As I delve into the lives of these influential figures, it’s clear that they come from diverse backgrounds and have made significant impacts in their respective domains.
Ever since Donald Trump assumed the presidency, cryptocurrency markets have soared to unprecedented levels, with a Bitcoin price of $100,000 becoming almost attainable.
Supporters of the “laser eyes” movement, indicating their conviction that Bitcoin would reach six figures, might soon experience their “I was right” moment, as their previously doubted or deemed impractical viewpoint seems to be gaining traction.
The “Bitcoin laser eyes” phenomenon on the internet involves supporters adding images with glowing eyes to their profile pictures as a sign of faith that Bitcoin will reach $100,000. This is a daring and fun expression of optimism about crypto’s future.
The laser eyes trend gained traction during the last bull cycle, with a few daring politicians adopting it to signal their conviction in Bitcoin’s path to $100,000. However, Bitcoin failed to reach the six-digit milestone, instead hovering around the $70,000 mark. Many were ridiculed, but patience could soon pay off.
President Nayib Bukele: King of “I told you so”
On September 7, 2021, President Nayib Bukele of El Salvador garnered worldwide attention as his nation became the first to recognize Bitcoin as legal tender. Given his personal investment in the matter, it’s hardly unexpected that he would focus his gaze intensely.
Nuyora’s administration enacted the Bitcoin Law, mandating businesses to accept Bitcoin as a form of payment together with the U.S. dollar. This decision aimed to broaden financial participation, lower remittance costs, and offer an alternative to conventional banking for the 70% of Salvadorans lacking such services.
In a significant move, El Salvador developed a system enabling Bitcoin (BTC) transactions across the nation. The government introduced the Chivo Wallet for citizens to keep their Bitcoins securely and set up Bitcoin Automated Teller Machines (ATMs) all over the country. However, despite these initiatives, technical glitches surfaced, causing daily Bitcoin usage for transactions to be less than anticipated.
Even so, Bukele has had numerous instances where his predictions proved true. On January 25, 2023, El Salvador successfully paid off a $800 million sovereign debt, avoiding the predicted default. Bukele felt he had demonstrated that every financial expert who doubted whether the country could meet its debt obligations on schedule was mistaken, following the adoption of Bitcoin.
Improving its capacity to repay its debts boosted investor trust in the country. Throughout 2023, its national bonds drew interest from major financial institutions such as JP Morgan, Eaton Vance, and PGIM Fixed Income, which led Bukele to comment, “I told you so.
With Bitcoin reaching $100,000, the value of El Salvador’s national reserves also grows accordingly. On November 11th, the President shared this update on social media.
Joe Biden: Unintended Bitcoin ambassador
On February 12, 2024, U.S. President Joe Biden inadvertently took on the role of a Bitcoin advocate by using a profile picture featuring laser eyes on his Twitter and Instagram accounts.
Initially, several Bitcoin supporters perceived President Biden’s updated profile picture featuring laser eyes as a tacit endorsement or acknowledgement of Bitcoin.
In reality, it alludes to the “Dark Brandon” meme – a humorous counterpoint to the speculation that the Super Bowl’s outcome was fixed in favor of Travis Kelce’s team, creating an opportunity for his girlfriend, pop star Taylor Swift, to back Biden’s presidential campaign.
Biden’s campaign unveiled a unique mug designed to transform, displaying an image of the President with glowing eyes when filled with a warm drink of your choice.
I’ll ask you nicely to buy this new, color-changing campaign mug.
But I know someone who won’t:
— Joe Biden (@JoeBiden) September 15, 2023
While we may joke about it, President Biden is not an advocate for Bitcoin as a maximalist would be. Instead, his administration has taken steps towards tighter regulations in the crypto market. This includes stricter rules for cryptocurrency exchanges, increased reporting obligations for cryptocurrency transactions, and enhancing the roles of regulatory bodies such as the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) to monitor the sector more closely.
2022 saw the issuance of an executive order, prompting federal departments to examine the pros and cons of digital assets, with specific focus on the possibility of a U.S. central bank digital currency (CBDC). This regulatory action has ignited discussions within the industry regarding potential influences on innovation and market expansion.
