Bitrabo Editorial
Overview
- Curtis Bashaw, a Republican contender for a US Senate seat, has opted to receive campaign contributions in Bitcoin.
- Bashaw’s endorsement of cryptocurrency mirrors that of many other influential figures, recognizing digital assets as a sign of advancement.
Curtis Bashaw, a Republican running for a US Senate position, has started accepting Bitcoin donations to support his campaign. His mission, as per his official account, is to bring “freedom, security, and opportunity to every New Jerseyan.”
By integrating Bitcoin into his campaign, the Republican candidate presents himself as a proponent of progress and innovation. This move resonates with the increasing number of American voters who advocate for blockchain technology and digital currencies.
Bashaw recently emphasized that by embracing cryptocurrency, he is aligning his campaign with the future of finance. His campaign website now includes Bitcoin as a payment choice through Anedot.
New Jersey’s Crypto Ownership Rank
New Jersey ranks second in the country in terms of the percentage of residents owning cryptocurrencies, based on data from Coinbase.
Having a leader who comprehends and champions the crypto industry and its potential would be advantageous considering the state’s high crypto adoption rate.
Bashaw’s supportive stance on crypto in New Jersey holds significance, especially amidst the US’s competition with other global powers like China in the realm of blockchain technology and crypto.
Support for Bitcoin and Cryptocurrency in US Politics
Bashaw’s campaign aligns with the broader political movement that sees significant political figures backing cryptocurrencies and blockchain technology, incorporating them into political discourse.
Notable personalities such as Miami’s Mayor Francis Suarez and Wyoming Senator Cynthia Lummis also stand firmly in support of the industry, influencing the political narrative.
Lummis has been advocating for FIT21, a bill aimed at fostering the growth of the crypto industry in the US by providing clearer regulations for those involved in the field.
There has been rising political backing for Bitcoin and cryptocurrencies in 2024, concurrent with the increasing crypto awareness in the US.
Growing Crypto Awareness in the US
Data from Security.org’s 2024 Crypto Adoption and Sentiment Report indicates a surge in crypto awareness and ownership rates in the US. The number of American adults owning crypto has increased to 40%, up from 30% in 2023, representing around 93 million individuals.
Additionally, around 63% of current crypto owners express a desire to acquire more digital assets over the next year, with Bitcoin being the most sought-after cryptocurrency.
Other noteworthy findings from the report include an increase in crypto ownership among women and the perception that Bitcoin ETFs in the US enhance accessibility to crypto investments.
Institutional Investment in Crypto on the Rise
Institutional investment in cryptocurrencies in the US has been escalating in 2024, particularly following the approval of Bitcoin ETFs earlier in the year.
As of June 30, prominent financial institutions like Morgan Stanley and Goldman Sachs have revealed owning shares in various Bitcoin ETFs, underlining the growing institutional interest in the crypto space.
Given the bullish valuations projected for Bitcoin, such as VanEck’s estimate of $2.9 million for BTC by 2050, the adoption of Bitcoin and cryptocurrencies in the US continues to progress rapidly.