US President Biden, who is seen by the community as hostile to cryptocurrencies, posted a personal portrait photo on a social media platform today, featuring “laser eyes,” seemingly trying to win the favor of young Americans who are friendly towards cryptocurrencies.
Background:
Tianqiao Capital founder shifts support to Biden: The cryptocurrency circle should support him! Trump’s inauguration will “disrupt the US judiciary.”
President Biden’s recent series of statements and policies have been seen by the community as hostile towards cryptocurrencies. 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, the traditional financial system, and the environment.
Last year, the White House 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 a speech.
However, with the 2024 presidential election approaching and Biden’s declining popularity, he seems to be trying to win the favor of young Americans who are friendly towards cryptocurrencies.
Today, Biden posted a personal portrait photo with laser eyes on X platform, sparking discussions in the cryptocurrency community. Some netizens jokingly commented that “Bitcoin is going to replace the US dollar,” while others requested Biden to “pump Bitcoin.”
In fact, in August last year, Biden posted a video of himself holding a coffee mug with a “laser eyes” portrait. The mug was also marked with “2024.” Interestingly, Bitcoin will undergo a halving in 2024, leading some netizens to speculate that Biden’s actions seem to subtly express support for Bitcoin. However, some people believe that Biden himself may not know the true meaning behind “laser eyes” and that it was simply an operation by his PR team.
According to previous reports by Dynamic Zone, “laser eyes” was 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, celebrities such as Tesla founder Elon Musk, MicroStrategy founder Michael Saylor, and Bitcoin warrior in the US Senate Cynthia Lummis changed their profile pictures to images of eyes emitting laser beams.
Extended Reading:
Does Biden really understand Bitcoin memes? He even showed off a “laser eyes” coffee mug and praised its beauty.
Whether Biden knows the connection between “laser eyes” and Bitcoin and whether he supports cryptocurrencies still needs his personal answer. However, 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 multiple research data, it is evident that a large number of California voters and young Americans support cryptocurrencies.
According to Morning Consult data, 8.2 million adult Californians (27% of Californians) own cryptocurrency assets.
The latest Toluna poll showed that California’s cryptocurrency holders represent the next generation of voters in the state, with 40% of them aged between 18 and 34. Approximately 86% of California cryptocurrency holders 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-quarters of California cryptocurrency holders stated that they are more likely to vote for candidates who support the US cryptocurrency industry. Nationwide, 51% of millennial and Generation Z adults said they might support cryptocurrency-friendly candidates in 2024.