This is official: crypto is now an argument in the US presidential campaign.

Donald Trump, who just five years ago called Bitcoin a scam and dismissed it because it was “another currency competing against the dollar” seems to have experienced a crypto epiphany. Now advised by David Bailey, CEO of Bitcoin Magazine (the oldest Bitcoin-focused media), the former president is multiplying his pro-crypto claims.

At the beginning of the month, he announced he would start accepting crypto for his campaign, boasting that President Biden “doesn’t even know” what crypto is. Speaking at the Libertarian National Convention on May 26, Donald Trump declared that he “will ensure that the future of crypto and Bitcoin will be made in the USA", and “will support the right to self custody to the nation’s 50 million crypto holders". To be fair, he said many other things at this event and was mostly booed. However, crypto-related statements, as well as the promise to pardon Ross Ulbricht, Bitcoin pioneer and the founder of the darknet marketplace Silk Road, were met with applause. The former president continued by publishing a post in Truth Social saying he was “very positive and open-minded to cryptocurrency companies, and all things related to this burgeoning industry”.

Politics being what it is, few people in the crypto community fall under the illusion that Donald Trump is sincere or even sufficiently knowledgeable about crypto. Rather, his behavior is symptomatic of the rising crypto adoption and the pressing need to gain more supporters before the election. However, now that crypto has become one of his warhorses, its freedom-preserving and economic cases can be presented to a large audience. Whatever the issue of the election, these arguments have the potential to change the public perception of crypto both in the US and abroad, and while the freedom part could be more difficult to defend, the economics is much more down-to-earth.

Here are some arguments that Trump – or any other pro-crypto candidate –  could use.

Crypto to boost finance

Yes, Bitcoin is the natural enemy of the traditional banking system.

The banking lobby was one of the biggest forces keeping Bitcoin and other crypto at bay for many years, feeding politicians with publicly attractive reasons like money laundering or ecology. However, both myths have been debunked repeatedly, making it hard to sustain the narrative. Additionally, more TradFi companies started embracing crypto, reducing the influence of anti-crypto institutions.

Trump’s turncoat comes at a time when Wall Street is increasingly involved in crypto. The US funds manage almost $80 billion of crypto funds – world’s biggest (source: Coinshares). With the SEC approving a spot Ethereum ETF last week, they will soon add the second-biggest cryptocurrency to their offerings. Furthermore, American companies, both traditional and crypto-focused, are actively developing their crypto custody and payment services, further contributing to the sector’s growth.

Crypto to boost technology

The crypto sector extends beyond just money or finance. Social media, gaming, healthcare, or virtually any other industry can leverage blockchain – and the cryptoassets created on it – to progress. However, uncertain regulation is holding back innovation and forces companies to relocate to better-suiting jurisdictions.

In the long term, this could undermine the American tech industry.

Crypto to help maintain the national currency

While Trump worried in 2019 that Bitcoin threatened the dollar, he likely never imagined that it could instead bolster its supremacy.

Indeed, cryptocurrencies are most often traded against stablecoins, and almost all of them are dollar-pegged. This means that crypto markets are indirectly using the US currency and US government bonds (both kept in reserves by stablecoin issuers to maintain the peg).

Crypto to help manage national debt

Probably one of the most intriguing economic cases for crypto is the national debt, which has become a real problem in the US, exceeding $34 trillion.

David Bailey, Trump’s crypto advisor, revealed that the ex-President inquired him if Bitcoin could be leveraged to solve the US debt problem. So far, Mr Bailey hasn’t publicly shared his ideas, but potential moves like adding bitcoin – an almost non-inflationary asset – to the Fed’s reserves could reinforce its stability.

There are many reasons a politician might start advocating for crypto, and probably the biggest one is that nothing can stop an idea whose time has come. They might as well seize this opportunity to score some political points.