The conversation betwixt Musk and DeSantis, which was moderated by entrepreneur David Sacks, didnโt accomplish liftoff until greaterย than thirty minutes after its scheduled start time, with hundreds of thousands of Twitter users finding their applications crashing and the audio stream glitching.ย Onย theย otherย hand, the chat soonerย orย thereafter got underway, and toward the talkโs tail end, DeSantis leaned into his position as an advocate of cryptocurrenciesย largest coin.
The Florida governor portrayed his support of Bitcoinย (BTC) as a matter of civil liberties, and attempts to restrict cryptocurrency by his opponents as Government overreach.
โYou have every right to do Bitcoin,โ DeSantis stated. โThe only reason these people in Washington doย not like it is because they doย not control it.โ
As the 2024 election season gets underway, DeSantisโ remarks mirror those of Democratic presidential candidate Robert F. Kennedy Jr, who heralded Bitcoinย (BTC) pastย week as an example of democracy and anathema to authoritarians.
On Wednesday, DeSantis touched on the uptick in regulatory enforcement actions that the digital assets industry has confronted so far inย theย year, accusing the Government of attemptingย to purge digital assets to preserve the reign of those in power.
โ Bitcoinย (BTC) represents a threat to them,โ DeSantis stated. โTheyโre attemptingย to regulate it out of existence.โ
DeSantis pledged that if Congress ever tried to institute a ban on โthings like Bitcoinโ by passing new legislation, that he would vehemently oppose it. He likewise stated that theย present administration could snuff out Bitcoinย (BTC) if Biden is reelected.
โ Theย present regime, clearly, they have it out for Bitcoin,โ DeSantis stated. โAnd if it continuesย for another four years, theyโll probably end up killing it.โ
Addressing the political conversationโs shift toward a focus on cryptocurrency, David Sacks noted thereย is a big cryptocurrency audience onย Twitterย platform. Musk interjected toย emphasize thereย is one for โ Dogecoinย (DOGE) too.โ
DeSantis has incorporated remarks against monetaryย authority digitalย currency into his platform over time, echoing statements made by representatives like Tom Emmer and pursuing a ban against government-backed digitalย currencies in Florida.
Monetaryย authority digitalย currencies (CBDC) are similar to assets like cryptoย stablecoins that are pegged to the price of a sovereign currency like the greenback. Onย theย otherย hand, instead of being announced by private corporations on public networks, they are managed by their respective governments or central banks.
Whenย itย comesย to the Federal Reserve, Chairman Jerome Powell has stated a CBDC would โideallyโ receive written approval from Congress. Onย theย otherย hand, DeSantis stated thereย is no wiggle room in terms of that, and it wonโt happen on his watch.
โ Youย need get authorization from Congress,โ DeSantis stated of a CBDC. โI can tell you, if Iโm president, we are not doing a monetaryย authority digital currency.โ
DeSantis underscored his message that a CBDC mayย be used to curtail purchases deemed politically unfavorable in the eyes of those who control the tech, possibly pushing environmental issues or preventing firearm sales.
โI see it as a substantial transfer of power from individual consumers to a central authority, and I doย not think thatโs good for a free society,โ he stated. โIโm a โnoโ on [a] monetaryย authority digital currency.โ
