Going Mainstream: Two of Three Presidential Candidates Endorse Bitcoin

Republicans Embrace Bitcoin

The Republican Party has taken significant steps to position itself as pro-Bitcoin. Former President Donald Trump, once skeptical of Bitcoin and digital assets, has made a remarkable shift in his stance. At the recent Bitcoin 2024 conference in Nashville, Trump delivered a keynote speech where he promised to maintain the U.S. government's Bitcoin holdings as a strategic reserve to counter inflation and the growing debt burden.

At the 2024 Bitcoin Conference in Nashville, Donald Trump delivers a keynote address, outlining his vision for a crypto-friendly America. He vows to end the "anti-crypto crusade," accept Bitcoin donations as a major party nominee, dismiss SEC Chairman Gary Gensler, establish a Presidential Crypto Advisory Council, and retain all government-held Bitcoin.

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Trump's newfound support for Bitcoin is evident from his meeting with industry leaders, including MARA CEO Fred Thiel, to deepen his understanding of the significant benefits Bitcoin offers. Meetings like these and others have led Trump to a new level of conviction, which is apparent in his recent quote – “If crypto is going to define the future, I want to be mined, minted and made in the USA. It's going to be.”

Bipartisan Bitcoin Support

Bitcoin is not just a Republican issue. Independent presidential candidate Robert F. Kennedy Jr. has also emerged as a strong advocate for Bitcoin. Prior to the Bitcoin Conference in Nashville, Kennedy met with MARA CEO Fred Thiel to explore the potential of Bitcoin. At the same Bitcoin Conference, Kennedy proposed an ambitious plan to establish a "Bitcoin Fort Knox" by purchasing 550 bitcoin daily to create a strategic reserve. Additional bipartisan support from Republican Senator Lummis and Democratic Senator Gillibrand demonstrates that Bitcoin transcends traditional political divides.

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Within the Democratic Party, there's growing recognition of Bitcoin's importance. Vice President Kamala Harris recently suggested a “reset” between the Democratic Party and the crypto industry. She was invited to the Nashville Bitcoin conference to speak but declined the invite. Democratic Congressman Ro Khanna has been vocal in his support for Bitcoin and recently stated, "Being against Bitcoin is like being against cell phones or the laptop, or semiconductors, it's technology." This shift suggests that Bitcoin is becoming a mainstream issue that all political parties must address.

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Think Globally, Act Locally

Bitcoin is increasingly being considered and adopted as a strategic reserve not only at the national level but also at the institutional and state and local municipality levels. This trend is exemplified by MARA, which recently purchased approximately $249 million worth of bitcoin, bringing its total holdings to over 25,000 BTC.

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Similarly, pension funds are also recognizing the value of Bitcoin. The State of Wisconsin Investment Board (SWIB) allocated approximately $150 million to Bitcoin ETFs, while the State of Michigan Retirement System similarly invested $6.6 million. The Employees' Retirement System of Jersey City is also in the process of allocating a portion of its portfolio to Bitcoin ETFs, signaling a broader acceptance of bitcoin as a strategic asset.

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Looking Ahead

At MARA, we're excited to be at the forefront of this transformation. Our Granbury facility is just one example of how Bitcoin mining can positively impact local communities while contributing to a larger national vision of financial innovation and energy independence.

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As more Americans become aware of Bitcoin's potential, we can expect to see continued growth and adoption. Because of its accessibility, censorship resistance, and immutability, one overriding theme in Bitcoin is “Bitcoin is for everybody”. Regardless of your political affiliation, Bitcoin offers opportunities for financial empowerment and technological advancement, which leads to a brighter future for all Americans.