Bitcoin pioneer Erik Voorhees is puzzled by an unexpected trend. In a post on X this past Sunday, he remarked, “I never would have anticipated a group of Bitcoin enthusiasts turning to protectionism simply because a politician suggested it might boost the economy.”
Voorhees’ observation was triggered by an increasing number of Bitcoin advocates appearing to support tariffs and protectionist policies—an unusual stance considering Bitcoin’s libertarian foundations.
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Ari Paul, founder of BlockTower Capital, added that this trend reflects a larger phenomenon, stating it resembles “watching a significant faction of the libertarian party blatantly adopt fascism over just a few days.” He mentions that a “substantial number of libertarians” are suddenly rallying around a “novel legal argument they’d never encountered previously, all within a week, to support an infinitely powerful chief executive.”
Others were more direct. “Bitcoiners a decade ago: Dismantle the state. Bitcoiners today: Trump made a statement, I’m ecstatic.”
Some claimed these individuals aren’t true Bitcoiners: “The libertarian ideal collapsed for us in 2017. Now it’s mostly just hype traders looking to chase bubbles and make a quick profit.”
One commenter stated, “It became clear when their main political objective shifted to getting the government to acquire more bitcoin instead of safeguarding developers from imprisonment or promoting self-custody.”
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The overarching takeaway from the discussion is that Bitcoin’s foundational ideology may be buckling under political pressure and market speculation. One user wryly remarked how “don’t trust, verify” has morphed into “trust the tariff guy, he has a strategy.”
