My thoughts on politicians and bitcoin

I see it as concerning when a politician backs bitcoin, particularly someone as manipulative as Trump. bitcoin has proven it does not need the help of a politician but Trumps words to move all mining to the USA could be very detrimental. Regardless of people in power’s recent change in stance on bitcoin (after all, the writing is on the wall and it’s been proven too difficult to stop) I don’t trust it. Developed countries are now obliged to follow new standards on how energy is used and USA-only mining will make it too costly, particularly if the moves to renewable energy aren’t efficient enough. What’s more it’ll become illegal to mine in countries where energy costs and standards are lower, and the lack of activity on the retail side could need badly.

So is this the move to stop it? A Monday doomsday prediction I know but let me have your thoughts and arguments on this.