If you had been paying attention to the Massachusetts Senate debate last night, you would have noticed a key exchange between pro-Bitcoin candidate John Deaton and his rival Elizabeth Warren, leader of Washington DC’s “anti-crypto army.”
When Deaton pressed her, Warren didn’t even fight back. After lying and attacking our industry for years, he said: “I’m fine if people want to buy and sell cryptocurrencies..” Oh really.
My big concern with this moment is that it says everything about the Democrats and the words they are saying about the Bitcoin industry.
It is undeniable that Bitcoin has become a partisan issue in this country for the most part. Most Democrats have followed Warren in taking a strong stance against supporting Bitcoin (even if they don’t admit it). I suspect presidential candidate Kamala Harris has done the same.
Case in point, even Harris this week issued a generic “we will support blockchain and digital assets,” without specifying exactly what she would do to help him.
But wait, she actually introduced a new policy proposal Yesterday, to no one’s surprise, it was a race-based vote that excluded the majority of Americans. was a failure in the industry.
I have to wonder at this point: how much more do pro-Democrat Bitcoiners need to see?
Republicans have clearly embraced the industry. They have put forward legislative proposals in an attempt to encourage greater innovation in the space. They defend the industry from attacks by Democrats. They attend Bitcoin conferences and events, listen to industry leaders, and buy and hold bitcoins personally.
They have not been shy in their public support for Bitcoin and have also actively made it an official part of their party platform. That’s how serious they are.
The current major Presidential candidate Donald Trump has made many promises to support and grow the industry, proposing specific policies on what he would enact if elected.
Earlier this summer, Trump raised $25 million from private individual donors at the Bitcoin 2024 Conference in Nashville (his second-largest fundraising in 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.
While Republicans have leaned towards Bitcoin, we have seen the opposite with Democrats. In almost every Congressional and Senate hearing I see, Democrats vote against favorable regulation of Bitcoin and make verbal attacks on the industry.
In a congressional hearing just four months ago, Democratic Congresswoman Maxine Waters tried to argue that we should implement a CBDC, not ban it, because countries like China are adopting it. He called it the next “space race.”
It is very clear to anyone watching these Congressional and Senate hearings which side the Democrats have chosen when it comes to Bitcoin versus CBDC.
This is my great fear.
If elected president, I believe Harris would have little reason to support the industry and many reasons to continue attacking it, as she has done as vice president for the past four years.
This election is a fierce battle for power in the United States of America. People and industries choose their sides, and if Kamala wins, she may not be so kind to the industries that tried so hard to get her opponent elected president.
If Bitcoiners want this industry to not be attacked like it has been over the past four years, and to thrive over the next four years, they need to make their voices heard at the polls this November, and whether they like it or not, they will. I need to vote Republican.
This article is a Carry. The opinions expressed are entirely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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