As Presidents’ Day is observed in the United States, it sparks curiosity about whether past leaders of the nation would have shown interest in Bitcoin (BTC).
Despite the current President Joe Biden and his predecessor Donald Trump expressing skepticism towards cryptocurrency, some historians believe that certain former presidents might have embraced it.
Luke Nichter, a presidential history expert from Chapman University, identified three names from earlier eras who could have been intrigued by Bitcoin. Nichter clarified that he doesn’t believe any US president would have endorsed Bitcoin as an official currency, as introducing a new form of money typically faces resistance from established authorities.
However, he pinpointed presidents who, due to their perspectives and tendencies, might have been more open to Bitcoin and possibly even invested in it. The first president on the list was Andrew Jackson, the seventh president who served from 1829 to 1837.
Jackson was renowned for his populist approach and his disdain for the financial elites of his time. His opposition to the early version of the Federal Reserve suggests that he might have sympathized with those challenging the existing financial system, such as Bitcoin enthusiasts.
Richard Nixon, the 37th president, was the next figure mentioned by Nichter. Nixon’s decision to detach the United States from the gold standard in 1971 demonstrated his willingness to challenge conventional currency systems.
This unconventional move hints that Nixon might have been open to exploring alternative forms of currency, including cryptocurrencies. Additionally, his own paranoid disposition aligns with the mindset often associated with Bitcoin enthusiasts.
Thomas Jefferson, the founding-era president who served from 1801 to 1809, was also identified as a potential Bitcoin supporter. Efferson’s vision for America emphasized decentralization and agrarian values, contrasting with Alexander Hamilton’s industrialized vision.
Jefferson’s reputation as an experimentalist and his curiosity about various subjects make it plausible to imagine him exploring the world of cryptocurrencies out of sheer curiosity. Regarding presidents who would have opposed Bitcoin, Nichter pointed out Franklin Delano Roosevelt and Woodrow Wilson, both serving as presidents in the first half of the 20th century.
These leaders favored central planning and were preoccupied with addressing plots and conspiracies during their wartime presidencies. They would likely have viewed Bitcoin and its proponents as potential threats to the nation. It is worth noting that Biden recently posted an image with laser eyes on his X and Instagram accounts, which caught the attention of the crypto community.
“Just like we drew it up,” the image was captioned. Biden himself hasn’t directly expressed personal support for cryptocurrencies. However, his administration has initiated efforts to regulate and explore digital assets and central bank digital currencies.
