Biden team shift their tones on Bitcoin & cryptocurrency market

[Catenaccio]

Biden campaign ramps up crypto industry outreach in surprising tone 'shift'

This shift actually started recent weeks with SEC.'s stance on ETH Spot ETF applications from some companies. After many silent months, they contacted these companies and forced them to cooperate with SEC. for more consideration on those applications. Finally we can see SEC. approved ETH Spot ETFs and now we see something bigger.

Biden team shifted their stance on crypto industry and it looks like a good news for this market. Can we trust that they will keep their promise if they become winners in the USA. President Election this year?

I don't know, can not answer it now, I don't know about future but this shift shows that how disloyalty politicians are. Trump actually said different things about this crypto industry 5 years ago and only show his changes recent months that caused the Biden team have to react accordingly.

https://x.com/realDonaldTrump/status/1149472282584072192

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....

[NotATether]

Everyone extends olive branches to crypto when the price goes up but empty their rounds of bullets at it when it goes down. Who would've known?

However, I still do not trust the Biden administration in regards to crypto. They still look like the kind of people who are ready to kill bitcoin privacy at any moment if they want to.

PS: Politicians usually don't keep their promises. It is well known.

[As03]

They say what gets them votes, how can you even believe those democrats ? they lie all day.

[legiteum]

Bitcoin went up 500% under President Biden.

Trump will bring massive change and chaos to the American economy. He has promised to deport 5% of American residents, which will wreak havoc on our labor markets and send our economy into a tailspin.

Trump's history involves overt, blatant criminality that his supporters don't care one whiff about. He used his last time in office to enrich himself and his family to the tune of billions of dollars (not penny-ante stuff like the "Hunter Biden" thing), and his taste in the stock market shows that simply outlawing Bitcoin so he could replace it with a currency of his own (not the US government's, his own) would be perfectly in character and met with strong applause by his core voting base. This could send the price of Bitcoin to zero or something close to it.

Go with the safe choice that has profited Bitcoin owners these past years: Biden. No politician is perfect, but Biden is absolutely the best choice for Bitcoin owners.

[Iranus]

Bitcoin went up 500% under President Biden.

Trump will bring massive change and chaos to the American economy. He has promised to deport 5% of American residents, which will wreak havoc on our labor markets and send our economy into a tailspin.

Trump's history involves overt, blatant criminality that his supporters don't care one whiff about. He used his last time in office to enrich himself and his family to the tune of billions of dollars (not penny-ante stuff like the "Hunter Biden" thing), and his taste in the stock market shows that simply outlawing Bitcoin so he could replace it with a currency of his own (not the US government's, his own) would be perfectly in character and met with strong applause by his core voting base. This could send the price of Bitcoin to zero or something close to it.

Go with the safe choice that has profited Bitcoin owners these past years: Biden. No politician is perfect, but Biden is absolutely the best choice for Bitcoin owners.

So can you explain to me that in previous bull cycles like 2013, 2017 when Biden had not yet become US president, what was the reason why bitcoin increased in price and brought profits of 1000%, 10000%? The increasing price of Bitcoin is because its demand is increasing over time, and whoever becomes president of the United States in the upcoming term cannot stop the rise in bitcoin's price.

I won't discuss politics here because we'll just try to say good things about the person we vote for and bad things about the other person. But what I see is that Mr. Trump was the first to speak out in favor of bitcoin and cryptocurrency, while the Biden administration is trying to imitate Mr. Trump after their crypto crackdown failed. Furthermore, in addition to being a politician, Mr. Trump is also a successful businessman, I believe he will do better in making our economy better.

[legiteum]

I won't discuss politics here because we'll just try to say good things about the person we vote for and bad things about the other person. But what I see is that Mr. Trump was the first to speak out in favor of bitcoin and cryptocurrency, while the Biden administration is trying to imitate Mr. Trump after their crypto crackdown failed. Furthermore, in addition to being a politician, Mr. Trump is also a successful businessman, I believe he will do better in making our economy better.

No, before a few months ago Trump spoke negatively about Bitcoin. Read your history. He is only saying things about Bitcoin now because he thinks it can win him a few votes.

Donald Trump is absolutely not a "successful businessman", he's a spoiled heir to several billion dollars who lost half of his inheritance because he'd be twice as rich as he is now if he simply put his inheritance in the bank when he got it. He drove several companies to bankruptcy, including--get this--a casino! Trump couldn't even make a casino work!

