Pro-Bitcoin Politician Drops Out of Race: Now What for Crypto?

The first Republican candidate withdraws from the race for the US presidency. This time it’s Francis Suárez, a politician who is open to it Bitcoin (BTC).

Bitcoin and the US elections

Suárez announced his decision by a News on social media platform X, formerly known as Twitter. The Mayor of Miami previously announced that he would accept Bitcoin donations for his presidential campaign. Part of his campaign was to stay one step ahead of his fierce resistance Central bank digital currencies (CBDC’s). According to Suarez, such digital coins can cause major privacy issues.

At 45, Francis was relatively young for a presidential candidate. The Cuban was disqualified for the first Republican debate because he failed to reach the 1 percent threshold in the qualifying polls.

Multiple Pro-Bitcoin Presidential Candidates

Francis Suarez isn’t the only presidential candidate endorsing Bitcoin. Robert F. Kennedy Jr. is also participating and has expressed his love for the digital currency on numerous occasions. During a recent session with Scott Melker, a prominent trader, revealed Kennedy Jr. that he bought two bitcoins for each of his seven children. At the current price, this equates to a value of $413,000.

Kennedy Jr. is a cousin of former President John F. Kennedy. He has also proposed ambitious policy plans to peg Bitcoin to the US dollar. In doing so, he suggested backing some US Treasury bonds with hard currencies, including bitcoin. In addition, presidential candidate Vivek Ramaswamy is not averse crypto. Ramaswamy, who is known for campaigning for clearer crypto regulation, recently announced he would be accepting Bitcoin donations for his campaign. Elon Musk, CEO of Tesla and SpaceX voiced on his social media platform X his support for the Republican candidate.

The growing interest of voters in cryptocurrencies makes them a key topic in the run-up to the election. With two prominent Republican candidates backing the cryptocurrency, an eventual win could mark a positive turn for US crypto regulation.

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