Cynthia Lummis: Senator pursuing a Bitcoin reserve
Initially, U.S. Republican Senator Cynthia Lummis shared the image of laser eyes in the year 2021, and she repeated this action on the day following the 2024 U.S. presidential election.
In the halls of Congress, Lummis is now widely known as a passionate supporter of Bitcoin, earning the title “Crypto Queen.” Notably, she has put forth various legislative proposals aimed at establishing a distinct regulatory structure for Bitcoin and similar digital currencies.
Together with Senator Kirsten Gillibrand, she introduced the Responsible Financial Innovation Act, a legislation designed to bring clarity to the regulation of cryptocurrencies and clearly outline the responsibilities of both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in overseeing these digital assets.
At the Bitcoin Conference held in Nashville towards the end of July 2024, Senator Lummis unveiled the Bitcoin Reserve Act, a legislative proposal she had presented.
The proposal intends to set up a strategic Bitcoin reserve, and upon its approval, a Bitcoin investment fund will be created to protect our country from escalating national debt. This fund aims to accumulate approximately 1 million Bitcoins within the next five years, with plans to hold these for at least two decades.
However, she will still face an uphill battle despite Republicans’ control of Congress; the public and most lawmakers are still not convinced about crypto, and the fund would represent a very small amount of the US’ sovereign debt.
Francis Suarez: Bitcoin, welcome to Miami
Miami Mayor Francis Suarez, who took office in 2017, is an ardent supporter of Bitcoin and cryptocurrencies. He’s been working diligently to establish Miami as a key player in the digital assets sector.
With him at the helm, the city has warmly adopted blockchain technology and is actively seeking methods to incorporate Bitcoin into its financial framework. Suarez has suggested enabling Miami residents to settle city services with cryptocurrency, and he has advocated for the city’s funds to include Bitcoin as part of their investment portfolio.
His vision is to make Miami a global cryptocurrency capital, attracting entrepreneurs and investors to the region with its favorable regulatory environment and tech-forward approach.
Beyond focusing on community-based projects, Suarez has also been instrumental in advocating for cryptocurrency acceptance at both the state and federal level. He’s been a strong proponent for the development of more transparent guidelines within the crypto sector, striving to strike a balance between fostering innovation and ensuring consumer safety.
As an advocate for Bitcoin, Suarez has also been outspoken about its potential as a safeguard against inflation and a viable alternative to conventional banking. This viewpoint has contributed significantly to Miami’s growing recognition as a city welcoming to cryptocurrencies, attracting the interest of significant crypto firms and investors seeking a nurturing environment for expansion and innovation.
Indira Kempis: Hope for Mexican crypto adoption
Mexican Senator Indira Kempis has expressed support for the possible implementation of cryptocurrencies and Central Bank Digital Currencies (CBDCs) on a national level. On February 23, 2022, she submitted a bill aimed at recognizing Bitcoin as legal tender in Mexico. Additionally, on April 14, 2022, she presented legislation to modify Article 22 of the Monetary Law within her country with the intention of fostering the development of a digital version of the Mexican peso as a CBDC.
Instead, her main concentration lies in enlightening the public and policy-makers regarding the far-reaching effects of blockchain technology and cryptocurrencies.
This individual’s responsibilities involve teaming up with research institutions, activist organizations, and open discussions in the community to investigate potential applications of digital currencies within Mexico’s economic framework, particularly focusing on financial accessibility and remittances – an essential aspect of Mexico’s overall economy.
Carlos Rejala: Potential for LATAM BTC mining
In the world of cryptocurrencies and blockchain technology within Paraguay, Carlos Rejala, a former deputy, stands out as a key figure. He is widely recognized for his initiatives aimed at popularizing Bitcoin and encouraging its usage in Paraguay. A significant part of this effort involves leveraging the country’s ample hydroelectric power to mine Bitcoin in a sustainable manner.
Investments from Bitcoin miners seeking a location to establish their operations have surged due to the abundant natural resources found in the given Latin American nation.
