As Donald Trump gets ready for his new political run, he is diving into the world of digital money with his new company, World Liberty Financial. This has been a surprising turn of events.
Trump has criticized Bitcoin in the past, calling it a “scam” and a danger to the U.S. dollar. With the 2024 vote coming soon, is Trump’s step into crypto a real change in view or a smart move for his campaign?
From Critic To Crypto Champion
Not long ago, Donald Trump was a loud critic of Bitcoin. In 2021, he called the digital coin a “scam” and that he wanted the U.S. dollar to stay the top currency in the world.
His words came during a tough time for Bitcoin. It was facing strict rules in China and Tesla’s Elon Musk changing his mind on Bitcoin payments. At that time, Bitcoin’s price was falling fast, which added to Trump’s doubt.
Jump to 2024, and Trump’s view seems to have changed. His new venture, World Liberty Financial, aims to change money handling with its new features in digital finance, such as online wallets and a voting token.
The launch of World Liberty Financial brings up an important question. Is this a smart move? Is it likely to change how people see him and win over the crypto crowd, or is he truly devoted to blockchain tech?
Donald Trump’s Calculated Move Or Political Ploy?
Since pledging to support the cryptocurrency industry if re-elected in November, Trump has gained significant backing from the crypto community.
However, the response to World Liberty Financial is mixed. Some worry about when Trump’s project is coming out, just 50 days before the presidential election. Critics say that starting this crypto project while running might hurt both the project and his campaign.
The timing of World Liberty Financial’s launch could be seen as a strategic move to align with the tech-savvy and crypto-enthusiastic voters.
By joining the crypto world, Trump could be looking to gain from the rising fame of blockchain and DeFi. This might pull in young voters who like tech and are tired of old money systems.
Nic Carter of Castle Island Ventures, is a trump Trump fan. He recently spoke to Politico and shared his doubts about the plan. Carter thinks this project might be a wrong turn.
He suggests that Donald Trump’s team may be taking advantage of his recent move to crypto in a bad way. He also warns that this could hurt the “bromance” Trump has created with the crypto crowd.
Is the Timing Right?
Trump’s venture into the crypto world is not without its challenges. The project has faced issues with scams and hacking, which have posed major obstacles. On September 4, a scammer accessed Lara and Tiffany Trump’s X accounts and posted fraudulent links related to World Liberty Financial.
Source: WLFI X
On August 30, the Official Telegram Group had to deal with fake advertising and giveaways using the project’s name. Earlier on August 8, Eric Trump clarified that RTR (Restore the Republic), a memecoin that grew to $155 million after its launch, was not affiliated with World Liberty Financial.
The success or failure of the project could have a significant impact on the Trump campaign. If World Liberty Financial is successful, it will enhance Trump’s image as a forward-thinking leader. On the other hand, if the project fails It may damage his credibility in the crypto world.
