The Wall Street Journal's (WSJ) editorial board has written that former President Donald Trump's alleged plans to turn bitcoin into a strategic reserve asset are inconsistent with the value of cryptocurrencies. Trump said at a bitcoin conference in Nashville last week that bitcoin represents freedom and independence from government, among other things, but this view is at odds with the way he used bitcoin after his election in November, the WSJ wrote. "What he's proposing is not freedom from government, he wants all bitcoin in the future to be made in the United States, which is a restriction on freedom and requires a larger power grid because bitcoin mining requires a lot of energy," the op-ed noted.
The op-ed's claim that if Mr. Trump does take office in January, he will have a "rough plan" to turn Senator Cynthia Lummis' bill into reality echoes many of the contradictions of the billionaire's "Make America Great Again" mantra, as well as most of the positions that cryptocurrencies represent.
WSJ: Using Bitcoin as a strategic reserve asset contradicts the claim of "getting rid of the shackles of the government"
2024-07-30 22:01:36
Wall Street journal wsj editor committee writer president donalddesk3cryptocurrencydesktopCrypto News
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