Brian Morgenstern, the head of public policy at Riot Platforms, recently shared his thoughts on how the 2024 election could impact bitcoin and the crypto industry. He praised former U.S. President Donald Trump for his supportive stance on bitcoin and criticized President Joe Biden's regulatory actions. Morgenstern highlighted Trump's commitment to protecting bitcoin from government interference, opposing the introduction of a central bank digital currency (CBDC), and championing the rights of cryptocurrency holders.
Morgenstern emphasized that Trump recognizes the importance of self-sovereignty and decentralization, especially as public trust in traditional institutions wanes. He noted that Trump has faced legal challenges and censorship, but remains steadfast in his pro-bitcoin stance. Morgenstern also pointed out that Trump's views align with other global leaders who support bitcoin, such as Presidents Javier Milei of Argentina and Nayib Bukele of El Salvador.
In contrast, Morgenstern criticized the Biden administration for its hostile approach towards bitcoin and the crypto industry. He cited Biden's veto of a resolution aimed at rolling back stringent cryptocurrency regulations imposed by the U.S. Securities and Exchange Commission (SEC) as an example of this hostility. Morgenstern also mentioned other anti-crypto measures proposed by the Biden administration, including taxes on bitcoin mining and restrictions on self-hosted wallets.
Morgenstern concluded by asserting that Trump is the best candidate for bitcoin enthusiasts, as he is likely to protect their rights to own, mine, and transact with bitcoin. He believes that Trump will support the growth of the cryptocurrency industry in the United States and prevent overreaching regulations that could stifle innovation. Morgenstern invited readers to share their thoughts on whether they agree with his assessment of Trump as the preferred candidate for the crypto industry.