Key Takeaways
- Bitcoin enters U.S. presidential politics as a major 2024 issue.
- Donald Trump advocates for Bitcoin-friendly policies, including a national Bitcoin reserve.
- Crypto-focused PACs have raised over $253 million this election cycle.
For the first time, Bitcoiners are actively engaging in the U.S. presidential election, as candidates like Donald Trump make Bitcoin a campaign issue.
In a recent podcast, Bitcoiner Troy Cross highlighted the growing political presence of Bitcoin advocates.
Troy said:
One in seven Americans hold #Bitcoin… We are everywhere, and we are many in number.
Bitcoin in the spotlight
Trump has brought Bitcoin into the spotlight, arguing it is essential for the U.S. to retain its economic edge amid China’s digital asset advancements.
His promises include a regulatory environment favorable to Bitcoin, support for tech jobs, a national Bitcoin reserve, and a pardon for Bitcoin advocate Ross Ulbricht.
RFK Jr.
Robert F. Kennedy Jr., another prominent Bitcoin supporter, has voiced his stance on Bitcoin, especially during the 2024 Bitcoin Magazine Conference, though his main platform focuses on public health.
Meanwhile, Democrats, including Kamala Harris, have shown limited engagement on Bitcoin, with Harris mentioning the asset briefly without a defined stance.
Pennsylvania’s bill
A significant milestone is the bipartisan support for Pennsylvania’s recent “Bitcoin Bill of Rights,” which is being promoted by Bitcoin-focused PACs in this swing state.
Dennis Porter from the Satoshi Action Fund views the bill as a foundational move toward integrating Bitcoin into U.S. finance.
Crypto-focused PACs have raised over $253 million this election cycle, demonstrating the growing influence of Bitcoin supporters in shaping pro-Bitcoin policies.