Trump pardoned several criminals for the crime of ripping off his own supporters and his followers still love him for it. Trump promises therefore to steal from all Americans because he clearly likes stealing and he will not suffer any political downside from doing so.

Trump is promising, through his written policy documents, radical change to the US economy. If you've ever spent even a minute in a real business, you'd know that the last thing you want from the government when things are going well (e.g. Bitcoin going up 500% under Biden) is massive changes.

Trump promises chaos. Biden promises more of the same bull run we've been on.

[bitLeap]

Should we be surprised? This narrative is only for political purposes so that it can be broadcast so I am not surprised anymore. Because after Biden became president, look at what he did, especially regarding crypto market regulation. As a superpower whose dollar must be considered to remain strong compared to other currencies, of course now the assumption that they are treated as if they are friendly needs to be questioned. This is nothing more than a political issue so that the Bitcoin community in particular feels that they have been given a platform for expression but in reality it is not, regulations are being tightened and it is considered a threat to the Dollar. I am not a US person but based on our views who also actively follow US news, we do not see a positive side to Bitcoin and Crypto during the Biden administration. Maybe I am misinformed, so please tell me is the regulation regarding Bitcoin really positive there?

[thecodebear]

Both presidential candidates are reaching out to crypto right now for one reason and one reason only: to get votes in this year's election.

For America's sake Biden NEEDS to win this election (I mean I really wish it was a different Democratic candidate, but since its not, Biden is the only hope for America again, just like four years ago). I don't think USA can't go through another round of Trump without breaking, and even if the country didn't full on break, another four years of Trump would be very horrible in every way imaginable and leave another round of deep lasting scars on the nation.

So it is very good to see Biden perhaps a little bit starting to change his tune on Bitcoin/Crypto. Because it means maybe some decent Crypto legislation will get passed this year, and of course it can help Biden grab a few extra votes. Sometimes political realities is the only thing that'll spur a politician to wake up and do the right thing, and this seems to be starting to be the case with Biden and Bitcoin/Crypto.

[348Judah]

Biden team shifted their stance on crypto industry and it looks like a good news for this market. Can we trust that they will keep their promise if they become winners in the USA. President Election this year?

This is politics and what everyone here is considering is from the points that they will use to hit a blow against their opponent at the cause of the presidential race, uttered words can be renounced, if you once said yes, then later you can come back to say no, there is nothing bad in that, he wouldn't want that to be a big point over him from his counterparts, i want to believe they have realized the needs of the people under a decentralized system when it comes to financial economy and they think if they can as well uses that as part of their campaign awareness, with the total numbers of bitcoin users accepting their stand and voting for them, they can go by way far ahead their opposition party through the bitcoin network.

[bittraffic]

Everyone extends olive branches to crypto when the price goes up but empty their rounds of bullets at it when it goes down. Who would've known?

However, I still do not trust the Biden administration in regards to crypto. They still look like the kind of people who are ready to kill bitcoin privacy at any moment if they want to.

PS: Politicians usually don't keep their promises. It is well known.

Regardless of what the Biden administration had done to crypto, they can always take credit for the SEC allowing ETFs. They may get some votes still and make a fair competition with Trump for the crypto community. But both parties still can't be trusted, they however figured this election is crypto-based so they might as well change their stance for now before it's too late. This is where the world can see how politicians are just going to do the necessary in order to win.

[dzungmobile]

Bitcoin went up 500% under President Biden.

Go with the safe choice that has profited Bitcoin owners these past years: Biden. No politician is perfect, but Biden is absolutely the best choice for Bitcoin owners.

LMAO  

Bitcoin is created in 2009 and it has more than 500% up in many 4-year period so I can ask you a question, if in the last four years, the President of the USA. is not Biden, would Bitcoin have had 500% rise?

I don't know your answer but your post shows like you believe that rise is because of Biden. I say oppositely, Bitcoin can rise up 500% or smaller or higher than that with another President.  

Bitcoin price history, ATHs and bottoms.

Note:

• I did not compare information in the chart with my calculation as I only made a first one for price change from $32 to $1242, it is 38x, not 32x, so probably there are some minor inaccuracies but let's skip them and see an overview picture.

Does Bitcoin price depend on USA. President in past cycles?

Naturally, when market cap is bigger, price will have less growth for each cycle so don't say in next 4 years, if Bitcoin has less than 500% increase, it is because of the next President even he can be either Biden or Trump.

