CEO Bitcoin Magazine: Bitcoin affirms its role in the US Presidential race

David Bailey, CEO of Bitcoin Magazine, said his team advised Trump's campaign team, mentioning an executive order presented to Trump to be signed on his first day in office, focuses on cryptocurrencies without providing further details.

Mr. Trump had expressed a negative stance towards Bitcoin and cryptocurrencies but changed his stance this week, declaring that his incoming administration would support Bitcoin. At the same time, Mr. Trump attacked President Biden, emphasizing that Mr. Biden does not even know what cryptocurrency is.

Bailey commented on the benefits that a crypto-friendly administration would bring to industry in the US and announced his team's intention to raise $100 million to develop a campaign to 'ensure Total America's next president supports Bitcoin'.

Bitcoin Magazine CEO clarified that his actions are not beneficial for Mr. Trump but for Bitcoin, claiming that his current actions are a response to the anti-cryptocurrency direction of the Biden administration and some democrats.

'We will mobilize for self-defense. We are not voting for Mr. Trump, we are voting against Mr. Biden. The only person at fault in this is Mr. Biden'.

'It's Time for Bitcoin to Elect America's Next President'.

Geoff Kendrick, head of FX and Digital Assets Research at Standard Chartered Bank, also believes that Mr Trump's second term will be 'very positive', bringing a 'more supportive' regulatory environment for this nascent cryptocurrency industry.

David Pac

Update 14 May 2024