2024

Donald Trump

Biden

<ul> 
 <li aria-level="1">Marathon Digital’s CEO suggests President Biden may negatively impact Bitcoin, contrasting Trump’s pro-crypto stance.</li> 
 <li aria-level="1">Poll labels the 2024 U.S. Presidential election as the “Bitcoin Election” due to digital assets’ influence on politics.</li> 
</ul> 
As the U.S. gears up for the 2024 presidential election, cryptocurrency has become a key issue, reflecting its increased adoption and importance in American society. 
<figure id="attachment_78921" aria-describedby="caption-attachment-78921" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-78921 size-full" title="bitcoin-in-the-2024-u-s-presidential-election" src="https://www.ethnews.com/wp-content/uploads/2024/06/Bipartisan-Political-Issue.png" alt="bitcoin-in-the-2024-u-s-presidential-election" width="1920" height="1080">
 <figcaption id="caption-attachment-78921" class="wp-caption-text">
 Bipartisan Political Issue – Source: Grayscale
 </figcaption>
</figure> 
 According to a Harris Poll survey for Grayscale, the number of cryptocurrency users in the U.S. has experienced rapid growth, showing the significant interest and potential impact of this demographic on electoral outcomes. 
<figure id="attachment_78902" aria-describedby="caption-attachment-78902" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-78902 size-full" title="the-role-of-bitcoin-in-the-2024-u-s-presidential-election-candidates-stances" src="https://www.ethnews.com/wp-content/uploads/2024/06/Statista-US.webp" alt="the-role-of-bitcoin-in-the-2024-u-s-presidential-election-candidates-stances" width="1836" height="1088">
 <figcaption id="caption-attachment-78902" class="wp-caption-text">
 Source: Statista
 </figcaption>
</figure> 
In the current political sector, the approaches of the presidential candidates towards cryptocurrency are sharply divided. Donald Trump <a href="https://www.ethnews.com/donald-trump-taps-crypto-community-for-campaign-funding-boost/">has publicly advocated</a> for cryptocurrency, particularly Bitcoin, emphasizing that the U.S. should lead in bitcoin mining, you can <a href="https://www.ethnews.com/donald-trumps-2024-campaign-focuses-on-u-s-dominance-in-bitcoin-mining/">read our coverage</a> on the topic on ETHNews. His stance has attracted substantial support from the cryptocurrency community, including high-profile donations from figures such as the Winklevoss twins. 
<div class="youtube-embed" data-video_id="pF3oAIb3WnA">
 <iframe title="Bitcoin faces challenges in getting above $68,000 level" width="696" height="392" src="https://www.youtube.com/embed/pF3oAIb3WnA?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div> 
Conversely, President Joe Biden’s administration is perceived by some industry leaders as less favorable to cryptocurrency. Fred Thiel, CEO of Marathon Digital Holdings, expressed concerns in a Yahoo Finance interview about regulatory actions from the Biden administration that seem restrictive to the crypto industry. 
He cited interventions by banking regulators and the SEC, which he believes could constrain the sector’s growth. 
Marathon Digital Holdings CEO with Yahoo Finance said: 
<blockquote>
 “Former President Trump has obviously positioned himself as the candidate that is pro-bitcoin. He believes that all bitcoin should be mined in the US and has been very open in his relationships with bitcoin miners and people in the space.”
</blockquote> 
This differing stance is evident in the broader crypto market’s reactions. Cryptocurrency enthusiasts and investors are <a href="https://www.ethnews.com/donald-trump-meets-bitcoin-leaders-vows-to-support-mining/">closely monitoring each candidate’s policies</a> and their potential implications for the market.&nbsp; 
Commenting on Biden’s administration he noted: 
<blockquote>
 “The Biden administration has been very hostile to bitcoin, through its various agencies, whether is the banking or the so-called ‘Operation Choke Point 2.0’, whether it’s the SEC, etc.”
</blockquote> 
For instance, Trump-associated cryptocurrencies have seen price increases, indicating investor confidence in his crypto-friendly policies. In contrast, cryptocurrencies linked to Biden have not performed as well, reflecting investor apprehensions about stricter regulations. 
<figure id="attachment_78906" aria-describedby="caption-attachment-78906" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-78906 size-full" title="bitcoin-in-the-2024-u-s-presidential-election-candidates-stances" src="https://www.ethnews.com/wp-content/uploads/2024/06/Bitcoin-price-is-higher-than-during-previous-elections.png" alt="Bitcoin-price-is-higher-than-during-previous-elections" width="1920" height="1080">
 <figcaption id="caption-attachment-78906" class="wp-caption-text">
 Compared to November 2023, voters are also more likely to see crypto as a good long-term investment opportunity (23% vs. 19%) and increasingly expect some of their investment portfolio to include crypto (47% vs. 40%). – Source: Grayscale
 </figcaption>
</figure> 
The election’s outcome could have profound implications for the regulatory landscape of cryptocurrencies in the U.S. With each candidate offering distinct visions, the crypto community’s support could be pivotal. As the debate continues, the cryptocurrency market remains a dynamic and influential factor in the 2024 “Bitcoin Election.” 
The post <a href="https://www.ethnews.com/the-role-of-bitcoin-in-the-2024-u-s-presidential-election-candidates-stances/">The Role of Bitcoin in the 2024 U.S. Presidential Election: Candidates’ Stances</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

The Role of Bitcoin in the 2024 U.S. Presidential Election: Candidates’ Stances

ETHNews

Other articles published on Jun 26, 2024

Bitcoin ETFs in US Rebound with $31 Million Net Inflows After Recent Outflows

New Solana Memecoin Donald Bumps Jumps to $270,000 Market Cap, Prepares to Explode Another 14,000...

Bitcoin Surpasses $60,000 Again, Sparking Investor Concerns

MoonBag Coin Takes the Throne Securing Top Crypto Presale in June 2024

Bitcoin Takes A Beating: Another $630 Million Exits, Price Drops Lower

Julian Assange finally free!

Join our free newsletter for daily crypto updates!