Trump’s Crypto Promises vs. Biden’s Crackdown: What Voters Need to Know

As the 2024 U.S. presidential election heats up, a key question looms over the upcoming debates: will cryptocurrency, especially Bitcoin, become a major campaign issue? Despite the crypto industry’s growing influence and significant political contributions, the topic has been noticeably absent from the campaign trail so far.

A recent poll on X (formerly Twitter) by MicroStrategy’s Michael Saylor indicates that 69.3% of respondents believe Bitcoin will be mentioned, highlighting the growing interest and influence of digital currencies in political discourse.

While many crypto enthusiasts anticipated a discussion of their favored asset, the previous debate on June 27 omitted the topic despite intense lobbying from the crypto space. The topics that dominated the debate included economic policies, abortion, immigration, and foreign policy.

Despite the crypto sector’s substantial political contributions, it remained unmentioned. This lack of discussion occurred even though a trio of crypto-backed super political action committees (PACs) raised and spent millions to influence the election.

Fairshake PAC raised $177.8 million and spent $70.8 million, primarily on attack ads targeting congressional candidates. Two other PACs, Protect Progress and Defend American Jobs, collectively spent $22.8 million. Despite their efforts, crypto was absent from the debate.

If elected, Trump has promised to end what he calls Biden’s “war on crypto.” He has even met with Bitcoin miners, expressing his desire for cryptocurrency to be “made in America.” However, some industry figures believe Biden is becoming more favorable towards crypto, despite ongoing enforcement actions from the SEC under his administration.

Crypto is not a top concern for most American voters. Gallup polls indicate that the economy, inflation, government dysfunction, and immigration are more pressing issues. Consequently, this could explain the lack of focus on cryptocurrency in the debates.

Notably, Robert F. Kennedy Jr., an independent candidate with pro-crypto views, was excluded from the CNN debate. He claimed the network had rigged the rules against him and hosted an alternative debate on X. Kennedy proposed using AI and blockchain to reduce government waste, reiterating his commitment to innovative solutions.

Trump and Biden are set to face off again on September 10. Whether cryptocurrency will become a subject of discussion in the election campaigns is still unknown. With the elections due on November 5 including the president, the vice president, 435 House of Representatives, and 34 Senate seats, the stakes are high.