For the first time in US history, a pro-Bitcoin candidate can become president.
Voters’ stance on cryptocurrencies redefines the American political agenda.
The 2024 presidential elections in the United States are already here, and bitcoin (BTC), which was once considered in this scenario as a simple accessory to raise funds within the political sphere, today appears as part of the central issue in the electoral contest.
Bitcoin itself has taken on an unexpected role, since on this occasion it was not left aside by the candidates who included it as a key point in their campaigns. From controversial industry regulation to growing voter interest, Bitcoin’s impact on the electoral process has never been more palpable.
The current environment for the cryptocurrency industry in the United States is complicated. Under Chairman Gary Gensler, the Securities and Exchange Commission (SEC) has taken a firm and confrontational stance.
And, despite the recent approval of spot Bitcoin exchange-traded funds (ETFs), Gensler has continued to dog the industry with lawsuits and has rejected creating clear rules to allow companies to operate legally. This generated a feeling of urgency among presidential hopefuls, who see a possible way out of the controversy with the change in leadership.
In this tense context around regulation, five pro-Bitcoin candidates emerged with a view to the 2024 elections. Robert F. Kennedy Jr., lawyer and environmentalist, not only accepted donations in bitcoin, but also praised the potential of the invention of Satoshi Nakamoto as an economic escape route. He was followed by Ron DeSantis, the governor of Florida, who promised to protect citizens’ right to use bitcoin.
Vivek Ramaswamy, another of the Republicans in the race, as a pre-candidate highlighted the relevance of supporting bitcoin, while the figure of the mayor of Miami, Francis Suárez, emerged as a pre-candidate with interest in promoting the adoption of bitcoin.
However, Donald Trump became the Republican candidateand gained prominence by attacking the current regulationnoting that hostility towards cryptocurrencies is leading companies to leave the country.
For Trump, support for Bitcoin is equivalent to defending the American economy, something that conquered the Bitcoiner spirit, many of whom applauded the Republican’s words because it was precisely what they wanted to hear, as he mentioned in an opinion article. Nicolás Antiporovich in an opinion article, journalist Head of the markets section of CriptoNoticias.
Later, Kamala Harris, the current vice president, became the Democratic party candidate after Joe Biden withdrew from the 2024 presidential election. During their respective campaigns, both candidates defined their stance on the cryptocurrency sector and announced his promises.
The Bitcoin industry and its unprecedented power of influence in an election
The Bitcoin industry is playing an increasingly significant role in the US elections, especially through cryptocurrency donations made by business leaders. This trend reflects a common strategy among influential figures in various sectors, who seek to consolidate their political position and support candidates aligned with their economic interests.
Donations in cryptocurrencies not only represent an investment in the digital ecosystem, but are also part of a pressure dynamic similar to that of other interest groups. By financially supporting certain candidates, leaders seek to influence discourse and legislation affecting cryptocurrencies, which, in turn, strengthens their position in the American political environment.
Thus, Cryptocurrencies are not only shaping the financial landscape, but also the political onebecoming an essential tool in shaping the future of regulation in this field.
According to a Public Citizen reportalmost 44% of total corporate donations to candidate support platforms come from the cryptocurrency sector. This data highlights an unprecedented phenomenon: it is a demonstration that actors in the cryptocurrency industry are determined to influence the outcome of these elections.
“Corporations cannot vote. But the only reason cryptocurrencies are a hot topic in this election cycle is because cryptocurrency companies are spending exorbitant sums to make themselves impossible to ignore.”
Rick Claypool, research director at Public Citizen.
Influential industry names, such as Ark Invest’s Cathie Wood and entrepreneur and investor Mark Cuban, have made significant contributions to the campaigns, reflecting a growing alignment between politics and the world of cryptocurrencies. Meanwhile, support for figures like Vice President Kamala Harris has been more cautious, evidencing a divide in how each party and candidate relates to the digital asset sector.
Bitcoin: a decisive issue on the political agenda
The flurry of candidates and donations around Bitcoin is not only a sign of the evolution of the cryptocurrency debate, but also indicates a shift in voters’ priorities. Surveys show that Cryptocurrency regulation is no longer just a technical issue; has become a critical issue for many voters, who consider it a decisive factor that will influence the election of their candidates.
In short, the 2024 elections mark a turning point where Bitcoin has gone from being a marginal issue to an epicenter of political struggle. With candidates increasingly willing to embrace the cryptocurrency narrative, what’s at stake could be much more than numbers in a market; This is what may be the beginning of the redefinition of the American economy and financial system.
In short, in a political environment in which uncertainty and the change in politicians’ stance towards cryptocurrencies has been seen by many as part of everyday life, the regulation of bitcoin has become a crucial issue for the American electorate. .
This was confirmed by a recent survey conducted by the Digital Currency Group (DCG) consortium, which determined that the perception and understanding of cryptocurrencies were significantly shaping the decisions of voters in several of the most undecided regions of the country.
Fifty-five percent expressed concern that excessive regulation could stifle industry development in the U.S. These tensions reflect the dilemma policymakers face: balancing innovation and consumer protection in a still-developing market. .
The growing interest and influence of Bitcoin on the American political agenda not only highlights the importance of cryptocurrencies to voters, but also the potential impact these decisions will have on the country’s financial future. In an increasingly polarized electoral climate, the approach of candidates towards cryptocurrencies is emerging as a key point in the race for the White House.
