If you followed the Massachusetts Senate debate last night, you may have noticed a key exchange between pro-bitcoin candidate John Deaton and his challenger Elizabeth Warren, the leader of the “anti-crypto army” in Washington, DC.
When pressed by Deaton, Warren did not defend herself. After lying and attacking our industry for years, she said “I’m fine if people want to buy and sell cryptocurrencies“. seriously.
What worries me the most at this moment is that it says everything about the Democrats and the lip service they are playing towards the Bitcoin industry.
It’s undeniable that Bitcoin has turned into a mostly partisan issue in this country. Most Democrats have followed Warren in taking a strong stance against supporting Bitcoin (even if they won’t admit it). I suspect that presidential candidate Kamala Harris did the same thing.
Case and point, even Harris this week issued a general statement that “we will support blockchain and digital assets,” while not specifying exactly what she would do to help them.
But wait, I actually put out a new policy proposal yesterday, and to no one’s surprise, it was a race-based proposal that excluded most Americans. It was a flop In industry.
I have to ask at this point, how much more do pro-Democrat Bitcoin supporters need to see?
Clearly, Republicans have embraced this industry. They have put forward legislative proposals in an attempt to promote further innovation in this area. They are defending the industry from attacks coming from Democrats. They attend Bitcoin conferences and events, listen to industry leaders, and buy and hold Bitcoin in person.
They have not been shy about their public support for Bitcoin, and have also made it an official part of their party’s platform. That’s how serious they are.
present Leading Presidential candidate, Donald Trump, has made several pledges to support and grow the industry, and has proposed specific policy on what he would enact if elected.
Earlier this summer, Trump raised $25 million from private individual donors at the 2024 Bitcoin Conference in Nashville (his second highest fundraising campaign across his three campaigns). US bitcoin miners met with Trump at Mar-a-Lago to discuss what they want him to do as president to support their businesses.
While Republicans turned to Bitcoin, we saw the opposite with Democrats. At almost every congressional and senate hearing I watch Democrats Vote against Proper regulation of Bitcoin, and making verbal attacks on the industry.
At a congressional hearing just four months ago, Democratic Congresswoman Maxine Waters actually tried to make the argument that we should be implementing a CBDC, not banning it, because countries like China are embracing it. She described it as the coming “space race.”
It is quite clear to anyone watching the congressional and Senate hearings which side the Democrats have chosen when it comes to Bitcoin versus CBDC.
This is my big fear.
If elected president, I believe Harris will have little reason to support the industry, and every reason to continue attacking it, as she has done as vice president for the past four years.
This election represents a fierce battle for power in the United States of America. People and industries are choosing sides, and if Kamala wins, she may not be so kind to the industries that tried so hard to elect her opponent as president.
If Bitcoin users don’t want the industry to be attacked as it has been the last four years, and to see it thrive over the next four years, they need to make their voices heard at the ballot box next November — and like it or not, they will. Need a Republican vote.
This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.