Joe Biden is suddenly pro-crypto after Trump embraces it
Politicians will promise a lot to get votes. Despite candidates for the US presidency spending most of their time talking about broad public interests like healthcare, employment, inflation, and national security, they’ll occasionally make a narrow pledge about a specific sector.
Earlier this month, Trump appeared to completely change his mind about bitcoin. Despite branding it a scam five years ago, Trump now realizes that there might be, in his own estimation, “50 million crypto holders” who could cast a vote for him.
Whether or not that number is true, he needs more votes on November 5. So Trump made crypto a priority this month.
Read more: Trump considers Elon Musk for crypto post despite ‘never talking crypto’
Joe Biden watches Donald Trump pivot on crypto
Rather than once again lamenting how crypto “can facilitate unlawful behavior, including drug trade and other illegal activity,” this month, Trump promised to end Biden’s ‘crusade’ against the class. Specifically, he vowed to protect the right to self-custody and keep Congressional ‘goons’ away from bitcoin.
His political maneuver worked. The media broadcast his promises in hundreds of articles, earning tens of millions of impressions across social media reposts. Suddenly, the nation viewed Trump as a pro-crypto candidate.
Biden immediately realized he needed to respond. Like Trump, the current president has an irrefutably anti-crypto past. Indeed, he once swore, “I don’t have bitcoin.” For four years, he has refused to accept crypto donations during his presidential campaigns.
Biden reworks his crypto messaging
Two weeks ago, however, workers at Biden’s reelection campaign began a crypto outreach initiative in earnest. They began tweaking Biden’s statements on pending crypto legislation issues like FIT21 and SAB 121 and sure enough, the media began reporting on his new crypto engagement efforts.
Main stage speakers at the largest crypto conference of the year discussed Biden’s crypto policy pivot. Observers called the change an ‘about-face.’
Although Biden hasn’t announced any specific change in stance regarding any particular crypto bill — and his reelection campaign still doesn’t accept crypto donations — his staff is clearly working on improving his messaging. With Trump’s total pivot from ‘seems like a scam’ to ‘I’m good with it,’ Biden also seems poised to announce a statement on crypto policy that will earn him swing votes from the pro-crypto community.
Less than six months remain until the nation will cast its vote for the next US president. With Biden clearly identifying crypto as an important policy area to attract swing votes, millions of single-issue and swing voters will be considering his crypto rhetoric as part of their voting decisions.
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