Upon observing this year’s Mining Disrupt Conference, the attendee list might have surprised you. Instead of the usual mix of hobbyists, professionals, and industry giants, this year’s event hosted an unusual crowd – politicians and their aides. This shift in attendees signaled an unprecedented chapter in Bitcoin’s journey.
Robert F. Kennedy Jr. was among the attendees at the Mining Disrupt Conference, part of his campaign tour to garner more support from the Bitcoin industry while articulating his perspectives on America’s current state. A substantial component of his proposed solutions to counter rampant dollar debasement is centered around Bitcoin.
Back in May, Kennedy also attended the Bitcoin 2023 Conference and took to the stage to address a pertinent issue. He began his speech by saying, “there’s a lot of people who are not in this room for whom Bitcoin may seem like an issue that is too trivial for a presidential campaign.”
Kennedy proceeded to emphasize why Bitcoin is a fitting issue for this point in history. As the influence of the dollar dwindles, other nations are exploring alternative currencies. He pointed out that basic freedoms and liberties are in danger of being overshadowed by government plans for digital currencies and Central Bank Digital Currencies (CBDCs).
This gathering marks a first for Bitcoin’s political journey – its debut as part of the 2024 U.S. Presidential election tour. It is a clear indication that Bitcoin is emerging as a significant issue within political circles.
Three Presidential Candidates Are Pro-Bitcoin
Currently, three emerging presidential candidates are solidly pro-Bitcoin – a first in history. These include a conservative Republican – DeSantis, a Democrat – Kennedy, and a pro-entrepreneur, family-focused Republican, Vivek Gramaswamy. This marks a significant increase from previous elections, making it a landmark vote for Bitcoin.
How Bitcoin will play out as an issue during the campaign is unclear. It may get lost among other issues such as the wall bordering Mexico, the Russian-Ukraine war, gun laws, or any number of other hot topic issues.
Republicans: Ron DeSantis and Vivek Gramaswamy
Republicans have two pro-Bitcoin candidates – Ron DeSantis and Vivek Gramaswamy, vying for the nomination. Despite both being advocates for Bitcoin, current polling numbers show Trump in the lead.
Florida Governor Ron DeSantis has been the most proactive Bitcoin candidate so far, actively promoting it since 2021. He even proposed providing funds in Bitcoin directly to the Department of State. However, despite his relentless efforts and significant fundraising, DeSantis is reportedly laying off campaign staff due to a lack of movement in the polls.
Vivek Gramaswamy has shown a clear commitment to Bitcoin, but a recent declaration of pro-life stance might have shaken off some of his young and female supporters. Given that abortion has been passed on to the states to decide, his declaration could be seen as a misstep.
Trump and Bitcoin
Republicans are counting on Trump as their candidate. Despite his previous negative statements about Bitcoin, there’s speculation that he may commit to Bitcoin adoption. His wife, Melania, has already expressed interest in Bitcoin back in 2022.
Democrats: Robert F. Kennedy Jr. vs. Biden
The Democrats are primarily considering two candidates: the pro-Bitcoin Robert F. Kennedy Jr. and President Joe Biden. Kennedy has been the most vocal Bitcoin supporter and recent polling numbers show his approval rating against Biden rising.
However, Biden is predicted to beat Kennedy for the Democratic nomination. His stance on Bitcoin may rely on his advisors, and it is likely that he will continue on his current path.
A New York Times poll released on July 31st, 2023, showed a tightening of support for Biden among Democrats, but “Biden remains broadly unpopular among a voting public that is pessimistic about the country’s future, and his approval rating is a mere 39 percent.”
“Perhaps most worryingly for Democrats, the poll found Biden in a neck-and-neck race with former President Donald J. Trump, who held a commanding lead among likely Republican primary voters even as he faces two criminal indictments and more potential charges on the horizon.”
Biden and Trump were tied at 43 percent apiece in a hypothetical rematch in 2024, according to the poll.
The same poll shows that Biden had the backing of 64 percent of Democrats who planned to participate in their party’s primary, an indicator of soft support for an incumbent president. 13 percent preferred Robert F. Kennedy Jr., and ten percent chose Marianne Williamson.
The Final Verdict
With more than a year until the November 2024 vote, anything could happen. It is possible that both Biden and Trump will need to adjust their positions on Bitcoin as the world economy continues to evolve.
There are currently 13 declared Republican candidates and three declared Democratic Party candidates, with others listed as being “in the mix.”
BTC Times will be following the campaign for any mentions of Bitcoin, especially in the candidate debates.