As rising to the national strategic level, does Trump's BTC conference promise have a high credibility for long?

Author | Master of the Five Fireballs

Produced | Plain Talk Blockchain

Recently, Trump attended the 2024BTC conference as a top guest, and **delivered a series of “sweet words”-like promises to encryption enthusiasts, expressing almost unconditional love for BTC, Trump stated that BTCMarket Cap will surpass gold, and if elected, will oust the encryption-unfriendly SEC chairman, and will also retain government stake BTC as a strategic reserve, just short of saying “Let the United States ALL in BTC”, the audience reacted enthusiastically with applause. Due to the attendance of Trump and others, this conference has also become the most high-profile BTC summit in history.

When we found that the focal points that have a huge impact on the encryption market such as ETF, SEC, interest rate hike, and election are all concentrated in the United States, the United States has become the dominant force in the encryption market, almost holding the ‘pricing power’ of encryption assets such as BTC. The upcoming US election will have a profound impact on the encryption market, so the encryption community has been closely following the dynamics of the US election recently.

Trump’s frequent gestures of goodwill towards encryption assets, many people believe this is Favourable Information, while others believe it is just a political show to win votes, and once he becomes president, he may backtrack or even burn bridges. So, how reliable is Trump’s sweet talk? Who is right and who is wrong? Everything needs to start with the positions and values of the two major camps in the US Republican and Democratic parties…

01. Why is BTC favored by Trump and the Republican Party?

Many people believe that in the context of the confrontation between the Republican Party and the Democratic Party in the election year: BTCencryption user voters are suppressed by the Democratic-dominated authorities, and Trump’s overtures are conducive to winning more votes and generous donations, paving the way for the next election. This logic makes perfect sense, but there is no guarantee that the Republican Party and Trump will “start and give up” after winning the election, and there are many similar examples in history. **

Actually, there is no need to worry about this. Many people only know one side of the story without understanding the other. Another important background is the Republican party’s stance and values, which President Trump belongs to.

Simply put, the values ​​of the Republican Party, including Trump, determine their future policy direction and overall orientation. In fact, the positions of the Republican Party and Trump have always included: support for free markets, economic policies that promote individual freedom, and conservative social views with a certain degree of right-leaning conservatism. At the same time, Trump has proposed policies that support technological innovation, advocates for personal privacy and security, and opposes excessive currency control and financial regulation. Overall, right-leaning individuals may be more inclined to support and participate in technological innovation and market freedom.

It is not difficult to see that the core idea of BTC returning financial power to individuals is fully in line with the values of individual freedom and market freedom advocated by the Republican Party and Trump. At the same time, BTC is also favored and supported as an emerging technology and investment opportunity they support.

This can also be seen from Musk, who supports the value of BTC. He recently said in an interview that he is a worshipper of American values. He has supported the Democratic Party in history and now supports the Republican Party. He is just looking for the representative of the American values in his heart. Currently, the Republican Party is more in line with his admired talent, and does not abuse DEI (Diversity, Equity, and Inclusion, which is a typical left-wing value), and advocates basic American principles such as individual freedom, so he now supports the Republican Party.

**Of course, Trump’s speech at the BTC conference was a bit “sappy,” and his promises are likely to be discounted. After all, the main purpose now is to long for votes, and when actually in a high position, it will be necessary to weigh the pros and cons. The implementation of new policies is likely to inevitably lead to another round of debate.

In the end, just look at the lukewarm market reaction to BTC after Trump’s speech, everyone is very clear in their minds, can’t listen to what he says, but have to see what he will really do by then.

**02、Why doesn’t the Democratic Party like BTC that much?

As the dominant force in this US government, the actions of the Democratic Party in recent years have been evident to all. Although their attitude has softened as the election approaches, it is clear that Democratic leaders, including Biden, the SEC chairman, and now the presidential candidate Harris, seem to not be very fond of BTC.

It is still a matter of values, as mentioned earlier, as stated by Musk, Democrats are obviously leaning towards the left in their positions and policies. Some have even criticized them as being “extreme left”. In the Democratic Party’s propositions, including environmental impact and sustainability, financial inequality and social justice, stronger regulation, etc., it reflects their devaluation of individual freedom and emphasis on public and collective interests.

It is obvious that under the left-leaning values, the core concept of BTC is not so harmonious, so the left-wing Democratic Party, including Biden and Harris, do not actually like BTC very much.

03, no matter who is elected, cannot change the rolling wheel of history

1) There are also many supporters within the Democratic Party

Although the Democratic Party is left-leaning, not everyone is ‘extreme left’. Most people are rational and discuss matters based on facts. Previously, the Democratic Party has made it clear that they will move towards the center on market and financial regulatory issues, distancing themselves from the extreme left.

Previously in the vote on the unfriendly Cryptocurrency accounting policy SAB 121 that banned encryption, the Republican-led House of Representatives passed it by a vote of 228-182, and the Democratic-led Senate passed it by a vote of 60-38. Although it was ultimately vetoed by Biden directly, it can be seen that a considerable part of the Democratic Party also supports BTC, and I believe that with the internationalization and mainstreaming of encryption assets, there will be more progress in the future.

2) Core Values of the United States

For many years, people have assumed that BTC is one of the main challengers to the dominance of the US dollar and should have been blocked long ago. Even if the United States cannot completely block it, it has the ability to marginalize it, but in fact it has not. This is not only because of BTC’s own antifragility, but also because one of the reasons behind it is that Americans find it difficult to violate core American values.

In the history of the United States, individuals were once prohibited from owning gold. However, some people believe that this ban violated the principle of individual freedom, and was seen as an infringement on personal freedom and property rights. The repeal of the ban in 1974 was seen as a restoration of economic freedom and individual rights. Although the ban played a certain role in dealing with the Great Depression, in the long run, it was seen by most people as a failed policy because it restricted individual freedom and failed to fundamentally solve economic problems.

Now Americans are well aware that it is difficult to ban private ownership of BTC as it was to ban private ownership of gold back then, for two reasons: there is the precedent of failure, and BTC is just a string of characters relative to physical gold, making it impossible to enforce by prying into and monitoring the personal privacy of every American.

If Americans don’t even have the power to hold a string of characters in their hands when they go after BTC, which is based on the core concepts of freedom and individual power, then they must first overthrow the Statue of Liberty. In fact, no matter how much the Democrats and Republicans disagree, no one can stand up and overthrow the Statue of Liberty, which symbolizes freedom, democracy, and the American Dream. These core values can be said to be the foundation of the United States.

04, Summary

In the debate, encryption assets such as BTC have also gained a fertile ground for spiral rise. No matter who is finally elected, it cannot change the rolling of the historical wheel. Believe it or not, BTC has only one last window left as a reserve asset…01928374656574839201