Elon Musk Supports Bitcoin-Friendly U.S. Presidential Candidate

• Elon Musk, in response to a video clip of Republican presidential candidate Vivek Ramaswamy on Tucker Carlson’s online show, shared a tweet on the X platform tagging him as a “very promising candidate.”
• It is known that Ramaswamy has maintained a crypto-friendly stance since the beginning of his campaign. As part of his campaign, he promised to create a more favorable environment for the crypto industry in the United States.
• Last year, a poll conducted by a crypto-focused political group indicated that 44% of U.S. voters either own or are considering owning digital assets. Therefore, politicians are expected to target this voter group.

Bitcoin and cryptocurrencies are becoming the focus of the 2024 U.S. presidential election, potentially overshadowing the SEC’s actions.

Elon Musk, Supporter of Bitcoin-Friendly Candidate

Elon Musk, the owner of X (formerly known as Twitter), is known to have a fundamental interest in both politics and cryptocurrencies. This time, the world’s richest man is praising a crypto-friendly candidate.

Elon Musk, in response to a video clip of Republican presidential candidate Vivek Ramaswamy on Tucker Carlson’s online show, shared a tweet on the X platform tagging him as a “very promising candidate.”

This isn’t the first time that the world’s richest individual has expressed support for a crypto-friendly candidate, as Florida Governor Ron DeSantis was set to announce his presidential campaign during a conversation with the Tesla CEO.

Meanwhile, it is known that Ramaswamy has maintained a crypto-friendly stance since the beginning of his campaign. As part of his campaign, he promised to create a more favorable environment for the crypto industry in the United States.

This presidential candidate has even gone as far as incorporating Bitcoin donations into his campaign funds. In May, during the Bitcoin 2023 conference, the campaign committee officially announced that it would accept Bitcoin donations.

Interestingly, another presidential candidate, Robert F. Kennedy, also announced during the same conference that his campaign would accept Bitcoin donations.

Focus on Bitcoin and Cryptocurrencies

As the 2024 U.S. elections approach, cryptocurrencies continue to garner more attention in the political arena. This is not surprising, as it is said that many U.S. voters are actively investing in digital assets.

Last year, a poll conducted by a crypto-focused political group indicated that 44% of U.S. voters either own or are considering owning digital assets. Therefore, politicians are expected to target this voter group. Candidates like Ramaswamy and Kennedy have showcased their inclinations towards crypto. For instance, Kennedy defined cryptocurrency as a “symbol of democracy and freedom.”

Republican presidential candidate Ron DeSantis is also a strong supporter of Bitcoin. If elected, DeSantis pledged to end the “War on Bitcoin” by President Biden. He also stated in a live stream with Elon Musk that he believes every citizen should have the right to “hold Bitcoin.”

Moreover, it is believed that the outcome of the 2024 elections could significantly impact the crypto industry. Former SEC Attorney John Reed Stark predicted that if a Republican president is elected next year, the stringent regulation of crypto companies by the SEC could become a thing of the past.

Considering that the two leading contenders for the Republican presidential candidacy (DeSantis and Ramaswamy) have publicly supported cryptocurrencies, this prediction might not be far-fetched.