Vladimir Ilyich Lenin once said: "There are years in which nothing happens, and there are times in which, in just a few weeks, the world changes more than decades." This statement is very appropriate when applied to Bitcoin and blockchain.
Investing in blockchain has been like a calm sea for most of the time, with no major moves from the SEC, the president, or the government. But in recent weeks, the changes have been so great that it's like a decade of rational thinking has suddenly exploded, and the ideals of cryptocurrency have begun to penetrate political barriers.
In May, a presidential candidate publicly endorsed blockchain; then, two of the three presidential candidates, ten U.S. senators, and a bunch of members of the House of Representatives all showed up at the 2024 Bitcoin Conference! This kind of scene is unprecedented.
The policy changes are even more earth-shaking. Here are some of the points Trump made in his Bitcoin 2024 speech:
He called Bitcoin a "miracle of technology" and the result of collaboration and human ingenuity.
He believes Bitcoin has the potential to surpass gold, saying it is now bigger than ExxonMobil and will soon exceed the entire silver market cap.
Under the banner of "America First", he said he wanted to make the United States a leader in the encryption field.
He supports encryption policies that want to end the "choke point plan 2.0" that hinders the development of encryption companies.
He plans to establish a presidential advisory committee on Bitcoin and crypto assets to design transparent regulatory guidance.
He also said that it is necessary to clarify the regulation of stablecoins so that the influence of the US dollar can be expanded to the whole world.
He emphasized that Bitcoin is not a threat to the US dollar, but rather it is the actions of the US government that threaten the US dollar.
What excites me most is Trump's proposal for the US strategic Bitcoin reserve. He said that the US government is already one of the largest Bitcoin holders, holding about 210,000 Bitcoins, accounting for 1% of the total supply. He promised that if elected, he would keep 100% of all Bitcoins currently and in the future acquired by the US government as a national strategic reserve. This is simply treating Bitcoin as a national treasure!
Moreover, it is not just Trump. Third-party candidate Robert F. Kennedy also said that he would build a larger Bitcoin reserve and even proposed a specific purchase plan. Senator Cynthia Loomis also proposed legislation to accumulate an official reserve of 1 million Bitcoins within five years.
Even Harris' campaign has begun seeking to "reset" its relationship with crypto companies, reaching out to top crypto companies in an attempt to reestablish its relationship with the industry.
Congressmen and senators also took part in the Bitcoin conference, emphasizing that Bitcoin is not a partisan issue, but the key to democratizing the financial system.
This change is like a tsunami. Politicians finally saw the popularity of crypto assets and began to follow the trend. After all, most Americans are under the age of 40, they like crypto assets, and they have the right to vote.
Speaking of investment opportunities, Dan Morehead, founder of Pantera, said at a panel discussion: “This is the first opportunity that ‘smart money’ has missed. Almost all institutional investors’ blockchain investments are either zero or less than 1%. This is the investment opportunity with the greatest potential because institutions have not really gotten involved yet.”
He also said that Bitcoin itself is its killer application, already storing a lot of wealth, carrying a lot of savings and cross-border capital flows. Even if nothing else is built on Bitcoin, it is already an amazing development for the world.
Look at this change, look at this opportunity. After ten years of hard work, the spring of Bitcoin and blockchain has finally arrived.
