Why embracing Bitcoin would be a low-risk, high-reward strategy for Trump

So what is a CBDC? Why is Trump suddenly talking about it? And what does a digital dollar have to do with Bitcoin and the future of money?

In short, a CBDC is a digital dollar created by the federal government. This may sound benign at first. But effectively giving the government digital control over consumer bank accounts has profound implications for privacy and freedom.

Both the virtue and the vice of a CBDC is that it is a form of programmable money. The programmability of a CBDC could empower governments to micro-target stimulus packages and transmit money more efficiently. But it could also enable governments to manipulate how and where we spend our money, going so far as to turn it on and off.

Nowhere is the threat of a government-controlled digital currency more evident than in China, which was the first major economic power to launch a CBDC. China is currently exploring ways to exploit the “programmable features” of its CBDC, which will empower CCP bureaucrats to put an expiration date on money, restrict spending to certain sectors, and even tie it to a citizen’s social credit score.

In China, a CBDC will enable the kind of central planning Karl Marx could have only dreamed of. It’s no wonder then that Democrats and Republicans alike despise the idea. Having seen the social experiment going on in China, many have a legitimate fear that a CBDC would allow the federal government to control their money and track their spending. That’s why nearly 75% of Americans…