Elon Musk Shows Public Support For Pro-Crypto Presidential Candidate
August 19 2023 - 12:10PM
NEWSBTC
X (formerly Twitter) owner Elon Musk is known to have an underlying
interest in politics and cryptocurrencies. And this time around,
the world’s richest man has showered praises on a pro-crypto
candidate. Elon Musk Compliments Pro-Crypto Ramaswamy Elon
Musk revealed his admiration for Republican Presidential Candidate
Vivek Ramaswamy in response to a clip of Ramaswamy’s appearance on
Tucker Carlson’s online show posted on the X platform. In the
tweet, Musk labeled him “a very promising candidate.” Related
Reading: XRP Pain May Not Be Over Following This Decision In The
Ripple Vs SEC Case This isn’t the first time the world’s richest
man has shown public support for a pro-crypto candidate, as Florida
Governor Ron DeSantis was meant to announce his presidential bid
during a chat with the Tesla CEO. Meanwhile, Ramaswamy is known to
have taken a pro-crypto stance since the beginning of his campaign.
As part of his campaign, he has promised to create a more viable
environment for the crypto industry in the US. The
presidential candidate has gone as far as incorporating Bitcoin
donations into his campaign funds. During a Bitcoin 2023 conference
in May, he announced that his campaign committee was “officially”
accepting Bitcoin donations. Interestingly, another
presidential candidate Robert F. Kennedy also announced that his
team was accepting Bitcoin donations during this conference.
Total market cap sees a slight recovery to $1.038 trillion |
Source: Crypto Total Market Cap on Tradingview.com Crypto A Focal
Point Ahead Of Next Year’s Elections Cryptocurrencies have
continued to gain more attention in the political sphere ahead of
the 2024 US elections. This isn’t surprising, considering that many
US voters are said to be actively invested in digital assets.
Last year, a poll conducted by the crypto-focused political group
GMI PAC revealed that 44% of US voters own or are considering
owning digital assets. As such, it is expected that politicians
will be looking to target this group of voters. Presidential
candidates like Ramaswamy and Kennedy have shown their inclination
toward crypto. Kennedy, for one, has described cryptocurrency as a
“symbol of democracy and freedom.” Republican Presidential
Candidate Ron DeSantis is another huge fan of Bitcoin. The Governor
has promised to end “Biden’s War on Bitcoin” if elected. He also
believes every citizen should have the right “to do Bitcoin,” as he
mentioned during an X space with Elon Musk. Related Reading:
Shibarium Launch Saga: Block Production Resumes Despite Stuck ETH
Furthermore, there is reason to believe that the outcome of the
2024 elections could significantly impact the crypto industry going
forward. Former SEC Attorney John Reed Stark has predicted that the
SEC’s clampdown on crypto firms could become a thing of the past if
a Republican gets elected as President next year. This
prediction may not be far-fetched considering that two of the front
runners for the Republican Presidential ticket (DeSantis and
Ramaswamy) have publicly shown their support for
cryptocurrencies. Featured image from India Times, chart from
Tradingview.com
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