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Elon Musk shows support for the crypto-loving presidential candidate

Elon Musk shows support for the crypto-loving presidential candidate

Elon Musk, the owner of X (formerly Twitter), SpaceX and Tesla and others, has expressed support for a crypto loving presidential candidate. The multi-billionaire is known for voicing his political opinions more frequently on social media.

Musk supports the Republican presidential candidate

Elon Musk has expressed his admiration for Republican presidential candidate Vivek Ramaswamy on X. In response to an appearance by Ramaswamy on an online show, Musk called him “a promising candidate.The Republican is a proponent of cryptocurrencies, which the Tesla CEO seems to appreciate.

Musk previously indicated his political preference on the platform. The current governor of the US state of Florida, Rob DeSantis, announced during a conversation with the richest man in the world that he will run for president.

Ramaswamy is making crypto an important part of his campaign. One of its goals is a more stable crypto environment to make it easier for investors. According to the presidential candidate, the current regulations are a mess. during one Bitcoin (BTC) conference in May, he announced that his campaign organization would start receiving Bitcoin donations from then on.

Crypto industry support is good for the campaign

Robert F. Kennedy, a relative of the assassinated John F. Kennedy, is also a proponent of cryptocurrencies. The Democrat also announced in his speech at the same Bitcoin conference as Ramaswamy that he would be accepting Bitcoin donations for his campaign. It is not for nothing that both presidential candidates express their preference for crypto.

Many American voters own crypto and are affected by current politics. A campaign objective to improve the crypto industry can generate many votes. DeSantis is also a crypto advocate and aspires to be “The War Between Biden and Crypto” finish.

A Republican President can be a great asset to the crypto industry. The current Securities and Exchange Commission (SEC) is controlled by the Democrats. If Biden-appointed Democrat Gary Gensler is replaced by a Republican, there could be a major reversal in politics. Now both leader Republican Party members have expressed their support for crypto, odds are very good.

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