Following a close presidential race between the Democratic and Republican nominees, Donald Trump’s odds of winning the U.S. presidency are climbing. Betting platform Polymarket shows Trump leading Democratic candidate Kamala Harris by over 30 points.
Harris’s Campaign Includes Crypto, Yet Support Slips
Though Harris has integrated cryptocurrency into her campaign, with support from entrepreneur Mark Cuban, her path to the presidency seems to be narrowing. Despite efforts, the current Vice President is losing ground.
Trump’s Position on Bitcoin: A Missed Opportunity?
Trump hasn’t mentioned Bitcoin at major campaign events in recent months. However, he has the chance to gain support from Bitcoin advocates. By proposing a Bitcoin plan, he could make debt reduction a central goal.
A Bitcoin Strategy for National Debt Reduction
To draw these votes, Trump could unveil a national Bitcoin strategy. For example, he might propose holding Bitcoin as a strategic asset. By planning to acquire about 4 million Bitcoins, or 20% of its supply, he could strengthen his debt reduction message. While Harris could introduce a similar plan, this seems unlikely.
Trump’s Understanding of Bitcoin’s National Impact
Though Trump has ventured into DeFi, he has demonstrated knowledge of Bitcoin’s national applications. He believes Bitcoin mining can help stabilize the national energy grid and has shown his support for U.S.-based miners. Recently, he stated:
“Bitcoin mining may be our last line of defense against a CBDC.”
He added:
“Biden’s opposition to Bitcoin only benefits China, Russia, and the radical left. We want Bitcoin production to be MADE IN THE USA, helping us achieve ENERGY DOMINANCE!”
Trump’s Bitcoin Advocacy Gains Momentum
Trump has strongly backed Bitcoin, even pledging at the 2024 Libertarian Party convention to review Ross Ulbricht’s sentence, the founder of Silk Road. Senior Trump advisors have criticized Biden’s administration, claiming that it limits innovation in cryptocurrency and technology through high regulation and taxes. Trump, on the other hand, aims to support American leadership in emerging tech.
Introducing a Bold Bitcoin Policy
Trump has a valuable opportunity to promote Bitcoin as a campaign asset. He could unveil a plan to secure a large Bitcoin reserve to address the national debt. Additionally, he could protect Americans’ rights to self-custody and consider creating a “Bitcoin Standard” similar to the historical gold standard.
With only a week until the election, a clear Bitcoin policy—such as pledging to hold 20% of Bitcoin’s supply—could energize supporters and strengthen his campaign.
The post Time for Trump (or Kamala) to pledge to buy 20% of the entire Bitcoin supply appeared first on CryptoSlate.
