The following is what we’re reading: Business Insider
Business Insider has published today a report on the current state of Bitcoin in relation to the U.S. Presidential election. The article is exactly what one would expect from an outlet with a liberal leaning. According to the article, “Trump and Harris have different reasons to try to attract the crypto community”While it may be true that winning the vote would be a good thing for both candidates, I can only say one candidate has done anything to earn it.
This article starts by stating that Bitcoin and cryptocurrency in general are not on the radar of most Americans, something I believe is true. Even though Trump spoke out in favor of this industry at the Republican National Convention, no one was talking about it. The Democratic National Convention also did not discuss it. The majority of voters are more concerned about other issues, such as illegal immigration, inflation, crime and so on. This is changing in many ways, I believe.
Business Insider continues to follow the usual mainstream media narrative, that this is a bunch “crypto bros” What is the best way to do this? “maybe” The vote of an “dogecoin-loving guy” It could decide the next election if you live in a swing-state. Then they flip-flop, joking that just because someone owns $50 of Bitcoin doesn’t mean it will affect their decision on whom to vote in the upcoming elections. However, they ignore two key factors that undermine their insults.
Bitcoin is officially backed by financial institutions such as BlackRock and Fidelity. BlackRock is a major asset manager and doesn’t play games like other companies. “crypto bros” Business Insider has some suggestions. Their spot Bitcoin ETFs are the ones that have made them money. fastest growing ETFs in history. Their ETFs are used by investors of all types, and they want this asset class to soar. They are accumulating a large army of Bitcoin investors who have traditional financial backgrounds.
CNBC has also been promoting earlier this year. reported The majority of Americans do not even have $500 to their name in savings accounts, while 60% only have that amount in checking. CNBC reported that Americans are having a problem with their savings. “The lack of cash in either savings or checking accounts suggests that many Americans are living paycheck to paycheck.” Those with 50 BTC worth of BTC who vote will be able to build up their finances and save. BTC holders should not be discounted because they have a certain amount when voting.
Only Donald Trump is making an effort to reach out to this particular group. Robert F. Kennedy Jr. also promised to support Bitcoin, but dropped out of the race to back Trump. Trump went over and above to win the Bitcoin community’s respect. This includes speaking at a Bitcoin conference earlier this summer in Nashville and promising to assist BTC miners with the power they require for mining.
Kamala Harris, meanwhile, has not said a word about Bitcoin or supported it. She refused to attend the same Bitcoin Conference in Nashville last summer and did not add Bitcoin into the Democratic Party platform as the Republicans have. She has attacked Bitcoin non-stop ever since she and Joe Biden took office almost four years back. Business Insider discusses her silence on Bitcoin but frames it to be more bipartisan as if she will support the industry like Trump.
Here I am in disagreement with most people on the subject. Bitcoin, in my opinion, is an issue that’s purely partisan. When it comes to Bitcoin hearings, I see that most Republicans support it, but the majority Democrats are against it. Democrats are in favour of central bank-issued digital currencies, while the majority of Republicans oppose CBDC. Trump’s strong pro-Bitcoin stance and Kamala’s reluctance to back the Bitcoin industry further prove that there is a clear divide.
Kamala would have supported the industry by now if she had the desire to. Yet, she has not even mentioned Bitcoin in public. She has said she will support “blockchain” According to her recent remarks, Harris is referring to CBDC rather than Bitcoin. This makes sense based on previous hostility and Democratic voting patterns. Harris’ campaign hinted at supporting bitcoin a couple of times in recent months but did not follow through.
Which leaves me to believe that if she wanted to support this industry, she would have by now — no excuses. Trump was at PubKey, an NYC themed Bitcoin bar. purchasing The Bitcoin Lightning Network was used to buy burgers, drinks and other food for the entire group. This happened just days after a failed assassination. The stances of Trump and Kamala are clear if Trump is able to do so, but Kamala cannot even say Bitcoin in front a mic and camera.
Business Insider concludes the article after pointing out all the shortcomings of Kamala in her support for the Bitcoin industry. “What Harris or Trump will actually do on crypto is unclear, but that’s not really the point right now.” It’s pure gaslighting, given that Trump has made clear his policies, while Kamala is not. Since she failed to outperform him when it came to trying to gain this vote, the media tries to shift to say that ‘that’s really not the point at this time, that’s what’s important’. What matters is the issue. Over 50 million Americans own Bitcoin or crypto. They are located all over the United States and they want to see their interests promoted this November. Bitcoin may not be a priority for most Americans, but it certainly is for people who are interested in the asset class. They are a dedicated group of voters who will not compromise on their issue.
Kamala doesn’t seem to care about this industry.
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Source: bitcoinmagazine.com
