As a right-leaning conservative, why has Trump recently shifted his attitude and begun to embrace cryptocurrency, especially when he previously criticized Bitcoin as 'not money'? Here are several key reasons and political calculations that can help you understand this shift:
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1. Trump's style: Pragmatism first, not bound by ideology
Although Trump belongs to the conservatives, his political style is populist-oriented, emphasizing markets and votes. He often makes decisions that differ from traditional conservative positions based on the circumstances.
• Early opposition to Bitcoin: Mainly based on the concept of sovereign currency (supporting the dollar), also due to distrust of 'new technology.'
• Later change of attitude: When he realized that a large number of young people, liberals, the tech sector, and even new generation voters within the Republican Party embraced cryptocurrency, he began to recognize that 'embracing cryptocurrency' could become a strategy for garnering votes and attracting funds.
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2. Cryptocurrency and right-wing values actually do not conflict
Cryptocurrency seems 'a bit liberal,' which is a common impression, but in reality, cryptocurrency also aligns with certain right-wing or libertarian values.
This is actually highly consistent with Trump's stance of 'anti-establishment, anti-federal bureaucracy.'
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3. The need for political funding and election strategies
Trump currently faces a dual war of resources and supporters, and the cryptocurrency community provides:
• New sources of political donations: Many cryptocurrency supporters hope that politicians will advocate for Web3 or oppose excessive regulation, and they are willing to donate to candidates who support cryptocurrency.
• Attracting young voters and resources from the tech sector: These groups originally leaned towards the Democratic Party, but under the Biden administration's increasingly strict regulatory policies on cryptocurrency, their positions have begun to waver. Trump's support at this time can harvest this group of 'turning votes.'
• Attacking the Biden administration: By publicly supporting cryptocurrency, Trump can point out the Biden administration's 'excessive regulation' and 'stifling of innovation,' highlighting himself as the 'innovation-friendly' and 'market-open' side.
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4. Trump's branding mindset: NFT, tokenization opportunities
Trump himself is a 'brand-type' politician, and his combination with cryptocurrency also appears in:
• Trump NFT series launch: Multiple waves of Trump-themed NFTs launched in 2022 and 2023 received enthusiastic responses, showing he understands the potential of this market.
• Tokenizing personal image: Trump sees himself as a celebrity and brand that can continue to profit and promote in the Web3 space, which aligns with his consistent 'business instinct.'
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Summary:
The reason Trump embraces cryptocurrency under a conservative stance is not merely a political contradiction, but a combination of strategic shift and real interest considerations. He has identified the potential of cryptocurrency:
• Votes, funding, and topicality;
• At the same time, it also aligns with the basic spirit of the right's 'personal freedom, small government, anti-regulation.'
He may not fully understand blockchain technology, but he knows: embracing cryptocurrency is profitable and scores political points. That's enough.