DeSantis Comes Out In Support Of Bitcoin

Last Thursday, Florida Governor Ron DeSantis took to a Twitter space with Elon Musk and investor/entrepreneur/podcaster David Sacks to announce his campaign for the Presidency. And, although it didn’t break the internet, it definitely did momentarily break Twitter as hundreds of thousands of people streamed into the Space to listen.

Technical issues aside, DeSantis hit on the usuals during the announcement. He talked of Florida’s wins during his reign. He discussed opposing China. He pushed back against the “woke mob”. And, in a welcome move for us, he defended crypto.

Specifically, DeSantis said:

• “The current regime, clearly, has it out for Bitcoin”. This definitely looks true if you’ve been following CoinSnacks this year.

• “And if it continues for another four years, they’ll probably end up killing it”. Killing it is an exagreration, but they’ll definitely push a lot of the crypto industry off our shores and into the welcoming arms of noted US allies like China.

• “Bitcoin represents a threat to them, they’re trying to regulate it out of existence”, which is 100% correct.

• Finally, he vowed to protect the nation from the horrors of a CBDC, something which he has already done in Florida.

These are all positive statements, but the real story here is the growing importance of crypto in the 2024 election:

• Fellow Republican hopeful Vivek Ramaswamy said that he is the only candidate that truly understands crypto.

• Democratic challenger Robert F Kennedy JR is pro-crypto and anti-CBDC.

• President Biden is not a fan of crypto, as seen in his use of “wealthy crypto investors” as fodder for the debt negotiations and attempt to tax bitcoin mining out of existence (which thankfully didn’t make the newest debt deal).

• Former President and current candidate Trump is publicly opposed to crypto, although not opposed enough to stop selling Trump NFTs.

Crypto is now mainstream enough that it is a serious talking point in Presidential elections. The fate of crypto in America could very-well be hanging in the balance. As crypto investors and voters, it’s now up to us to take into account a candidates attitude toward our industry.