With the US elections heating up, politicians are turning to a hot-button issue: cryptocurrency. Some, like Donald Trump facing legal troubles, are using it to potentially distract voters.
Republicans may bash central bank digital currencies (CBDCs) or champion Bitcoin as a symbol of freedom. Democrats might warn of crypto's link to terrorism or, in a surprising move, some might even support it.
As they navigate these strategies, a question on everyone's mind might be: how much is 1 bitcoin worth? The fluctuating value of Bitcoin can significantly impact public and political sentiment.
Matt Gaetz, facing an investigation and reelection battle, recently introduced a bill to let people pay taxes in Bitcoin. This could be a way to modernize the tax system or simply grab headlines.
Donald Trump has completely flipped on crypto. Now campaigning, he's selling NFTs, pushing pro-Bitcoin policies, and may even speak at a major crypto conference. This could be a genuine interest, a way to deflect from legal issues, or both.
President Biden might be getting into the crypto game too. While his stance is unclear, he's discussed digital assets and may be responding to Trump's focus on it. However, unlike Trump, Biden has major national issues to deal with. A major shift in his crypto policy would be a big surprise.
