30s Summary

MicroStrategy CEO Michael Saylor shared a fake tweet claiming Donald Trump supports crypto tax exemptions. The misinformation originally came from the Twitter user basedkarbon before being spread by Good Morning Crypto to its 26k followers. Saylor further amplified the lie, leading prominent Twitter accounts, including Kraken and Bitcoin Archive, to incorrectly assume it was legitimate. However, in recent interviews, Trump has avoided discussing digital assets. Single-issue voters could play a role in the US election results, as digital currencies may be seen as a solution for economic inflation. Despite previously criticizing Bitcoin, it appears Trump has since changed his stance.

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Hey folks, we’re just days away from the US Election and it seems like social media is buzzing with loads of misleading stuff about the candidates’ views. Michael Saylor, the big shot from MicroStrategy, seemed to tumble into a tweet trap about Donald Trump’s take on crypto tax.

Now, through a tweet on Oct 30th, Saylor circulated this quote – apparently by Trump. It said that crypto shouldn’t be taxed and even called Bitcoin as money. Really, Trump said that!?

A little snooping around suggested that this hoax quote actually started from a Twitter handle named basedkarbon. This account posted on Oct 28th that Trump recently gave out these golden words in an interview.

Next, the dodgy info from this tweet was then spotted on Good Morning Crypto’s handle, who posted it to its 26k followers on Oct. 29. Saylor did his part by sharing it further on Oct. 30 – leading even high-profile Twitter accounts including Kraken and Bitcoin Archive to assume it’s legit.

So why did basedkarbon start this? On Oct. 30, they said about Saylor’s tweet, “this is an example of how info works. Things are true just because someone says they are. The world is just people stating things and making them true.”

We tried to ask Saylor and Trump’s campaign for their thoughts but got nothing back yet.

Just to mention, Trump did two major interviews recently, with Joe Rogan and Sean Hannity on Fox News. While he pondered over the thought of completely eliminating federal income tax on Rogan’s show, he sidestepped talking about digital assets.

So, is it going to make a difference on Election Day?

With the way US Electoral College works, the presidential face-off between Trump and Vice President Kamala Harris might just see neck-to-neck competition in key states like Wisconsin, Georgia, and Pennsylvania. It seems both Harris and Trump might support the crypto industry if elected, but their strategic promises could tip the scale.

As per Grayscale’s chief legal officer Craig Salm, single-issue voters focusing on inflation or economy’s state, looking at crypto as a solution, might impact election results. Considering that crypto can be a hedge against inflation and a value store, such voters are likely be attracted to it now.

In the past Trump hasn’t been kind to Bitcoin, labeling it as ‘thin air’ and even a ‘scam’. However, during his 2024 campaign, he now seems to have warmed up to digital assets, as shown by his speech at the Bitcoin 2024 conference, launch of his non-fungible token collection, and support for BTC miners.

Source: Cointelegraph