As the US presidential election fast approaches, the identities of the candidates are emerging. Some like Vivek Ramaswamy come across as actively supporting the crypto industry. However, it is debatable whether their policy really echoes this support.
Vivek Ramaswamy, really pro-crypto?
Cryptos are at the heart of the US presidential election scheduled for November 2024. An electoral deadline which, on analysis of official declarations of candidacy, could be crucial for the evolution of the crypto industry.
Indeed, some of the candidates openly present themselves as supporters of the crypto industry. This is the case of the Republican Ron DeSantis, current governor of the State of Florida. This is also the case of Robert Francis Kennedy Jr who advocates bitcoin in the face of the emergence of a CBDC.
Another name, less well known on the political scene than the two previous ones, follows the same logic. This is the Republican Vivek Ramaswamyan entrepreneur of Indian origin, very close to the American pharmaceutical industry.
In a recent tweet, Elon Musk presented Vivek Ramaswamy as a very promising candidate. Support that we imagine is linked to the atypical pro crypto position of the candidate.
Because the entrepreneur believes in cryptos. Assets in which he himself has invested funds. Additionally, Vivek Ramaswamy has agreed to use bitcoin to fund his campaign. This demonstrates its commitment to a more inclusive financial landscape.
Vivek Ramaswamy: unexpected savior or enlightened skeptic?
Despite this support displayed for cryptos, would Vivek Ramaswamy be the solution to the challenges facing this industry? Based on his very liberal political line, one is tempted to answer in the affirmative.
Indeed, Vivek Ramaswamy defends a political position à la Donald Trump. As such, the candidate poses as a defender of the” business spirit “ and “unorthodox ideas”. Principles dear to players in the crypto industry.
However, could Vivek Ramaswamy be the messiah who would save the crypto industry from these problems? One could doubt it if one believes his real convictions in these assets. Unlike Robert Francis Kennedy Jr., Vivek Ramaswamy does not see bitcoin as the solution to America’s economic challenges.
At the Bitcoin 2023 conference, the entrepreneur clearly defended this position. For him, bitcoin (BTC) is not a safe bet on which to bet the economic growth of the United States.
“I think bitcoin, for me, for a number of reasons, doesn’t fit that commodity basket yet. I am a bitcoin fan. I want to stabilize the dollar against agriculture and agricultural commodities, gold, silver and nickel,” said Vivek Ramaswamy in a recent podcast.
There is therefore no question, for the latter, of considering the backing of bitcoin to the dollar. According to experts, this currency is shelling the last hours of its glory built on the mechanism of the petrodollar.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
