The crypto asset manager looked at the leading U.S. presidential candidates’ positions and did not see a partisan divide.
The next president of the United States is likely to favor a central bank digital currency (CBDC), crypto asset manager Grayscale stated in a post on its website, as the current frontrunners in both political parties have expressed their support for it. Neither seems to like Bitcoin.
Joe Biden and Donald Trump currently have healthy leads in the 2024 presidential polls among members of their respective parties. Both are “favorable toward exploring CBDC,” echoing conclusions drawn by Forbes earlier in 2023.
Trump has called Bitcoin a “scam,” and Biden’s position was intuited from his support for a 30% tax on Bitcoin mining. Grayscale did not comment on Trump’s overall attitude toward crypto and digital assets. It can be recalled that he is, at a minimum, favorably disposed toward nonfungible tokens.
— Bitcoin Archive (@BTC_Archive) August 4, 2023
Biden’s Executive Order on Ensuring Responsible Development of Digital Assets was taken as evidence of his general support. Another White House document — the 2023 “Economic Report of the President” — was not as complimentary toward crypto, however.
The candidates polling in second place, Democratic candidate Robert F. Kennedy, Jr. and Republican candidate Ron DeSantis, have both been vocal about their support for cryptocurrency and opposition to CBDC.
Trump and DeSantis are not the only pro-crypto candidates in the crowd of Republican contenders. Vivek Ramaswamy, to whom Grayscale ascribes 7% support (compared to Trump’s 63%), is also seen as being pro-Bitcoin and anti-CBDC.
Possibly the most ardent crypto supporter on either side is Republican Miami Mayor Francis Suarez, who made his love for the technology known far before campaigning began. His presidential ambitions have been called “improbable,” however.