The cryptocurrency debate is intensifying as the 2024 United States presidential election approaches, with some candidates elaborating on their plans to address the sector going forward.
As digital assets are expected to feature prominently on the campaign agenda, voters are likely to have questions about their preferred presidential candidate’s stance on Bitcoin (BTC) before casting their votes.
Recognizing this, Michael Saylor, the executive chairman of MicroStrategy, commissioned a Twitter poll on May 27 to gauge whether voters believe a presidential candidate must support their right to Bitcoin to secure their vote.
As of May 28, almost 30,000 Twitter users had shared their opinion, with a resounding 84% responding ‘Yes’ to the question, “Will you demand that any presidential candidate supports your right to Bitcoin before earning your vote?” Only 16% of respondents voted in the negative.
The poll can be interpreted as a testament to the public’s strong desire for candidates who actively endorse and promote the utilization of Bitcoin in both political and economic realms.
Crypto regulation and presidential polls
Indeed, the talk on crypto regulation has gathered steam after some presidential candidates from both parties highlighted their intent to develop the sector if elected into office. For instance, Ron DeSantis, the incumbent governor of Florida and a Republican presidential candidate, recently engaged in a Twitter Space alongside Tesla CEO Elon Musk, where crypto was part of the agenda.
In the course of their discussion, DeSantis criticized the approach taken by President Joe Biden towards Bitcoin, expressing concern that the ongoing regulatory crackdown could potentially stifle its growth, stating, “they’ll probably end up killing it”.
Notably, the United States is presently formulating various regulatory proposals for cryptocurrencies, although no definitive legislation has been enacted thus far. Governor DeSantis stressed that he intends to prevent the passage of anti-Bitcoin laws through Congress, highlighting his commitment to preserving Bitcoin’s viability.
Elsewhere, Democratic candidate Robert F. Kennedy has vowed to safeguard the right to hold Bitcoin. According to Kennedy, holding Bitcoin can be equated to civil liberties.
In addition to the focus on regulatory approaches, cryptocurrencies are also playing a role in campaign financing. Ahead of the 2024 race, Kennedy and his Republican counterpart, Vivek Ramaswamy, have announced their acceptance of Bitcoin donations, reflecting the increasing utilization of cryptocurrencies in political campaigns.