Following President Biden’s “laser eyes” Super Bowl post[1] . [2]
As Bitcoin rallies towards its highest price [3] in two years just weeks before a pivotal Super Tuesday in March, where do each of the candidates stand in relation to the crypto asset class?
Since our last post on election candidates, the field has narrowed substantially. Asof February 12th, there are four major party candidates left: President Joe Biden (Democrat), Dean Phillips (Democrat), former President Donald Trump (Republican), and Nikki Haley (Republican). In addition, outside of the two major parties, polls have Independent Robert F Kennedy Jr. as a potential competitor, polling at above 10% in the general election.[4]
2024 US Presidential Election Candidate Statements on Crypto[5]
President Biden is currently polling at 71% of his party, as of February 13th. Biden’s administration signed an executive order on ensuring the responsible development of digital assets. Additionally, Biden is favorable towards exploring a CBDC and has proposed a 30% tax on the cost of electricity to mine Bitcoin.[18] [19] [20]
A number of Republican candidates dropped out of the race in January. Notably, staunch advocate for the crypto asset class Vivek Ramaswamy ended his campaign and subsequently endorsed Trump (currently polling at 75% in the Republican primaries) . The former President then adopted a negative stance towards CBDC in late January, crediting Ramaswamy for crypto policy guidance.[21] [22] [23] In parallel, Republican candidate Nikki Haley (currently polling at 17%) has not publicly shared her opinion on crypto.[24]
Meanwhile, Independent Robert Kennedy Jr. has called crypto a “major innovation engine.”[25] [26]
In addition to becoming a part of national political discourse, Bitcoin itself has seen increased momentum, and is up over 118% in the past year.[27] Bitcoin halving in April . As we approach the November election, it will be fascinating to see if these tailwinds have an impact on the political spotlight cast on Bitcoin and the crypto asset class, especially in the context of timely global and national macro events. At Grayscale, we will be tracking these developments and how voters’ thoughts evolve, so please subscribe to keep apprised of updates .
[1] Coin Telegraph
[2] Coin Telegraph
[3] Forbes
[4] Poll.qu.edu
[5]
[6] Investopedia
[7] Whitehouse.gov
[8] Whitehouse.gov
[9] Five Thirty Eight
[10] Crypto Town Hall
[11] Five Thirty Eight
[12] Five Thirty Eight
[13] Coindesk
[14] Coindesk
[15] The Street
[16] X Post
[17] The Street
[18] Whitehouse.gov
[19] Tech News 180
[20] Coindesk
[21] Coindesk
[22] Be in Crypto
[23] Barrons
[24] Coin Telegraph
[25] Coin Telegraph
[26] TBS News
[27] Coinmarketcap
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