During his presidential campaign, Donald Trump positioned himself as a fervent defender of Bitcoin. He has also done other things in the cryptocurrency world, launching his own collection of non-fungible tokens (NFTs) and introducing World Liberty Financial, a cryptocurrency project developed with his sons Eric, Donald Jr. and Barron, as well as other partners.
While promising to convert United States in the global capital of cryptocurrencieshis activity as an NFT collection promoter raises doubts. The contradiction in his message is evident: on the one hand, he advocates financial freedom and the principles of Bitcoin, while on the other he seems like a cunning shitcoin promoter. In itself, shitcoins are a somewhat derogatory term that refers to cryptocurrencies that do not add value to the ecosystem.
With his promises and speeches, Trump has generated a wave of interest, but also skepticism among bitcoiners. However, the question that hangs in the air is: is Trump really interested in Bitcoin, or is he more focused on the ocean of shitcoins and NFTs? Their cryptocurrency projects suggest that Your love for digital assets could be more aligned with the pursuit of personal gain than with a genuine defense on Bitcoin.
His cryptocurrency holdings confirm this. They are visible in a financial statement mandatory that he made to qualify for his candidacy for federal office. According to the information disclosed, Trump owns more than $5 million in Ethereum (ETH), and other digital assets.
Trump and his success in the world of NFTs
Since his foray into the world of cryptocurrencies, especially with NFTs, Trump has amassed a considerable fortune. In 2022, it launched its first digital trading card collection, and has continued with this model ever since, generating notable interest.
According to OpenSea datathe “Trump Digital Trading Cards” collection has achieved a trading volume that exceeds 15,800 ETH, equivalent, approximately, to about 37 million dollars, with around 14,000 active holders.
Although the exact amount of ETH he holds is unknown, tracking sources such as Arkham Intelligence have identified one of his potential cryptocurrency portfolios, allowing for detailed analysis of his digital assets. So, based on that, it seems Trump does not own bitcoin, but ETH and other assets such as the stablecoin USDC Coin and wrapped token.
A pro-Bitcoin message, but contradictory
Contradictorily, Trump has had a turbulent past in the world of cryptocurrencies. Previously, he showed open disdain for Bitcoin, suggesting that it facilitated illegal activities. However, in his new electoral cycle, he seems to have adapted his speech, which raises doubts about his sincerity.
Given this, it is worth asking: Was Trump’s new stance towards Bitcoin a mere attempt to appeal to Bitcoin voters?. This is precisely when cryptocurrencies are the new electoral niche that has become increasingly influential.
As part of his election campaign, the former president expressed his support for both Bitcoin and the cryptocurrency industry in general, making promises to turn the United States into the “crypto capital and Bitcoin superpower of the planet.” He also promised to include bitcoin in national reserves and declared that the country should not sell the crypto assets it owns.
Subsequently, despite his visible interest in the sector, Trump avoided mentioning bitcoin on several recent occasions, including an interview with Elon Musk and his debates, first with Biden and then with Kamala.
On the other hand, there is his World Liberty Financial project, which is described as “the only DeFi platform inspired by Donald J. Trump”, and which began selling its token. When talking about this initiative, he praised the knowledge about cryptocurrencies that his sons Eric Trump, Donald Trump Jr. and little Barron Trump, 18, have, whom he said understands cryptocurrencies very well.
“Barron knows a lot about this. Talk about your portfolio. “He has four wallets or something like that, but he knows about these things,” Trump said. With those words, the Republican candidate has implied that although he blindly supports the cryptoasset sector, he does not understand it very much.
“It’s almost as if the young people know it much better than the older ones. But I have a lot of respect for them. “They have all shown great judgment,” he said, referring to his children.
In fact, his approach to the world of digital assets came through NFTs. And it was precisely with the support of his children that Trump began selling digital collectibles with which He raised a million dollars of money and began to sympathize with the sector.
A change of position on Bitcoin
“I think my children opened my eyes more than anything else,” Trump once said. He subsequently sent the following message full of pro-Bitcoin rhetoric, but as part of the promotion of its World Liberty Financial project: “For too long, the average American has been squeezed by big banks and financial elites. It is time for us to take sides, all together.”
Additionally, the explosive growth of the politically themed altcoin market, especially memecoins inspired by Trump, It is one more screen that adds to the curious amalgamation of interests that are at stake.
Beyond that, there is the fact that the promises of a favorable future for Bitcoin can be seductive, but it is also worth asking if we are really looking at a Bitcoin defender or simply a shrewd industry player?
The lingering question is whether Trump will deliver on the promises he has made to bitcoiners. It is key to ask that question, especially if you take into account that Trump’s political history is full of emotional statements that do not translate into action.
From his comments on cryptocurrency regulation to his vision of a future without a central bank digital currency (CBDC), there is a lack of clarity about how these rhetorical constructions would be implemented should the Republican candidate win the election. White House.
His rhetoric is often combined with business interests and policies that they might not align with the principles of decentralization and privacy that Bitcoin advocates.
After all, the question remains, is Trump interested in Bitcoin or was that simply the vehicle he used to attract voters and donors in his quest to return to power? Only time will tell.
Although beyond that, it is clear that Trump has needed Bitcoin more than the currency has needed him. This is due to the decentralization of the asset, which makes it the best asset in the world. With this, it makes its way towards a bitcoinized future, and if, after all, it continues its course without too close ties with politicians, all the better.
Disclaimer: The views and opinions expressed in this article belong to its author and do not necessarily reflect those of CriptoNoticias. The author’s opinion is for informational purposes and under no circumstances constitutes an investment recommendation or financial advice.
