Elon Musk Warned: Bitcoins Fate Tied to Joe Bidens Reelection, Says Ron DeSantis

Elon Musk Warned: Bitcoins Fate Tied to Joe Bidens Reelection, Says Ron DeSantis

Elon Musk and Florida Governor Ron DeSantis discuss digital assets, including Bitcoin and central bank digital currencies, in a conversation moderated by entrepreneur David Sacks.

Elon Musk’s heart-to-heart with Republican presidential nominee and Florida Governor Ron DeSantis culminated with a focus on digital assets—touching on Bitcoin (BTC) and the digital dollar, with a Dogecoin (DOGE) reference thrown in for good measure.

The conversation betwixt Musk and DeSantis, which was moderated by entrepreneur David Sacks, didn’t accomplish liftoff until greater than thirty minutes after its scheduled start time, with hundreds of thousands of Twitter users finding their applications crashing and the audio stream glitching.  On the other hand, the chat sooner or  thereafter got underway, and toward the talk’s tail end, DeSantis leaned into his position as an advocate of cryptocurrencies  largest coin.

The Florida governor portrayed his support of Bitcoin (BTC) as a matter of civil liberties, and attempts to restrict cryptocurrency by his opponents as Government overreach.

“You have every right to do Bitcoin,” DeSantis stated. “The only reason these people in Washington do not like it is because they do not control it.”

As the 2024 election season gets underway, DeSantis’ remarks mirror those of Democratic presidential candidate Robert F. Kennedy Jr, who heralded Bitcoin (BTC) past 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 in the year, accusing the Government of attempting to purge digital assets to preserve the reign of those in power.

“ Bitcoin (BTC) represents a threat to them,” DeSantis stated. “They’re attempting to regulate it out of existence.”

DeSantis pledged that if Congress ever tried to institute a ban on “things like Bitcoin” by passing new legislation, that he would vehemently oppose it. He likewise stated that the present administration could snuff out Bitcoin (BTC) if Biden is reelected.

“ The present regime, clearly, they have it out for Bitcoin,” DeSantis stated. “And if it continues  for another four years, they’ll probably end up killing it.”

Addressing the political conversation’s shift toward a focus on cryptocurrency, David Sacks noted there is a big cryptocurrency audience on Twitter platform. Musk interjected to emphasize there is one for “ Dogecoin (DOGE) too.”

DeSantis has incorporated remarks against monetary authority digital currency into his platform over time, echoing statements made by representatives like Tom Emmer and pursuing a ban against government-backed digital currencies in Florida.

Monetary authority digital currencies (CBDC) are similar to assets like crypto stablecoins that are pegged to the price of a sovereign currency like the greenback. On the other hand, instead of being announced by private corporations on public networks, they are managed by their respective governments or central banks.

When it comes to the Federal Reserve, Chairman Jerome Powell has stated a CBDC would “ideally” receive written approval from Congress. On the other hand, DeSantis stated there is no wiggle room in terms of that, and it won’t happen on his watch.

“ You need get authorization from Congress,” DeSantis stated of a CBDC. “I can tell you, if I’m president, we are not doing a monetary authority digital currency.”

DeSantis underscored his message that a CBDC may 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.

“I see it as a substantial transfer of power from individual consumers to a central authority, and I do not think that’s good for a free society,” he stated. “I’m a ‘no’ on [a] monetary authority digital currency.”


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