Bitcoin Must Be Embraced By Both Political Parties
To investors, The beauty of bitcoin is that technology is apolitical. It doesn’t care what political party you pledge your allegiance. It doesn’t care what rules politicians put in place. Bitcoin doesn’t care who the President of the United States is at any given moment. And the digital currency does not care which countries support it or attack it. Bitcoin continues to produce block-after-block of transactions. The network operates 24/7/365 exactly how it was designed. This apolitical nature of bitcoin has historically kept the asset out of the political conversation. As Michael Jordan once said, republicans and democrats both buy sneakers. It has been positive for bitcoin that neither political party was embracing the technology. This changed in recent months though. Republicans have been diligently working to become the most pro-bitcoin/crypto political party. Donald Trump, the Republican nominee for President, has explicitly said he is the pro-crypto candidate. And now the rest of the Republican party is taking it a step further. The 2024 GOP Platform was recently announced. Here are their 20 promises in the forward-looking agenda:
None of these promises should shock the American people. They are common talking points from the Republican party. Obviously, citizens who lean right will be excited by these ideas and citizens who lean left will be less thrilled. That is how politics works and none of us here are going to change that. But buried deep in this Republican platform was a single paragraph that caught the attention of bitcoiners around the world — as part of building the greatest economy in the world and championing innovation, Republicans wrote:
Again, put aside your personal political beliefs. It is shocking that this paragraph would be written by either major political party in the United States. We were told for years that the US government was going to ban bitcoin. The government would shut it down and be highly abrasive. Instead, it appears the government is going to embrace the asset and network. A political party representing approximately half of Americans is talking about opposing CBDCs, defending the right to mine, protecting self-custody, and empowering user privacy. It is unfortunate that these ideas are only being promoted by Republicans. The time has come for Republicans and Democrats to mutually agree on these important concepts as core tenants for the American population moving forward. Bitcoin used to be apolitical because neither political party cared about the asset or network. Now that the Republicans are leaning in to support it, Democrats must do the same so we can return bitcoin to an apolitical position that has the highest possibility of positively impacting hundreds of millions of Americans. Some of you will think I am dreaming and you will argue the potential future I am highlighting is impossible to achieve. You will say politicians never agree across the aisle. Maybe I am naive, but hopefully not. An asset that can protect the purchasing power for so many people shouldn’t be embraced by only one side of the aisle. Hope you all have a great day. I’ll talk to you tomorrow. -Anthony Pompliano Nile Lundgren is the star of the new show on Netflix called "Owning Manhattan" and is one of the top luxury real estate agents in the world. He has sold billions of dollars of real estate. In this conversation, we talk about the similarities between bitcoin & luxury real estate, scarcity, psychology, inflation, macro economy, interest rates, and filming "Owning Manhattan". Listen on iTunes: Click here Listen on Spotify: Click here Owning Manhattan’s Nile Lundgren on Luxury Real Estate and BitcoinPodcast Sponsors
You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren’t finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research. You're currently a free subscriber to The Pomp Letter. For the full experience, upgrade your subscription. |
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