Will 2024 Be the Year America Elects Its First Pro-Bitcoin President?
American households face a challenging economic environment, primarily driven by persistent inflation. Credit card debt is high, and personal savings rates are low. The Federal Reserve and money itself have become critical issues in the current Presidential race.
The usual questions about government spending and entitlements are part of this conversation. However, this time, two additional variables are in the mix. First is Bitcoin, a viable free-market alternative to central banking and government money. Second is the concept of a Central Bank Digital Currency (CBDC), which the Fed is exploring, presumably to keep up with other central banks doing the same.
In retail form, a CBDC grants the government immense control over money and banking, which would fundamentally transform consumer privacy and the commercial banking system itself.
This election cycle, Bitcoin and CBDCs have broken onto the main stage of national politics. Candidates from both parties, from heavyweights to hopefuls, share their stances on each in statements, speeches, and platforms.