Bitcoin (BTC) Becomes a \'Political Force\' as Pro-Cryptocurrency Advocate J.D. Vance Joins Trump\'s VP Race: Michael Saylor
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- 2024-07-20 06:34:29305browse
Michael Saylor, the CEO of software firm MicroStrategy Inc. (MSTR), declared Bitcoin (BTC) a political force, a statement that comes amid significant political developments favoring the world's largest cryptocurrency.
Software firm MicroStrategy Inc. (NASDAQ:MSTR) CEO Michael Saylor on Thursday called Bitcoin (CRYPTO:BTC) a political force, a statement that comes amid key political developments favoring the world’s largest cryptocurrency.
What Happened: Saylor was responding to a New York Post video on the significance of Senator J.D. Vance’s (R-Ohio) vice-presidential candidacy for cryptocurrency.
“Bitcoin is now a political force,” said Saylor, who is also known to be one of the most influential advocates of the digital currency, highlighting its importance as a major poll issue this election.
Earlier this week, former President Donald Trump announced Vance, a known pro-cryptocurrency advocate, as his running mate. Vance is known to hold a large amount of Bitcoin and has been actively pushing legislation favorable to the cryptocurrency industry.
The selection of Vance as a vice-presidential candidate has left the industry buzzing. Founder of Inside Edge Capital, Todd Gordon, went as far as predicting that Bitcoin could cross the $100,000 mark this year, citing the pro-cryptocurrency stance of the potential Trump-Vance presidential ticket.
People in the industry have been showing their support for Donald Trump and candidates who are seen as being pro-cryptocurrency. The Winklevoss twins, who co-founded cryptocurrency exchange Gemini, donated $1 million in Bitcoin to support John Deaton’s political campaign against Senator Elizabeth Warren (D-Mass.). The brothers earlier donated $2 million in Bitcoin to Trump’s 2024 election campaign.
However, not all agree with this approach. Ethereum (CRYPTO:ETH) co-founder Vitalik Buterin took exception to choosing political allegiances based on a candidate’s pro-cryptocurrency stance alone.
Price Action: At the last check, Bitcoin was trading at $63,484.20, down 1.88% in the last 24 hours, according to data from Benzinga Pro.
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