Conservatives should be outraged. It’s understandable that the Trump-Bukele meeting focused entirely on trade and immigration. Yet, against the backdrop of their binary choice, Trump’s silence on Bitcoin seems like a harsh betrayal of their mutual dream to build economic independence. That’s a shameful lost opportunity, and Bukele should be careful.
Economic Sovereignty Left on the Table?
Both Trump and Bukele, in their own ways, are more than just disruptors. They serve as a rejection to the established global order. Bukele's embrace of Bitcoin is a direct challenge to the IMF's stranglehold on developing nations. This makes Trump, especially in the context of his protectionist, “America First” policies and currently proclaimed pro-crypto stance, a prime natural ally in this fight.
Bitcoin is, at its core, about decentralization and freedom from centralized control. It’s about making it easier for people and countries to be masters of their fiscal destinies. This dovetails beautifully with the conservative ideals of self-reliance and limited government. Heralding the creation of a Bitcoin strategic reserve and digital asset stockpile. This defensive move clearly demonstrates the depth of the administration’s ambition to upset the fiscal status quo.
Yet, where was this energy when Bukele was the one in the room.
Instead, we receive boilerplate on trade and immigration – both critical issues, to be sure, but far from game-changing. To turn away from Bitcoin would be a serious strategic mistake. One, it risks fundamentally reshaping global finance for the worse and two, it undermines and scoffs at Bukele’s courageous and ambitious experiment.
Pragmatism or Short-Sightedness?
Trump’s pragmatism may be warmly received on the right, but it falls flat on its face when viewed in the context of the larger world. She argues that prioritizing short-term trade agreements forfeits your opportunity for lasting economic self-sufficiency. It’s like trading a gold mine for a measly fistful of pebbles!
He wants to deport US citizens convicted of crimes to prisons in El Salvador. He called on Bukele to increase the capacity of El Salvador’s prison complex. Deportation deals are being signed. These interventions are vital and worth supporting, but do they tackle the root causes of economic desperation that underlie so much migration?
Bitcoin is the foundation for real economic liberation. More than anything, it allows countries such as El Salvador to break the vicious circle of debt and dependency. As strange as this sounds, Trump’s lack of a positive pronouncement on Bitcoin hurt it. This decision laid bare the Administration’s failure to commit to even the most basic, transformative vision.
The US government’s stash of 198,000 BTC is worth more than $17 billion at today’s prices. This isn't pocket change. Yet it undeniably remains a strategic asset that can itself be used to support nations such as El Salvador in their Bitcoin adoption efforts. If Trump is not open to discussing the merits of Bitcoin with Bukele, what chance is there for any real cooperation at all.
Bukele, Diversify Your Alliances Now!
Bukele, take note. Trump's silence speaks volumes. Despite his seemingly pro-crypto moves, if statements could signal a sea change, his actions show he’s not really committed. Don’t go all-in on the Trump bubble.
El Salvador’s defiance through ongoing Bitcoin purchases, even in the face of continued IMF pressure, shows tremendous conviction. As it stands, the country is sitting on top of 6,147.18 BTC—approximately $520.7 million at writing. This is a testament to Bukele's vision. Vision alone is not enough.
Tether's relocation to El Salvador is another positive sign. It's crucial to diversify alliances and build a broader coalition of support for your Bitcoin strategy.
The message is clear: El Salvador cannot rely solely on the whims of a single politician, especially one as unpredictable as Trump.
| Supporter | Level of Commitment to Bitcoin |
|---|---|
| Trump (Words) | High (Potentially) |
| Trump (Actions) | Low |
| Bukele | High |
| IMF | Actively Hostile |
The future of Bitcoin as a force for economic empowerment is completely reliant on technological innovation. It also requires robust political will and smart coalitions. Now is the moment for conservative policy wonks to realize the promise that Bitcoin holds and encourage more pro-Bitcoin policies to facilitate its adoption. Only then will we be able to realize meaningful economic sovereignty and liberate ourselves from the clutches of opaque, centralized institutions. Otherwise, it’s merely talk. And talk is cheap.
The future of Bitcoin as a tool for economic empowerment rests not just on technological innovation, but on political will and strategic alliances. It's time for conservative thinkers to recognize the potential of Bitcoin and advocate for policies that support its adoption. Only then can we truly achieve economic sovereignty and break free from the control of centralized institutions. Otherwise, it’s merely talk. And talk is cheap.
