Trump’s Appeal to Bitcoin Miners: A Wake-Up Call for Crypto to Stay Apolitical

The former President of the United States, Donald Trump, has recently called for a domestic bitcoin mining industry to develop in the U.S. This announcement has sparked mixed reactions from crypto advocates, with some seeing it as a positive signal for the importance of crypto, while others are more skeptical.

Geopolitical Signal?

Trump’s statement has been met with a range of opinions. On one hand, Bitcoin Magazine’s Alex Bergeron argues that Trump’s statement is a powerful signal for the importance of crypto. According to Bergeron, “We absolutely want the world’s most powerful man to signal to every other power broker that Bitcoin mining is a geopolitical issue. That’s how you get everyone to start mining. That’s how you decentralize the network.”

Bitcoin mining is a geopolitical issue

On the other hand, climate change expert and co-founder of the Bitcoin Policy Summit Margot Paez argues that centralizing hashrate production in any one country, specifically one where politicians and regulators have in recent memory been hostile to crypto, is perhaps unwise.

Lying with Dogs

Many see it as frankly embarrassing to be buddying up with any politician, putting aside Trump’s Napoleonic-sized ego. Bitcoin writer and privacy advocate L0la L33tz argues that politicians cannot be trusted, that Trump failed to deliver on many of his previous campaign promises, and that Bitcoin doesn’t really even need political support.

Bitcoin and politics

It may seem expedient to fall in with the Republican party standard-bearer given that most political support comes from the right. But I think the view of someone like Uniswap’s Marvin Ammori - that the crypto industry should strive to be neutral and apolitical - is likely the better strategy.

Crypto and politics

It may seem like the industry is finally getting the political support it needs. But proceed with caution. The real question here is whether the U.S. attempting to dominate the bitcoin mining trade through government support or even subsidy would inspire other governments to incentivize domestic mining.

Bitcoin mining industry

In conclusion, Trump’s appeal to bitcoin miners is a wake-up call for crypto to stay apolitical. While it may seem expedient to fall in with the Republican party standard-bearer, it’s likely that the better strategy is to strive to be neutral and apolitical.

Crypto industry