Crypto competence in Presidential race: Desantis vs. Ramaswamy battle for Bitcoin support

Crypto competence in Presidential race: Desantis vs. Ramaswamy battle for Bitcoin support

Bitcoin has captured the limelight after the United States presidential candidate Ron Desantis said that he will protect the ability to do things like Bitcoin. After his remarks, Biotech entrepreneur-turned-Republican candidate Vivek Ramaswamy said that he’s the only person who can do this job perfectly. The reasons cited by him are that he understands Bitcoin very well and can do much better than other people. 

As the United States election season gains traction, candidates launch their visions and plans to woo the electors with their lucrative policies. Recently, Ron Desantis launched his campaign on Twitter live with Elon Musk and revealed his intentions toward crypto and Bitcoin management. According to him, there are certainly some risks involved in Bitcoin but the people who are involved in cryptocurrencies are sophisticated and can make decisions for their well-being. “You have every right to do Bitcoin. The only reason these people in Washington don’t like it, is because they don’t control it”, says Desantis during the Twitter live. 

The statement of Ron Desantis took center stage in discussion not just in the United States but also globally. Ramaswamy in his statement said that Desanti’s language used during the live conference shows his lack of understanding of the crypto-dominated world. Additionally, he added that we need a leader in the White House who understands the “why” behind any problem. Ramaswamy claims that DeSantis appropriated several ideas that he developed, including the significance of Bitcoin and the criticism of central bank digital currencies (CBDCs).  

The United States laws related to digital asset management have remained very hazy and lawmakers show divergent views. After the collapse of one of the world’s largest cryptocurrency exchanges, FTX, last year triggered some lawmakers. Lawmakers like Elizabeth Warren took a strict stand against cryptocurrencies and even called for an outright ban on them. 

The race to become a President who understands crypto comprehensively seems to be a big agenda in upcoming elections. Firstly Ron Desantis and now his competitor Ramaswamy claimed that he has more expertise than him in this field. It will be interesting to witness whether Ron Desantis will react or will keep continuing his campaign by pointing out Bitcoin issues from time to time. 

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