Bitcoin is at the top of the world’s political agenda

“First they ignore you, then they laugh at you, then they attack you, then you win.” This phrase perfectly describes the history of Bitcoin and serves as one of those maps that indicate your location in the middle of a park: “you are here.”

It is often said that Bitcoin has already won, especially due to the technical difficulty of slowing down the network. However, on a political-social level, it could be said that We find ourselves in that imprecise, uncertain, uncomfortable place, between “they attack you” and “then you win.”

We come from a first half of 2024 in which, by court order, developers have been arrested, others have been imprisoned, and in which the general feeling was one of criminalization of privacy. Half a year in which companies have stopped operating in countries due to alerts that are perceived as threats.

But suddenly, Politicians have given a 180º turn. The Joe Biden administration in the United States has approved regulations seemingly favorable to the industry, and has begun exploring the possibility of accepting BTC donations for its campaign. This is probably to compete with a convert Donald Trump, who, also, after being against Bitcoin, has become a staunch defender, using it as an electoral campaign banner, not only to attract votes, but also to finance it.

The approval of Bitcoin spot ETFs, not only in the United States, but also in Hong Kong, and Australia (countries that join other markets such as Canada, Brazil, Switzerland, Germany and others), has given Bitcoin a new degree of legitimacy in the establishment global political and financial sector, thanks in large part to BlackRock’s leadership in the sector.

Like wolves in sheep’s clothing, politicians around the world are changing their approach to the digital asset. Countries where it was once banned, such as Bolivia, are now promoting it. In Germany, parliamentarians are attending classes on Bitcoin. The Prime Minister of Japan is a speaker at industry conferences. Other Latin American countries, such as Paraguay and Suriname, are following El Salvador in making Bitcoin legal.

Little by little the narrative that Bitcoin is criminal money is being forgotten, suggesting the transition from the attack phase, mentioned above, towards the “then you win” phase.

This happens for one simple reason: Bitcoin is money. The best money ever created. And politicians need money.

Beyond wanting to capture the votes of that significant part of the American electorate that owns bitcoin, the entry into the market of heavyweights such as BlackRock, Fidelity, Ark Investments, Goldman Sachs, among others, changes the rules of the game in the long term. Now, the interest groups (and financing groups) that benefit from Bitcoin’s success have an unprecedented level of influence. And with that, the prospects for price growth multiply. Money calling for money.

Politicians don’t need to understand that Bitcoin is the best money to understand where the world is headed. And while Bitcoin’s ultimate goal is to separate money and the state, It seems inevitable to go through a transition phase in which the State itself adopts Bitcoin. If, as he is saying in his campaign, Donald Trump wins the presidency and promotes Bitcoin as an issue of national interest, the domino effect on the rest of the countries in the world will be inevitable.

We cannot know how long this awkward transition stage, in which we will have to deal with the nationalization of Bitcoin or the bitcoinization of the State, will last. But with the speed at which events have occurred in the last fifteen years, it seems that the “then you win” phase, i.e. the separation of money and the State, may be closer than we think.