2023 saw Tether unveiling a $500 million investment strategy aimed at capturing 1% of Bitcoin’s total mining power. On November 12, Hive Digital, a publicly traded Canadian miner on the Nasdaq exchange, initiated the installation of 6,500 mining rigs following their acquisition.
In excess of the electricity it needs, Paraguay generates power. This surplus energy is sold affordably to nearby nations. Figures like Rejada advocate for cryptocurrency-friendly legislation, aiming to allow crypto miners to utilize this extra energy for mining digital currencies, thereby benefiting the nation.
Regardless of potential benefits, the government of Paraguay has suggested imposing a ban on Bitcoin mining, which could result in an annual loss exceeding $200 million, according to calculations from Jaran Mellerud, co-founder of Hashlabs Mining, as reported by CryptoMoon.
In Paraguay, the battle over regulations persists, yet Rejada has managed to garner additional support, including Senator Salyn Buzarquis. This senator has encouraged the Paraguayan Ministry of Industry to examine the potential financial benefits of supplying surplus energy to Bitcoin mining operations.
Lord Fusitu’a: Bitcoin as legal tender in Tonga
Lord Fusitu’a, previously recognized as Lord Mata’i’ulua ‘i Fonuamotu, serves as a noble and former parliament member within the Kingdom of Tonga. He has garnered attention in the international cryptocurrency realm due to his endeavors aimed at integrating Bitcoin into Tongan society, finding motivation from El Salvador’s Bitcoin-focused project.
He has been vocal on social media and in various forums, discussing and sharing insights on how Bitcoin adoption could help Tonga and other Pacific Island nations gain financial independence and its use for remittances.
Lord Fusitu’a has been working on proposing laws to allow Bitcoin to be recognized as legal tender in Tonga. This proposed legislation needs to be accepted by the Tongan government. Despite generating significant public interest and backing from the cryptocurrency community, the proposal unfortunately failed to pass.
The authorities in Tonga have voiced worries over the unpredictability of Bitcoin, its possible threats to economic security, and the difficulties encountered when using it, especially in a nation with a modest and undeveloped financial system.
Elon Musk: Make America efficient again with D.O.G.E.
Although not traditionally classified as a politician, Elon Musk, a multi-millionaire with leadership roles in technology companies like Tesla and SpaceX, has played a significant role in supporting Donald Trump’s presidential campaign.
On November 13th, I was appointed, along with Elon Musk and Vivek Ramaswamy – a previous presidential hopeful and entrepreneur – by President Trump, to the newly formed Department of Government Efficiency (D.O.G.E.). Our primary task within this department is geared towards identifying and eliminating inefficiencies and fraud in the staggering $6.5 trillion of annual government spending in the United States.
In August, Trump expressed the possibility of appointing Musk to a cabinet or advisory position within his administration. However, Musk will not serve as a cabinet member because SpaceX and Tesla (D.O.G.E.) are autonomous advisory bodies.
As an analyst, I’ve observed that Elon Musk, in the realm of cryptocurrencies, has been a figure surrounded by debate. His role, nonetheless, was significant during the previous crypto bull market. Under his leadership, Tesla made a strategic move to invest in Bitcoin. Furthermore, his impact on the price fluctuations of Dogecoin (DOGE) is noteworthy and, at times, appears less conventional. This unusual relationship between him and Dogecoin is something he’s not been shy about acknowledging.
It’s uncertain how much impact Musk has on policy, given his involvement with multiple leading tech firms. Yet, his frequent visits to Trump’s club, Mar-a-Lago, might suggest that he exerts influence over the government without officially being a part of it, according to inside sources from CNN.
According to Kaitlan Collins’ report, Elon Musk has been frequently visiting Mar-a-Lago since Donald Trump’s election victory, often sharing meals with him outside on the patio. Moreover, Musk has been expressing his opinions about staff appointments and indicating a clear preference for certain positions within the administration.
— Brian Stelter (@brianstelter) November 11, 2024
Despite her remarks, tech journalist Kara Swisher stated on CNN that both individuals are self-centered, but only one can be the country’s narcissistic leader – Donald Trump. She further added that Trump is known for discarding people quickly, and even if it’s Musk, they will inevitably collide at some point.
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2024-11-14 17:53