Since Donald Trump returned to the US presidency, Bitcoin (BTC) has increasingly gained prominence in the public eye. The businessman has managed to gain the favor of many BTC enthusiasts thanks to his shift toward a more proactive stance, but this approach also raises questions about the long-term sustainability of the relationship between the asset and the state.
It's true that Trump fulfilled several of his campaign promises: he pardoned Ross Ulbricht, the founder of Silk Road who was convicted as a serial killer and took steps to curb state control and surveillance initiatives, such as banning CBDCs (central bank digital currencies), among other measures. However, there are three aspects that Bitcoiners cannot lose sight of.
The first aspect is the always necessary and often forgotten invitation to maintain critical judgment. We can't assume that officials are truly guided by the idea of serving others, leaving their own interests in the background. It's important to recognize the positive aspects that can emerge from politics, but without losing sight of the fact that it is they who must answer to the citizens, never the other way around.
The second point is that, within the framework of universal representative democracy, all governments have an expiration date. Neither Trump nor any other administration will be in power forever, and any positive initiatives they may pursue risk being reversed by their political adversaries, especially in a context as polarized as the current one. Incredibly, this is sometimes forgotten.
Therefore, both companies and users who, under a given administration, relied on the state apparatus to operate with BTC and cryptocurrencies could easily become a target of the state in the future. Politicians come and go, but institutions remain and are not immune to corruption. In this scenario, we must ask ourselves: What real guarantees do I have, as a citizen, that declaring my Bitcoin holdings or using them for legitimate activities such as investing, paying taxes, acquiring property, or financing a business won't be used against me in the future? Who can assure me that a future administration won't use that same information to persecute me or label me a criminal? It's a dilemma that must be discussed.
It's not about promoting absolute isolation between cryptocurrencies and traditional finance, nor about destroying existing bridges, but rather about acting judiciously. We must carefully select where and how to interact with the fiat system, understanding that it's up to the user to take from the system what's useful to them.
This brings us to the third point we've been discussing. No one can predict the future, but it is possible to act cautiously and prepare for the repressive state apparatus. In today's world, having a second passport can represent a practical solution to many of these risks.
For Bitcoiners, especially those with high net worth, obtaining a second citizenship can offer significant advantages in terms of freedom, mobility, and protection from political changes. Should a government decide to tighten regulations on cryptocurrency use or move forward with more aggressive tax policies, having another citizenship offers the opportunity to relocate and diversify risks.
Furthermore, a second citizenship can open the door to greater ease in opening businesses or bank accounts in jurisdictions that are not only more receptive to the ecosystem, but also have clear and predictable legal frameworks. For those with large Bitcoin savings, this can make a substantial difference when it comes to protecting and managing their assets.
It's true that some may never need an additional passport. However, in a world as turbulent as today's, marked by wars, political systems that have become a business, and currencies that continue to lose value, it's impossible to know for sure. In some cases, having this option could even mean the difference between life and death.
Just look at what happened in countries like Venezuela or Ukraine, where millions of people were forced to leave their homes in search of safety or economic stability. In these cases, those with other nationalities were able to emigrate more quickly and rebuild their lives in better conditions. Many of these people are middle-class Bitcoiners who work in the sector and now send remittances to their families in cryptocurrency.
A concrete alternative for obtaining a second passport is " citizenship by investment " programs, available in several countries in exchange for a substantial financial contribution. These options often include the purchase of sovereign bonds, real estate investments, or donations to government funds. Although costs can vary and are generally affordable for those with high purchasing power, this type of investment can be seen more as a strategic move than a simple expense. The relationship between Bitcoin and the state will continue to be, by nature, tense and changing. Therefore, beyond the enthusiasm that some politicians may generate, it is essential that Bitcoiners act with a long-term vision, always maintaining a critical and strategic attitude.
The future is neither delegated nor given away: it is built day by day with informed decisions, adequate tools, and, above all, with the conviction that financial freedom begins with assuming the responsibility to protect it.