Trump’s Election Fractures The Crypto Community

The crypto is going through a contrasting phase. The election of Donald Trump, although welcomed with enthusiasm by part of the community, does not erase the tensions. Bitcoin and several altcoins have surged, driven by the promise of a crypto-friendly future. However, disagreements persist: between hopes for clear regulation and ideological divisions, the landscape remains complex. A dive into the turmoil of a fractured community.

Trump’s Promises and the Crypto Division

Donald Trump managed to ignite the debate during his reelection, notably thanks to ambitious promises on cryptoassets. For many investors and enthusiasts, his rise to power represents a windfall: potentially favorable regulations and accelerated adoption of blockchain technologies.

Konstantin Richter, CEO of Blockdaemon, sums up this dynamic well:

” Crypto is for everyone. It gives a voice to each one. “

However, not everything is so rosy. Margaret Rosenfeld, a specialized lawyer, notes that several members of the crypto community could not ignore other controversial aspects of Trump’s politics. These disagreements have resulted in virulent clashes on social media, particularly on X.

Some notable facts:

• Pro-Trump tweets accusing Democrats of being anti-crypto sparked heated exchanges;
• The “Crypto for Harris” campaign was attacked by Republicans, showing growing polarization;
• Some disillusioned individuals even turned to Bluesky, a booming alternative platform.

Far from unity, these divisions illustrate a paradox: Trump catalyzes both enthusiasm and tensions within the crypto community.

Bitcoin: Towards a Bipartisan or Politicized Future?

The election of Trump highlighted a major issue: the politicization of Bitcoin. According to Natalie Smolenski, founder of the Texas Bitcoin Foundation, the surge in BTC prices reflects investor confidence in Republican economic policies.

But this dynamic raises a crucial question: can crypto remain apolitical?

For Dennis Porter, CEO of Satoshi Action Fund, the answer is clear. During this election, candidates opposed to Bitcoin largely lost due to their stance.

” Elected officials must understand that opposition to crypto could cost them dearly,” he warns.

However, excessive politicization could backfire on the industry. Smolenski warns: ” Making Bitcoin a partisan issue creates enemies where there could be allies. “

Paul Ryan, former Speaker of the House, agrees:

” Democrats have misunderstood crypto. Their ideology has misread the expectations of the country. ”

https://twitter.com/RyanSAdams/status/1854135822150238469

These criticisms reinforce the idea that Bitcoin, although universal in its essence, remains instrumentalized for political purposes.

In sum, while Donald Trump opens new perspectives for crypto and propels Bitcoin to unprecedented levels, uncertainties remain. The sustainability of this “magic” will depend on other essential factors: high valuations, geopolitical tensions, and upcoming regulations. One thing is certain: the road to widespread adoption will be fraught with hurdles but also with opportunities.