Gary Gensler’s Departure Is No Triumph For Bitcoin

Credit : bitcoinmagazine.com

As I defined earlier than, I do not assume Donald Trump actually cares about Bitcoin; at greatest he is a shitcoiner who desires in on the rip-off. That mentioned, it is honest to say that Trump is a pro-cryptocurrency place throughout his marketing campaign. And certainly, his promise at Bitcoin 2024 to fireside Gary Gensler on “day one” of his presidency already seems to have led to the SEC chairman asserting his resignation.

An optimistic state of affairs (as urged, for instance, by Trey Walsh) is one by which the Democrats now (additionally) undertake Bitcoin as a part of their social gathering platform. However given what number of different seemingly impartial subjects are being unnecessarily politicized (the COVID vaccines are maybe the most effective latest instance of this), I would not be stunned if the other occurs.

With the incoming Trump administration gearing as much as create a regulatory panorama that allows full multicoinery, and with Gary Gensler gone, we might properly see essentially the most heinous rip-off cash multiply and rise – earlier than inevitably imploding. And whereas persons are being strung alongside, dumped, and in any other case scammed over the following 4 years, I can even simply think about a political response from the opposite facet of the aisle that does not acknowledge the excellence between Bitcoin and the World Liberty Financials of the world . completely. They may flip towards all cryptocurrency much more than they have already got – Bitcoin not excluded.

In fact that is all hypothesis; I haven’t got a crystal ball right here. However in a couple of years, bitcoiners might discover themselves caught between the polarized positions of each main American political events. Nocoiners to my left, shitcoiners to my proper, right here I sit, with you within the center.

This text is a To take. The opinions expressed are solely these of the writer and don’t essentially replicate these of BTC Inc or Bitcoin Journal.