The cryptocurrency market has been growing at very fast rates during the last years. There have been new coins issued and Bitcoin reached new highs in 2017. Although 2018 was not a good year for the most popular digital currency, its fundamentals continue to grow.
As the U.S. elections are getting closer each month, it is important to understand and know what potential candidates think about the cryptocurrency space and Bitcoin (BTC). The next president of the U.S. could be a supporter of the cryptocurrency space or just impose harder regulations for Bitcoin to fall.
Cory Booker is one of the democratic candidates that could be participating in the upcoming campaign. However, Senator Booker did not give an opinion about Bitcoin and the cryptocurrency industry. However, he currently sits on the Senate Commerce Subcommittee on Communications Technology, Innovation and the Internet. During the next months, he might provide some information about what he thinks about the cryptocurrency space.
Tulsi Gabbard is also another candidate for the Democratic Party that could eventually be elected as President of the U.S. Gabbard invested in at least two virtual currencies, Ethereum (ETH) and Litecoin (LTC). She informed that when the market was reaching its all-time high in December 2017. At that time, Bitcoin was reaching $20,000 and Litecoin was traded close to $420. Meanwhile, Ethereum reached $1,400 during January 2018.
Due to the fact that the crypto market operated in a downtrend throughout 2018, she might have changed opinion regarding virtual currencies. Although she did not mention anything special about virtual currencies, she seems to be interested in the market and how it operates.
Elizabeth Warren is also a democratic representative that could be running for president of the United States if the party decides to vote for her during the primaries. Senator Warren criticized virtual currencies and the crypto space in the past. Indeed, she mentioned that regulators should do more to control the cryptocurrency market. The Senator says that the volatile nature of virtual currencies could harm investors, retailers, and consumers.
She has also criticized Initial Coin Offerings (ICOs). ICOs have expanded in the market at the end of 2017 and the beginning of 2018. Hundreds, if not thousands of projects released their tokens to the market for investors to purchase them. Nevertheless, most of them were not able to even release a working product and most of them disappeared leaving investors without their funds.
It seems that Donald Trump will also be running as president of the United States. The US President has never talked about cryptocurrencies and he has never provided his own thoughts about them. However, there are several members of his administration that were very bullish on the cryptocurrency space and virtual currencies.
Mick Mulvaney, White House Chief of Staff, praised Bitcoin saying that it cannot be manipulated by any government. At the same time, Steve Bannon, the former White House adviser, revealed that he owned a certain amount of Bitcoin and that he wanted to launch utility tokens. Furthermore, Peter Thiel, part of the Trump transition team, said that Bitcoin is digital gold and that he invested in several blockchain projects in the market.
At the moment, there are no Republican candidates that want to stand against Donald Trump in the elections that are going to take place in 2020. However, there are some independent candidates that are also trying to promote virtual currencies.
John McAfee has been always interested in Bitcoin and virtual currencies. He is a recognized figure in the cryptocurrency space and has been working in different blockchain related projects during the last years.
He stated that Bitcoin is going to hit $1,000,000 by the end of 2020. He has also attempted in the past to run for president. Now, he started a new campaign to become the US president running it from international waters in order to avoid the Internal Revenue Service (IRS) that is looking after him.