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If you were watching the Massachusetts Senate debate last night, you would have noticed an important exchange between Bitcoin candidate John Deaton and his opponent Elizabeth Warren, the leader of Washington DC’s “anti-crypto army”.
When pressed by Deaton, Warren didn’t even want to defend himself. After lying and attacking our industry for years, he said “I’m fine if people want to buy and sell crypto.” Seriously.
My biggest concern at this point is that it says everything about the Democrats and the lip service they are playing to the Bitcoin industry.
It cannot be denied that Bitcoin has become a major 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 has done the same.
Case in point, even Harris this week issued a generic “we’re going to support blockchain and digital assets,” while not specifying what he would do to support it.
But wait, he actually proposed a new policy yesterday, and to no one’s surprise, it was a race that didn’t involve most Americans. It was an industry flop.
I have to ask at this point, how much pro-Democrat Bitcoiners need to see?
Republicans have clearly embraced industry. They have put forward legislative proposals in an effort to encourage innovation in the space. They protect the industry from attacks from Democrats. They attend Bitcoin conferences and events, listen to industry leaders, and buy and hold bitcoin in person.
They have not been shy in their public support of Bitcoin, and have actively made it an official part of their team platform. They are determined like that.
The current front-runner for the position of president, Donald Trump, has made many promises to support and grow the industry, proposing a specific policy of what he will stop if elected.
Earlier this summer, Trump raised $25 million from private donors at the Bitcoin 2024 Summit in Nashville (his second-largest fundraiser of his three campaigns). American Bitcoin miners met with Trump at Mar-A-Lago to discuss what they need him to do as president to support their businesses.
Where Republicans lean on Bitcoin, we’ve seen the opposite with Democrats. In almost every Congressional and Senate hearing I watch, Democrats vote against positive Bitcoin regulation, and verbally attack the industry.
In a congressional hearing four months ago, Democratic Congresswoman Maxine Waters really tried to make the case that we should use CBDC, and not block it, because countries like China are accepting it. He called it the next “space race.”
It is very clear to anyone who has watched these congressional and senate hearings which side the Democrats have chosen when it comes to Bitcoin vs CBDC.
This is my biggest fear.
If elected president, I believe Harris will have less reason to support the industry, and more reason to continue to attack it, as he has done as vice president for the past four years.
This election is a tough battle for power in the United States of America. People and industries are choosing their sides, and if Kamala wins, she may not be so good for the industries that tried so hard to get her rivals elected president.
If Bitcoiners want to see this industry not attacked as it has been for the past four years, and to see it grow well over the next four years, they need to make their voices heard at the ballot box in November – and, like it or not, they do. they must vote Republican.
This article is a Take it. The views expressed are entirely those of the author and do not reflect those of BTC Inc or Bitcoin Magazine.