What doesn't kill me makes me stronger

"I'm Back, Bitches!" This sentence is for all those who doubt me, and also for those who take advantage of my misfortune.

The first former president in history to be convicted, surrounded by unconventional tech geeks, former subordinates, and former enemies, plus cryptocurrencies that have been repeatedly declared "dead" by mainstream media since 2011 - this combination has become the Republican Party's bargaining chip in the 60th US presidential election. From Trump's perspective, this team looks a bit fragile. Key figures Musk and Vance have publicly criticized Trump's policies, and Trump himself has repeatedly criticized Bitcoin, believing that it is nothing more than a Ponzi scheme and a money laundering tool.

But "the world is bustling, all for profit; the world is bustling, all for profit." No matter whether it is people or things, as long as there is a common interest, differences can be temporarily put aside. For Trump, this is a life-and-death battle, a war about family honor; for Musk, this is a journey that determines the future of mankind; for Vance, this is a battle to defend the old American dream and the new Silicon Valley ideal. All obstacles are now converging on one point - the Democratic Party.

From the moment the first vote was cast in Pennsylvania, the balance of victory had already tilted. The Democratic Party summoned all the veteran politicians it could, mobilized Hollywood stars, and spent a lot of money on media publicity, but even so, the Trump team was still unstoppable. Voting closed on November 6, and on that day Trump won all seven swing states, crushing the Democratic Party's hunt. The key to this battle lies in the "silent majority" - the lower-class legal citizens oppressed by illegal immigrants and extreme liberalism. They don't speak out on social media, but they will cast a firm vote. The man wearing the red "MAGA" hat has finally returned to the White House again.

In this turbulent US election, I can understand the motivations of everyone standing by Trump, but what puzzles me is why Trump chose Bitcoin? Some people think that this is to win the votes of cryptocurrency holders, because cryptocurrency holders in the United States account for about 13% of the total population. Trump has also said that Bitcoin can be used to repay the $35 trillion national debt and even replace gold as a new strategic reserve. The former sounds far-fetched, and the latter seems a bit outrageous. In order to convince myself, I consulted a lot of financial analysis and gradually found that Bitcoin has intersections with the United States led by Trump and Musk in the next four years in many fields: energy, anti-Federal Reserve, anti-Democratic Party, anti-big government, and a new symbol of the old American dream.

energy

The true intentions of politicians are always hidden behind high-sounding reasons. Looking back at Trump’s remarks on Bitcoin, he made a puzzling statement on Truth Social in June this year: “Bitcoin mining may be our last line of defense against CBDC (central bank digital currency)… We hope that all remaining Bitcoins are made in the United States!” He even expressed the hope that “Bitcoin will be labeled ‘Made in the USA’ and make the United States the capital of cryptocurrencies”. Such remarks seem to convey a sense of standing on a united front with grassroots voters, resisting the Democratic Party’s “tyranny” over cryptocurrencies, and opposing CBDC and foreign Bitcoin. But if you think deeply, you will find that whether Bitcoin is “Made in the USA” is actually not very related to the above reasons.

Trump's real purpose may be to develop energy. Behind him, the main donors are mostly from the energy field, including Kelsey Warren, CEO of Energy Transmission, Harold Hamm, founder of Continental Resources, and Timothy Dunn, CEO of CrownQuest. The funds of these giants in the traditional oil industry are the main support for Trump's campaign, and the renewable energy policy promoted by the Democratic Party has greatly restricted the development of the traditional oil industry. Trump's intention is obviously to strengthen the use of fossil fuels and use fossil energy to generate electricity. His idea is very simple, everything that consumes oil, try to do it.

Musk's dream of Mars is also closely related to the energy industry. The main obstacle to settling on Mars is energy issues, followed by rocket launch costs, artificial intelligence robots and communications. The Democratic Party's policies have hindered Musk's career development. The government's environmental supervision of SpaceX and the funding delays for the Starlink project are both considerable pressures. Trump's energy policies and aerospace contracts have naturally become Musk's bargaining chips to support him.

Energy is not only related to the dream of Mars, but also plays an important role in the development of AI. The future demand for AI computing power will rely heavily on energy, and computing power is almost the new "oil". Therefore, Bitcoin mining may be just a cover for Trump. Trump does not need to really understand Bitcoin, he just needs to know that it does consume electricity and that voters do like it.

Anti-Fed

Zuckerberg was once a loyal supporter of the Democratic Party and even banned Trump's social media account as soon as he left office. However, despite his loyalty to the Democratic Party, Zuckerberg's Libra project was killed because it challenged the authority of the Federal Reserve.

Historically, there have been two presidents who have shaken the Federal Reserve: Lincoln tried to take back the right to mint coins, and Kennedy tried to issue currency in silver. Both ended in assassination. Now, Trump and Musk also want to challenge the power of the Federal Reserve. During Trump's last term, he repeatedly expressed dissatisfaction with the Federal Reserve's interest rate hikes and said that if he had the opportunity to take office again, he would fire Federal Reserve Chairman Powell. Musk also tried to challenge the US dollar through Bitcoin payments, but eventually canceled it on the grounds of "environmental protection" issues.

Trump promised to use Bitcoin to repay US debt, build a strategic reserve of Bitcoin, and even claimed that Bitcoin will surpass gold. Although this statement is ridiculous, its implicit meaning is that Trump wants to control the currency power. In the anti-Fed movement, Bitcoin is undoubtedly a pioneer with great symbolic significance.

Anti-big government

Between the Democratic Party's advocacy of big government and the Republican Party's advocacy of small government, cryptocurrency naturally tends to the latter. Crypto's anarchism is closer to the Republican Party's small government ideology: low taxes, less regulation, and emphasis on personal freedom and market mechanisms. The Democratic Party advocates big government, high taxes, strong regulation, and emphasizes social equity and public services. The Republican Party can promote a "compliant" crypto world through technologies such as blockchain, allowing voters to be more free in financial activities, and even prevent election fraud through blockchain in the future.

A new symbol of the old American dream

The so-called new American dream, represented by Kamala Harris, symbolizes a multicultural America. She is the politically correct symbol of the Democratic Party. However, the representative of the old American dream is the Republican vice presidential candidate JD Vance, who symbolizes the spirit of striving to achieve personal success through hard work and effort. Cryptocurrencies such as Bitcoin coincide with the core of the old American dream - in the parallel world of blockchain, miners are equal, and the more they invest, the more they gain.

If Trump keeps his promise, cryptocurrencies in the Web3 era will carry the "American Dream" for crypto users around the world.

About Future

Satoshi Nakamoto once said: "If you don't believe me or can't understand me, I don't have time to convince you." I am not against the "Americanization" of Bitcoin. Any country, institution, or individual can buy Bitcoin. Cryptocurrency is free. Controlling Bitcoin Tokens does not mean controlling the network. Everything that happens on the Bitcoin blockchain is still decentralized.

However, I am disgusted by the excessive connection between crypto and politics. As an industry that combines finance and technology, we have spent too much time on politics. This phenomenon is abnormal for any technology industry in its development stage. Bitcoin may be on an equal footing with the Republican Party in this election, and each party gets what it needs, but Crypto other than Bitcoin may not be the same.

I am Chen Tianzhi. The global market is changing rapidly. The world is a whole. Follow Tianzhi to bring you the world's top financial perspectives.