US President Biden, who is seen by the community as hostile towards cryptocurrencies, posted a personal portrait on a social media platform today with the characteristic “laser eyes”, seemingly trying to win the favor of young Americans who are friendly towards cryptocurrencies.
Background Information:
Founder of Skybridge Capital switches support to Biden: The crypto circle must support him! Trump’s presidency will “disrupt the US judiciary”.
Table of Contents:
Does Biden want to win over young voters?
He displayed the laser eyes coffee cup last year
Coinbase research shows that 51% of millennials and Gen Z adults support cryptocurrency-friendly candidates
US President Joe Biden has been viewed by the community as holding hostility towards cryptocurrencies due to a series of statements and policies in recent years. For example, the White House Council of Economic Advisers (CEA) criticized the cryptocurrency ecosystem in the 2023 Presidential Economic Report, stating that it is causing harm and risks to consumers, traditional financial systems, and the environment.
Last year, the White House also attempted to impose a punitive energy tax of up to 30% on cryptocurrency mining companies, which sparked industry backlash. Biden himself also vowed to crack down on tax evasion by cryptocurrency traders in his speeches.
However, as the 2024 presidential election approaches and the election situation becomes critical, Biden seems to be trying to win the favor of young Americans who are friendly towards cryptocurrencies.
Today (12th), Biden posted a personal portrait with laser eyes on Platform X at noon, sparking discussions in the cryptocurrency community. Some netizens jokingly commented on the post, saying, “Bitcoin is going to replace the US dollar,” while others requested Biden to “pump Bitcoin”.
In fact, last August, Biden posted a video of himself holding a coffee cup with a “laser eyes” personal portrait. The cup was also marked with “2024”.
Coincidentally, Bitcoin will experience its halving in 2024. Therefore, some netizens speculated that Biden’s move seems to obscurely express support for Bitcoin, while others believe that Biden himself has no idea of the true meaning behind “laser eyes” and that it was merely the work of his PR team.
According to previous reports by Doo-Won, laser eyes were combined with the hashtag #LaserRayUntil100K during the 2021 bull market to express optimism that Bitcoin has entered a “super mode” and will continue to surge to a price of $100,000. At that time, famous figures including Tesla founder Elon Musk, MicroStrategy founder Michael Saylor, and Bitcoin warrior in the US Senate Cynthia Lummis all changed their profile pictures to images of eyes emitting laser beams.
Further reading:
Does Biden really understand Bitcoin memes? He actually showed off a “laser eyes” coffee cup, praising its beauty
Whether Biden knows the connection between laser eyes and Bitcoin and whether he supports cryptocurrencies still needs to be answered by himself. But it is certain that Biden needs the votes of American citizens who are close to cryptocurrencies.
According to an article released by Coinbase, the largest cryptocurrency exchange in the US, citing various research data, it is evident that a large number of California voters and young Americans support cryptocurrencies.
According to data from Morning Consult, 8.2 million adult Californians (27% of Californians) own cryptocurrencies.
The latest Toluna survey shows that cryptocurrency holders in California represent the next generation of voters in the state, with 40% of them aged between 18 and 34.
Approximately 86% of cryptocurrency holders in California agree that the global financial system needs to change; 78% of cryptocurrency holders believe that policymakers should support new, innovative, and disruptive technologies; 83% believe that cryptocurrencies and blockchain technology are important economic tools for the future of finance; and 79% believe that cryptocurrencies and blockchain can increase economic opportunities for Americans.
Nearly three-fourths of cryptocurrency holders in California stated that they are more likely to vote for candidates who support the American cryptocurrency industry. On a nationwide scale, 51% of millennials and Gen Z adults stated that they may support cryptocurrency-friendly candidates in 2024.
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