Who better for Bitcoin and crypto? Trump or Biden?

Who better for Bitcoin and crypto? Trump or Biden?


Two candidates, President Donald Trump and Joe Biden, are heading for an election that looks to be very contentious in November, and unfortunately cryptocurrencies are not featured as part of their campaign issues. Their stance on technology is of paramount importance to the cryptocurrency world for the next four years. 

Trump :crypto " thin air"

Trump is known not to be a supporter of cryptocurrencies in particular. He was clear about this with a tweet in July 2019: "I'm not a fan of bitcoin and other cryptocurrencies that are non-Money, whose value is highly variable and relies on thin air," he said.

Trump has proposed turning over control of cryptocurrency criminal investigations to The Secret Service as part of a $ 4.8 trillion budget proposal, according to Zenledger, a tax tool for cryptocurrencies.

Zenledger said the report labeled cryptocurrencies a challenge to national security. No further comment was made on the matter by the Trump administration.

Meanwhile, Trump's tweet was not well received in cryptocurrency circles, and many investors 'response to Trump was:' most U.S. dollars are similarly used to trade illegally and can also be printed from the air’

But some in the industry said it was a key point for Trump to comment on cryptocurrencies. But with a combined market capitalisation of $ 350 billion, it's no surprise to talk about the crypto market

Biden and Bitcoin

Joe Biden, on the other hand, has supported technology and financial innovation, as some reports have shown. And while there is no record of Biden speaking publicly about Bitcoin and crypto, his actions give us clues.

In 2016, a Biden campaign began accepting Bitcoin for donations, according to The Hill. The party imposed a maximum $ 100 limit on Bitcoin per donation and required participants to identify themselves using a form and wallet addresses.

But that was four years ago. There has been no pro-Bitcoin Talk or action since. In fact, when Biden's Twitter account was affected by last month's attack, he said it was not Bitcoini.

Biden has never spoken badly about Bitcoin. In addition, considering that young Americans are investing heavily in gold and cryptocurrencies, Biden could reach a large voter base with comments about the broader crypto industry.

As a result, Trump has a negative view on cryptocurrencies, and there is no indication that he will change that, anytime soon. Biden, however, appears to have a favorable opinion. In 2011, Biden commented that "no citizen of any country should be subject to an oppressive global code" when using the internet, but at the same time "public-private cooperation" is important to keep the internet safe and "operational," according to Trustnode.

This view overlaps with the systems and values of cryptocurrencies: make regulation workable, but don't focus on some powers.