As a seasoned crypto investor with a keen eye for political trends, I find myself intrigued by the recent moves of the Bitcoin Voter PAC. With a background in mining and a portfolio full of digital assets, it’s natural that my interest lies in the intersection of politics and cryptocurrency.
A group that supports politicians, known as a Political Action Committee (PAC), funded by leaders in the cryptocurrency mining industry, has recently aired two advertisements promoting Republican candidates during the ongoing early voting phase of the U.S. elections scheduled for November.
In a post on October 21st, Bitcoin Voter PAC acknowledged responsibility for an advertisement promoting Texas Senator Ted Cruz. This ad was shown as Texans started early voting. The ad’s message focused on Cruz’s understanding of Bitcoin, subtly implying this knowledge without directly discussing any policies of his opponent, Colin Allred.
Executives associated with crypto mining companies Marathon Digital Holdings, CleanSpark, and Riot Platforms are part of the governing body for the Bitcoin Voter Project, a group established in June to locate potential voters and impact significant elections. As per records from the Federal Election Commission up until September 30, this organization’s Political Action Committee has not made any contributions or expenditures for the 2024 election cycle yet.
15 days until US Election
Voting before the main election day started in Texas on October 21st. This gives residents the opportunity to pick between candidates Cruz and Allred, with Cruz being a senator since 2013 and Allred serving as representative for Texas’ 32nd Congressional District since 2019. Additionally, the PAC invested in an advertisement spot in Pennsylvania, backing the Republican presidential candidate Donald Trump.
In October, several surveys indicated that Cruz was slightly ahead of Allred in Texas, a state that has had two Republican senators since 1993. At the time of publication, CryptoMoon attempted to contact the Bitcoin Voter PAC but did not receive a reply.
In August, the Texas Blockchain Council (TBC), an advocacy group focusing on cryptocurrency and blockchain technology, publicly supported Cruz’s bid for the US Senate. During this time, TBC President Lee Bratcher highlighted that Senator Cruz had a deep understanding of Bitcoin‘s role in preserving freedom and mining’s potential contribution to grid stability.
At the Permissionless conference on October 10th, Bratcher shared with CryptoMoon that they are collaborating with State Senator Nathan Johnson and Representative John Bucy, both Democrats. If Colin Allred were to win, this could significantly impact the industry as there are currently no Democratic statewide officials in Texas at the moment.
The President of TBC mentioned that while Allred is rather favorable towards cryptocurrency, the organization is backing Cruz because he is strongly advocating for digital asset policies without reservation.
“We haven’t made that many other endorsements just because there’s not been a close race where crypto has played a major role.”
In the United States, Texas stands out as one of the states with a robust economy, hosting numerous cryptocurrency mining operations such as Riot Platforms and Core Scientific. Additionally, it serves as a battleground for legal disputes involving crypto companies. Some firms appear to be strategically choosing Texas due to its judges who are perceived as favorable when filing lawsuits against regulatory bodies like the U.S. Securities and Exchange Commission.
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2024-10-22 00:38