lawyer, notes that several members of the crypto community could not ignore other controversial aspects of Trumpian politics. These disagreements resulted in virulent clashes on social networks, particularly on X.
Some notable facts:
- Pro-Trump tweets accusing Democrats of being anti-crypto provoked bitter exchanges;
- The “Crypto for Harris” campaign was attacked by Republicans, showing growing polarization ;
- Some disappointed people even turned to Bluesky, a booming alternative platform.
Far from unity, these divisions illustrate a paradox : Trump catalyzes both enthusiasm and tensions within the crypto community.
Bitcoin: towards a bipartisan or politicized future?
The election of Trump has highlighted a major issue: the politicization of bitcoin. According to Natalie Smolenski, founder of the Texas Bitcoin Foundation, the surge in the BTC price reflects a investor confidence towards Republican economic policies.
But this dynamic poses a crucial question: can crypto remain apolitical?
For Dennis Porter, CEO of Satoshi Action Fund, the answer is clear. In this election, candidates opposed to Bitcoin lost largely because of their position.
« Elected officials must understand that opposition to crypto could cost them dearly “, he warns.
Yet, excessive politicization could backfire on the industry. Smolensk alerts: « Making Bitcoin a partisan issue creates enemies where there could be allies. »
Paul Ryan, former Speaker of the House of Representatives, agrees:
« The Democrats were wrong about crypto. Their ideology misunderstood the country’s expectations. »
These criticisms accentuate the idea that bitcoin, although universal in its essence, remains exploited for political purposes.
In short, if Donald Trump opens new perspectives for crypto and propels bitcoin to unprecedented levels, uncertainties remain. The sustainability of this “magic” will depend on other essential factors: high valuations, geopolitical tensions and future regulations. One thing is certain: the road to mass adoption will be strewn with pitfalls, but also with opportunities.
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Micaiah A.
The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy in this world, against all hope, I will say that I had something to do with it
