As a seasoned crypto investor with over two decades of experience navigating the ever-evolving digital asset landscape, I find myself increasingly disheartened by the rampant spread of misinformation that has become synonymous with social media discourse. The recent instance involving Michael Saylor and his tweet about Donald Trump’s stance on taxing crypto is yet another example of this disturbing trend.
As the United States Election approaches quickly, with early voting underway, there’s been an influx of misleading information regarding candidates’ policies on social media. Michael Saylor, executive chair of MicroStrategy, appears to have been misled by a tweet that falsely stated Donald Trump’s stance on taxing cryptocurrency.
On October 30th, Saylor shared a post on his platform, addressing over 3.6 million followers, where he credited Trump with a statement that crypto should not be subjected to taxes and considered Bitcoin as currency itself.
According to a probe conducted by CryptoMoon, it appears that the phony statement was first traced back to the X account of user ‘karbon’, who stated in a post on October 28th that the Republican candidate allegedly made those comments during a more recent interview.
Initially inaccurate data within a tweet seemed to be spread by Good Morning Crypto, who shared it with their 26,000 followers on October 29th. Saylor subsequently echoed this on October 30th, causing prominent X-related accounts such as Kraken and Bitcoin Archive to perceive the information as authentic.
As a crypto investor, I’d like to share my perspective: “Not paying taxes on cryptocurrency serves as a small-scale demonstration of how information functions.” This observation stems from my reflections on Saylor’s tweet. In essence, the only reason things are considered true is that someone declares them to be so. The entire world operates on this principle: people saying things and making them a reality.
At the point when I reached out to both Saylor and the Trump campaign for their thoughts on CryptoMoon, they had not responded by the time the article was published.
Over the past week, Donald Trump participated in two significant interviews, one with podcaster Joe Rogan and another on Fox News with Sean Hannity. In his discussion with Rogan, Trump proposed the concept of abolishing federal income taxes. However, during this conversation, he did not delve into the topic of digital assets.
Making a difference on Election Day?
In the unique system of the United States Electoral College, the presidential contest between Trump and Vice President Kamala Harris might hinge on a narrow margin of votes in decisive swing states such as Wisconsin, Georgia, and Pennsylvania. Both contenders have expressed interest in backing the crypto sector if victorious, but some undecided voters could potentially be influenced by either candidate’s pledge for more advantageous policies in this area.
In simpler terms, Craig Salm from Grayscale suggested that there might be voters who are extremely concerned about inflation and the overall state of the economy. They view cryptocurrency as a potential solution to these issues, which could influence their voting decisions in upcoming elections. Since crypto can act as a safeguard against inflation and a means to store value, it’s not surprising that more and more voters are considering crypto given the current economic problems they see.
As a crypto investor, I recall back in Trump’s tenure as U.S. President when he dismissed Bitcoin (BTC) as a currency based on “nothing but thin air,” even going so far as to label it a “scam.” Fast forward to his 2024 campaign, however, and it seems like he’s had a change of heart. He’s been seen at the Bitcoin 2024 conference, launched a collection of non-fungible tokens (NFTs), and has started advocating for BTC miners. It appears that his stance on digital assets has evolved over time.
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2024-10-30 21:47