In a recent appearance, Lark Davis discussed the surprising emergence of cryptocurrency as a central political issue in the upcoming 2024 US presidential election. The CoinSpeech team collected the most important takeaways from his discussion. You can find the Lark Davis’s new video below.
Biden Administration: A Deep-State War on Crypto?
Lark Davis did not mince words when discussing President Joe Biden’s stance on cryptocurrency. Highlighting the “absolute war path” taken by Biden’s administration, Davis stated, “Biden’s SEC initiated an unprecedented 173 enforcement actions against cryptocurrency players in the USA.” According to Davis, the Biden administration views cryptocurrency as a threat, and Biden himself may not understand what Bitcoin or crypto is.
Despite recent movements, such as backing down on a veto threat related to the fit 21 crypto bill, Davis remains skeptical. He noted, “I fully expect the Deep state to take up their anti-crypto war path again if Biden gets reelected.”
Trump: From Indifference to Advocacy
Turning to former President Trump, Davis explained that Trump’s earlier approach to cryptocurrency was “apathetically negative.” In contrast to Biden, Trump did not initiate aggressive crackdowns on the industry during his term. Davis commented, “Steve Mnuchin spoke about the risks of crypto, but that was kind of about it.”
However, recent changes are noticeable. “Trump is on the crypto train man; he is 100% Pro crypto now,” Davis emphasized. Trump’s shift towards crypto support seems to be a strategic move, driven in part by his engagement with pro-crypto campaign money and advice from figures like Vivek Ramaswamy.
RFK Jr.: The True Crypto Believer
Davis highlighted Robert F. Kennedy Jr. as a candidate who genuinely understands and believes in the cryptocurrency movement. Unlike Trump, who might be more politically motivated, RFK Jr. is seen as a genuine advocate. “He actually believes in this stuff and the mechanics behind crypto,” Davis noted.
RFK Jr.’s strong stance was illustrated by his keynote speech at the Bitcoin 2023 conference, where his message was clear: “tyranny is at the city gates and Bitcoin equals Freedom.” His consistent adherence to controversial positions, such as his skepticism about vaccines, lends credibility to his crypto advocacy.
The Unstoppable Future of Crypto
Davis concluded with a hopeful sentiment, asserting that the political spotlight on cryptocurrency indicates its increasing significance. “This is the future of Finance, the future of financial value on the internet,” he affirmed. Regardless of the election outcome, the trajectory for cryptocurrency seems bright, with both Trump and RFK Jr. likely pushing for a more crypto-friendly administration.