Last Updated: 26 July 2022
Bitcoin and politics are not usually a good combination. Except when you look at parties that want less politics. So does the Libertarian Party of the United States.
In a tweet, the Libertarian Party writes that bitcoin is “a decentralised monetary revolution.” According to them, it can overthrow the Federal Reserve and the fiat system in general.
#Bitcoin is at the forefront of a decentralized monetary revolution that can nullify the Federal Reserve and the fiat system in general.
— Libertarian Party (@LPNational) July 24, 2022
It is not surprising that the third party of the United States makes this statement. Earlier, they called it the “greatest instrument of freedom mankind has ever created.” That statement dates back to 2020.
In the early days of bitcoin, the bitcoin community was full of libertarian ideas. After all, it takes money out of people’s hands and, in a sense, gives ‘power’ back to the individual.
The party is not represented in the Senate or the Chamber of Deputies. Jo Jorgensen received 1.2% of the votes, but that was not enough for a seat in the political arena.
The party also accepts donations in cryptocurrencies via BitPay.
Since last week, it is again permitted in California to accept crypto-donations as a political party. The rules differ per state. The bill was approved by the state’s Fair Political Practices Commission.
There is also interest in bitcoin from both Republicans and Democrats. Cynthia Lummis is a well-known pro-bitcoin Senator.
Tom Emmer, who is also a Republican, and Warren Davidson, Young Kim, and David Schweikert have already made the case for digital internet money, for example, around impending legislation for 401k investments.
On the other hand, Elizabeth Warren is an opponent. She thinks bitcoin is run by ‘shadowy supercoders’ and also sees a huge problem in energy use.