Coinbase and MicroStrategy They reported quarterly results on Thursday afternoon. While both companies had mixed numbers, the conference call brought up a familiar topic: the 2024 presidential election.
Coinbase CEO Brian Armstrong was asked about Donald Trump’s speech. Bitcoin in 2024 And what impact will four more years of Democratic rule have on the cryptocurrency regulatory environment?
“Cryptocurrency is really nonpartisan,” Armstrong said. “There are really strong advocates in both parties at this point, and there are some skeptics in both parties, but I would say it’s mostly supporters at this point.”
Earlier this week, Bernstein analysts also said: Cryptocurrencies are no longer a bipartisan issue, Bitcoin-related stocks are also expected to benefit.
Given the changes that have occurred on both sides of the political spectrum this year, Armstrong said, “I feel very fortunate that these political constituencies are now being taken seriously in D.C.”
The Coinbase co-founder says there are 1.3 million people who want to get a crypto candidate elected, and they’re the ones who joined Stand with Crypto, an advocacy group Coinbase started last year.
Stand With Crypto is a 501(c)(4) non-profit organization that aims to mobilize U.S. cryptocurrency owners to advocate for legislation that is favorable to the industry. In May The group launched a political action committee. (PAC) raises funds from its 440,000 members, which are used to support crypto-friendly candidates running for the House and Senate.
“It’s a huge voting bloc,” Armstrong said Thursday. “I think it’s a group of people who felt like they were underserved in the past. They felt like the industry and themselves were under attack. And we’ve seen a shift on both sides. Now, every voter has to make their own decision.”
Sailor, Trump Speech Called ‘Milestone’
Meanwhile, MicroStrategy Chairman Michael Saylor was more supportive of Trump, calling the Republican candidate’s Nashville speech a “landmark.”
“He reaffirmed his custody, and it was also very telling that his policy was not to sell bitcoin,” Seiler said of Trump. “And in terms of the idea of not selling bitcoin, bitcoin becomes the nation’s greatest asset and greatest investment. So bitcoin has really entered the global geopolitical conversation, and Bitcoin Nashville has wrapped it up.”
In addition to President Trump’s keynote address, one of the main highlights of the conference was From Senator Cynthia Lummis. (R-Wyo.) introduced legislation that would require the U.S. government to purchase 1 million bitcoins as a “strategic bitcoin reserve.”
“Four years ago, none of this would have been possible,” Sailor said. “There is a growing consensus that digital property is a right, a natural right.”
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