Biden has been a complete failure on several issues since he first entered office, and bitcoin is no exception.
Biden Really Hasn’t Helped Bitcoin
Looking at the recent bitcoin crash, we cannot help but be reminded of the many analysts that emerged in late 2020 when Biden was declared the presidential winner who claimed he would be the man to put bitcoin on the American financial landscape. This would be the president that would ultimately give bitcoin so much attention, the asset would undoubtedly become fully legitimate.
Quite frankly, these analysts are probably feeling rather foolish and ashamed by now. Foolish for not only falling for Biden’s endless stream of lies, but also for suggesting something as outlandish as Biden accomplishing anything significant or noteworthy during his political tenure. One can argue that Biden’s poor economic policies have led to the record inflation we’re witnessing today. This inflation has led to Fed rate hikes, which in turn, are largely labeled as the culprits behind BTC’s recent demise.
Biden has a long and established history of being a career politician. He’s always been a man for himself and not for the people. He’s someone who has consistently worked to ensure his own well-being and the well-being of family members like his son Hunter through his long-standing political ties, but when one thinks about it, what has Biden really done for his country in the last 50 years?
The answer is nothing… Absolutely nothing. He has repeatedly turned his back on America in the name of serving foreign nations like China. He is currently responsible for rising food and gas prices, and his only claim to fame appears to be a 1994 crime bill that has incarcerated more people of color than practically any other form of national legislation. Biden himself admitted many years later that this bill was a mistake, though by then, the damage had been done.
With such a massive record of doing everything wrong, why did so many analysts think Biden would be the world’s major bitcoin booster? The situation is confusing given that many bitcoin fanatics had several other candidates during the 2019 presidential primaries to choose from that seemingly would have placed bitcoin on a more mainstream pedestal.
Andrew Yang, for example, swore up and down he would do all he could to ensure crypto rules became transparent and understandable. Up to that point, taxation laws surrounding crypto were very unclear, and Yang sought to instill the necessary changes so traders could make more informed decisions.
No Voter Sway
Michael Bloomberg – the former mayor of New York – swore to do the same, but neither of these men seemed to make any serious headway with American voters. Instead, Biden moved ahead despite what seemed to be a clear lack of crypto in his agenda.
To be fair, he has issued a crypto executive order in recent months, but this has done little to nothing to keep the space stable, meaning it now shares the same lack of distinction as Biden’s many other political measures.