{"id":134551,"date":"2024-07-31T09:00:39","date_gmt":"2024-07-31T06:00:39","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=134551"},"modified":"2024-07-31T01:54:10","modified_gmt":"2024-07-30T22:54:10","slug":"top-economist-criticizes-republicans-growing-support-for-bitcoin","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/top-economist-criticizes-republicans-growing-support-for-bitcoin\/","title":{"rendered":"Top Economist Criticizes Republicans\u2019 Growing Support for Bitcoin"},"content":{"rendered":"<p>In a recent New York Times <strong><a href=\"https:\/\/www.nytimes.com\/2024\/07\/29\/opinion\/vance-trump-cryptocurrency.html\" rel=\"nofollow\">piece<\/a><\/strong>, Krugman criticized JD Vance, Donald Trump\u2019s vice-presidential pick, for aligning with what he calls the \u201cparanoid\u201d tech elite who are enthusiastic about crypto.<\/p>\n<p>Krugman argues that <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a><\/strong>, despite being around for 15 years, has little economic value aside from illegal uses like money laundering. He is particularly skeptical of Vance\u2019s investment in Bitcoin and recent efforts to push for more favorable crypto regulations.<\/p>\n<p>The Republican party has increasingly supported cryptocurrencies this election year. Trump, at the Bitcoin 2024 conference, suggested Bitcoin might surpass gold in value and promised to create a Bitcoin reserve if elected.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-134535\" href=\"https:\/\/cryptodnes.bg\/en\/goldman-sachs-ceo-calls-bitcoin-speculative-but-firm-expands-crypto-activities\/\" title=\"Goldman Sachs CEO Calls Bitcoin Speculative, But Firm Expands Crypto Activities\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/goldman-sachs-5-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Goldman Sachs CEO Calls Bitcoin Speculative, But Firm Expands Crypto Activities<\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>Krugman, who supports Keynesian economics and government intervention in the economy, dismisses Bitcoin as a \u201cPonzi scheme\u201d and criticizes Trump\u2019s new pro-crypto stance as a reversal from his previous anti-crypto position. He also ridiculed the Republican promise to undo Democratic crypto regulations as confusing to voters.<\/p>\n<p>In response, some Democrats are urging their party to engage more with the crypto sector, recognizing its growing influence as a voting bloc.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Economist Paul Krugman remains critical of Bitcoin, especially amid the recent surge in Republican support for the cryptocurrency.<\/p>\n","protected":false},"author":3,"featured_media":37916,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27,22],"tags":[72,424,234,224,122],"coin_category":[],"class_list":["post-134551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-others","tag-bitcoin","tag-crypto","tag-donald-trump","tag-gold","tag-trump"],"acf":[],"yoast_head":"<!-- This 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cryptocurrency.\" \/>\n<meta property=\"og:site_name\" content=\"CryptoDnes EN\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-31T06:00:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/bitcoin-36-6.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alexander Stefanov\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/x.com\/UoyhIpJ0QUV6uYL\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alexander Stefanov\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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