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The Breakdown

Is there Danger in Politicizing Crypto?

The Breakdown

Blockworks

Investing, Business

4.8806 Ratings

🗓️ 1 July 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

A reading and discussion inspired by: https://blockworks.co/news/bitcoin-right-left-politics-neutral Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0

Welcome back to The Breakdown with me, NLW.

0:09.3

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

0:18.4

What's going on, guys? It is Sunday, June 30th, and that means it's time for Long Reads Sunday.

0:23.7

Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it,

0:27.2

give it a rating, give it a review, or if you want to dive deeper into the conversation,

0:30.7

come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly.

0:34.5

com. Hello, friends. Happy weekend. Given that all the

0:39.9

hullabaloo this week was about whether Donald Trump and Joe Biden would talk about Bitcoin or

0:44.5

crypto during the debates, which of course we know didn't happen, it seems only appropriate that

0:48.6

we read a piece about Bitcoin and crypto and its political implications. The piece is by Elliot David,

0:55.4

and is called Bitcoin Isn't Right or Left, it's Forward.

0:58.8

Elliot writes, Bitcoin and Crypto were quickly becoming a campaign issue in the 2024 election.

1:04.0

And so we now find ourselves at a critical juncture where Bitcoin could either become a

1:07.1

bipartisan issue or fall victim to the pitfalls of hyper-politicization.

1:11.9

Writing about the politics of Bitcoin, I think it is only fair to identify myself as a progressive, even though I have

1:16.1

worked for both President Clinton at his Foundation's Islands Energy Program and President Trump

1:20.1

at the U.S. Department of Energy. Through my work, I've come to understand that Bitcoin has intrinsic

1:24.1

value for everyone, regardless of political affiliation. Today, however, the challenge

1:28.2

lies in ensuring that Bitcoin's potential isn't overshadowed by political maneuvering. Recently, President

1:33.1

Trump has incorporated a pro-Bitcoin stance into his stump speeches, signaling a notable

1:37.3

shift in his political strategy. Now, reports suggest that President Biden is also engaging

1:41.6

with crypto stakeholders in order to explore how he, too,

...

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