As the 2024 United States presidential election draws nearer, the discussion around cryptocurrencies is heating up. Candidates are starting to outline their strategies for addressing the cryptocurrency sector in the future.
Since digital assets are expected to be a significant topic during the campaign, voters are likely to seek clarity on their preferred candidate’s position regarding Bitcoin (BTC) before making their decisions at the polls.
Michael Saylor, the executive chairman of MicroStrategy, conducted a Twitter poll on May 27 to determine if voters feel it is essential for a presidential candidate to support their right to Bitcoin in order to earn their vote.
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As of May 28, nearly 30,000 Twitter users participated in the poll, with a clear majority of 84% responding positively to the question, “Will you demand that any presidential candidate supports your right to Bitcoin before earning your vote?” Only 16% of respondents disagreed with this statement.
Poll on right to Bitcoin. Source: Twitter
The poll results strongly indicate that the public has a strong desire for candidates who actively support and encourage the use of Bitcoin in both political and economic contexts. It reflects a widespread sentiment among the public for candidates to embrace and promote the adoption of Bitcoin.
Relationship between crypto regulation and presidential polls
The discussion surrounding crypto regulation has gained momentum as several presidential candidates from both political parties have expressed their intentions to support and advance the cryptocurrency sector if they win the election. For example, Ron DeSantis, the current governor of Florida and a Republican candidate for president, participated in a Twitter Space event with Tesla CEO Elon Musk, where cryptocurrencies were among the topics discussed.
During the discussion, Governor DeSantis voiced his criticism of President Joe Biden’s approach to Bitcoin, expressing worry that the current regulatory crackdown could hinder its development and even lead to its demise, saying, “they’ll probably end up killing it.”
It is worth noting that the United States is currently in the process of formulating different regulatory proposals for cryptocurrencies, but no concrete legislation has been passed yet. Governor DeSantis emphasized his determination to block the approval of any laws that could harm Bitcoin, demonstrating his dedication to safeguarding the future of the cryptocurrency.
Another Democratic candidate, Robert F. Kennedy, has pledged to protect the right to possess Bitcoin, equating it to civil liberties. Besides the discussions around regulations, cryptocurrencies are also becoming involved in campaign financing.
As the 2024 race approaches, both Kennedy and his Republican opponent, Vivek Ramaswamy, have stated their willingness to accept Bitcoin donations, highlighting the growing use of cryptocurrencies in political fundraising efforts.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