Please don't say the same next 8 years with another President who will surely not be Trump and Biden.

[Z-tight]

Why are they seeking 'guidance' on crypto related matters now, does it mean they have they been regulating and attacking an industry that they do not fully understand? There is nothing to be excited about all this and it looks like a strategy to score a few points in the election that's coming later this year.

I feel some bitcoiners get too excited with news like this and i don't really know why, neither of the presidential campaign teams have said anything that bodes so well for BTC, and i am sure the way they view and understand BTC isn't going to change.

[legendbtc]

This news is very interesting and it shows us that both Trump and Biden are using cryptocurrency as a strategic weapon in the race for the White House. That shows that bitcoin and cryptocurrency are gradually becoming more popular and will play an important role in the world in the future.

It's not just me, I think we're all skeptical and don't believe what politicians say. But it is clear that if they do not fulfill their declared commitments and continue to find ways to prevent the development of bitcoin, will their government receive trust in the next term? So, I believe that no matter who wins, we will still benefit and the cryptocurrency industry will become more important. Can anyone think of a scenario where we will have a super bull cycle thanks to these catalysts?

[electronicash]

they race to win the presidency so taking the safer route to get votes will be what's best for the two. congress however are doing everything to submit bills that are not going to help the crypto holders. in time and whichever wins this election, they will still approve those bills like custodial wallets will be asking KYC to its users for tax purposes. in the end, it's just like saying something good for crypto but doing the exact opposite.

[Iranus]

I won't discuss politics here because we'll just try to say good things about the person we vote for and bad things about the other person. But what I see is that Mr. Trump was the first to speak out in favor of bitcoin and cryptocurrency, while the Biden administration is trying to imitate Mr. Trump after their crypto crackdown failed. Furthermore, in addition to being a politician, Mr. Trump is also a successful businessman, I believe he will do better in making our economy better.

No, before a few months ago Trump spoke negatively about Bitcoin. Read your history. He is only saying things about Bitcoin now because he thinks it can win him a few votes.

Donald Trump is absolutely not a "successful businessman", he's a spoiled heir to several billion dollars who lost half of his inheritance because he'd be twice as rich as he is now if he simply put his inheritance in the bank when he got it. He drove several companies to bankruptcy, including--get this--a casino! Trump couldn't even make a casino work!

Trump pardoned several criminals for the crime of ripping off his own supporters and his followers still love him for it. Trump promises therefore to steal from all Americans because he clearly likes stealing and he will not suffer any political downside from doing so.

Trump is promising, through his written policy documents, radical change to the US economy. If you've ever spent even a minute in a real business, you'd know that the last thing you want from the government when things are going well (e.g. Bitcoin going up 500% under Biden) is massive changes.

Trump promises chaos. Biden promises more of the same bull run we've been on.

Just because someone had a negative view of bitcoin or was indifferent towards it in the past does not mean they will continue to hold that view now or in the future. Even among today's bitcoin investors, many were skeptical about bitcoin when they first heard about it but are now bitcoin maximalists. Blakrock CEOs Larry Fink and Michael J. Saylor also have a history of being unfriendly to bitcoin, but now what? They are the holders of the most bitcoins in the world.

I'm not a US citizen and I don't care what the political situation is like there. From what I've seen, I just think Trump will be more crypto-friendly than what the Biden administration is doing towards crypto. During Biden's term, look what the SEC has done to us as they continuously attack the markets, from centralized exchanges to mixer services, and their next victims could be decentralized exchanges. I don't see anything good under Biden in power.

[stompix]

LMAO  

Bitcoin is created in 2009 and it has more than 500% up in many 4-year period so I can ask you a question, if in the last four years, the President of the USA. is not Biden, would Bitcoin have had 500% rise?

I don't know your answer but your post shows like you believe that rise is because of Biden. I say oppositely, Bitcoin can rise up 500% or smaller or higher than that with another President.  

You don't understand what he was trying to point out.

If democrats had been that bad for Bitcoin how did it increase 500% how did ETFs got approved, how did the US gain the majority of the hahsrate, how is it that the US dominates everything in terms of atms,node, businesses, and owners when Trumps argues the democrates are against Bitcoin.

Seriously, I want to see one argument that Democrats have made something agsint the princeples of Bitcoins and put it in the law.

During Biden's term, look what the SEC has done to us as they continuously attack the markets, from centralized exchanges to mixer services, and their next victims could be decentralized exchanges. I don't see anything good under Biden in power.

