David Bailey, CEO of Bitcoin Magazine, has disclosed his nexus with the campaign of former President Donald Trump. Bailey and his team have advised Trump to develop a Bitcoin and crypto-friendly agenda, including signing a crypto-focused executive order on day one. He declared that crypto enthusiasts will not vote for Trump but against Biden’s crypto policies in the upcoming elections.
Bitcoin Magazine CEO Advises Trump’s Campaign, Remarks on Relevance of a Pro-Bitcoin Administration
Bitcoin is becoming a relevant matter going into the next U.S. presidential elections. David Bailey, CEO of Bitcoin Magazine, recently disclosed that his team had been advising the campaign of former President Donald Trump to develop a bitcoin and cryptocurrency-friendly policy. Bailey also referred to an executive order presented to Trump that would be signed on his first day back in power, focused on the cryptocurrency issue, without giving further details.
Trump, who had declared his negativity against bitcoin and cryptocurrency, had a change of heart this week, stating that his hypothetical upcoming administration would embrace bitcoin. At the same time, Trump attacked President Biden, stressing that he didn’t even know what crypto was.
Bailey remarked on the benefits that a crypto-friendly administration would give the industry in the U.S. and announced his team would intend to raise $100 million to develop a campaign to “ensure the next President of the United States is pro-Bitcoin.”
Bitcoin Magazine’s CEO clarified that his actions were not in favor of Trump but of Bitcoin, declaring that his current actions constituted an answer to the anti-crypto direction of the Biden administration and some democrats.
Bailey stated:
We will mobilize to defend ourselves. We’re not voting for Trump per se, we’re voting against Biden. The only person to blame for that is Biden.
“It’s time for Bitcoin to elect the next President of the United States,” he concluded.
Standard Chartered Bank’s head of FX Research and Digital Assets Research, Geoff Kendrick, also believes that a Trump second period would be “broadly positive,” bringing a “more supportive” regulatory environment for the industry.
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