The Impact of Bitcoin on the U.S. Presidential Campaign
One of the most important focuses in the U.S. presidential campaign is both parties’ policies regarding Bitcoin and cryptocurrencies. The Trump administration has repeatedly expressed support for digital assets, and its supporters have expressed the same view. Among them is Senator Bill Hagerty, who addressed the upcoming Bitcoin 2024 conference on X (Twitter) today. The event, billed as the world’s largest crypto conference, will be held in Nashville, Tennessee.
Senator Hagerty’s Stance on Cryptocurrencies
During the meeting, which took place in a state represented by Hagerty, the U.S. senator reiterated his support for cryptocurrencies. He noted that Bitcoin and cryptocurrencies are key issues in Washington, D.C. In addition, he also said, “I will continue to work to pass pro-Bitcoin and pro-cryptocurrency legislation that promotes the core principles of freedom, opportunity, and limited governance.”
The Government’s Acceptance of Cryptocurrency Campaign Donations
The announcement comes after the Trump administration began accepting cryptocurrency campaign donations. Since enabling this option, the government has raised more than $4 million through digital assets alone. Earlier this week, Hagerty also said that the Trump administration sees great potential in blockchain technology. He called cryptocurrencies a decisive challenge and said the Biden administration has been “extremely hostile” to it. Despite the strong support from the Trump administration, the cryptocurrency market was largely unaffected by these comments, struggling to close above $2.50 trillion. The decline over the past week cost the market nearly $203 billion.
Also read: US candidate Robert F. Kennedy Jr: “Most of my wealth is in Bitcoin”