What have they done?
They made possible the biggest bull run we had, a new ATH and record cash inflows.

[BlackHatCoiner]

If democrats had been that bad for Bitcoin how did it increase 500%

Why is price increasing an argument in favor of the democrats? Bitcoin price also increased when Trump was president, even more than 500%. Does that make republicans "good" for Bitcoin? And since when the US is the sole arbitrator of the price?

how did ETFs got approved

This barely has anything to do with democrats. BlackRock saw the opportunity for an ETF, and it got it issued. It could have happened under Trump's presidency.

Seriously, I want to see one argument that Democrats have made something agsint the princeples of Bitcoins and put it in the law.

I'm not suggesting that republicans will be any better, but there's clearly a hostility. They have tried passing laws that attack Bitcoin like the ones which discriminate based on self-custody or usage of privacy enhancing tools. They have been funding blockchain surveillance companies using taxpayer's money etc. These policies are against Bitcoin, if I had to call them somehow.

[Yamane_Keto]

I am not a fan of politicians talking about Bitcoin. The more they know about what Bitcoin can offer, the more they will reject it. The coming period will witness economic wars between the United States, China, Russia, and Bitcoin, and Bitcoin’s entry into the political battle between these countries will not be beneficial. Bitcoin seems less sensitive to political variables, which is a positive thing because it can be a candidate for a safe haven, but if it is affected by political variables, it will be closer to stocks than gold.

[kotajikikox]

Bitcoin seems less sensitive to political variables, which is a positive thing because it can be a candidate for a safe haven, but if it is affected by political variables, it will be closer to stocks than gold.

Bitcoin in itself is not political and so should not be used as such.

However there are some factors that could really affect bitcoin even if it is political. Like if there are wars or any kinds of tensions between political parties or geopolitical issues. That could lead to a rise or fall of bitcoin’s price. It’s also political if regulations and laws about bitcoin are talked about so expectedly we can see bitcoin being affected by that.

[cryptosize]

LMAO  

Bitcoin is created in 2009 and it has more than 500% up in many 4-year period so I can ask you a question, if in the last four years, the President of the USA. is not Biden, would Bitcoin have had 500% rise?

I don't know your answer but your post shows like you believe that rise is because of Biden. I say oppositely, Bitcoin can rise up 500% or smaller or higher than that with another President.  

You don't understand what he was trying to point out.

If democrats had been that bad for Bitcoin how did it increase 500% how did ETFs got approved, how did the US gain the majority of the hahsrate, how is it that the US dominates everything in terms of atms,node, businesses, and owners when Trumps argues the democrates are against Bitcoin.

Seriously, I want to see one argument that Democrats have made something agsint the princeples of Bitcoins and put it in the law.

During Biden's term, look what the SEC has done to us as they continuously attack the markets, from centralized exchanges to mixer services, and their next victims could be decentralized exchanges. I don't see anything good under Biden in power.

What have they done?
They made possible the biggest bull run we had, a new ATH and record cash inflows.

The last BTC bull run started during Trump's presidency (2020). Many people comfortably "forget" this fact. I won't even mention the even more impressive 2016-2017 bull run which also happened during Trump's presidency... you guys need to stop using silly arguments that don't even prove your pro-Biden point.

It doesn't matter who was the president in 2021 (in an parallel universe it could have been Trump and it wouldn't have stopped the bull run).

It's asinine to insinuate that a president (no matter who it may be) can influence a decentralized currency that much... unless BTC is centralized and we don't know it. Is that what you want to believe?

I get it, woke folks/purple-haired Karens are triggered in case Trump gets elected again, but this isn't a fair criticism towards him.

A fair criticism IMHO would be a potential financial meltdown in 2027 when China invades Taiwan. The US economy/stockmarket (Apple, Nvidia, AMD etc.) is highly dependant on TSMC (they're building new bleeding edge fabs in the West and Japan, but they won't be ready until 2027-2028). Imagine if Nvidia stock plunges by 99.99% in a single day due to disruption of supply chains.

If Trump is the next president, he will get all the blame for starting WW3 and triggering hyperinflation in the entire world (which is going to ruin all fiat currencies -including USD- and bring CBDC as a "New Deal").

But regardless of presidents (they're all WEF puppets), it's the Deep State that actually dictates if WW3 starts or not and you guys keep wasting energy about who is the best puppet/frontman in a faux democracy.