Key points
- Republican U.S. Senate candidate Curtis Bashaw has begun accepting bitcoin donations for his campaign.
- His stance on cryptocurrencies is consistent with the views of other prominent political figures who see digital assets as innovation and progress.
Curtis BashawRepublican candidate for U.S. Senate, has begun accepting Bitcoin donations for his campaign. Bashaw is running for U.S. Senate in Modern Jersey to “ensure freedom, security, and opportunity for every New Jerseyan,” according to his X account.
The Republican Party candidate presents himself as a supporter of innovation and progress, integrating Bitcoin into your campaignThe move comes as a growing number of American voters support blockchain technology and digital assets.
He recently said that by accepting cryptocurrencies, he is aligning his campaign with the future of finance. Bashaw’s campaign website now features Bitcoin as a payment option through Anedot.
Modern Jersey ranks 2nd in cryptocurrency ownership
Modern Jersey currently ranks second in the country for the percentage of residents owning cryptocurrencies, according to Coinbase data.
Such a high level of cryptocurrency adoption would be beneficial if the leader understood and supported this industry and its potential.
It’s also worth noting that Bashaw, N.J.’s pro-cryptocurrency stance is essential, especially at a time when the U.S. is competing with China and other global powers for dominance in the blockchain and cryptocurrency markets.
US Political Support for Bitcoin and Cryptocurrencies
Bashaw’s campaign is part of a broader political trend in which prominent political figures are showing support for cryptocurrencies and blockchain technology.
For example, such prominent figures as Miami Mayor Francis Suarez and Wyoming Senator Cynthia Lummis have also shown powerful support for the industry, bringing it into the political discourse.
Lummis took care of FIT21 fighting to grow the cryptocurrency industry in the US and making cryptocurrency regulation in the country more limpid for everyone working in the industry.
In June, news emerged about “Stand With Crypto,” a nonprofit organization that aims to keep the cryptocurrency industry in the U.S. he is fighting on “common sense” regulation of digital assets
In addition, former US President Donald Trump has shown increased support for cryptocurrencies in 2024 while running his own presidential campaign. accepting Bitcoins also.
The Republican Party presidential candidate has repeatedly emphasized his support for cryptocurrencies, backlighting that the US government should not sell its Bitcoin reserves.
In 2024, political support for Bitcoin and cryptocurrencies increased, and awareness of cryptocurrencies in the US also increased.
Cryptocurrency awareness is growing in the US
According to Security.org data from June, their cryptocurrency adoption and sentiment rate in 2024 is expected to be: Reporthighlights that cryptocurrency awareness and ownership rates have risen to record levels.
Currently, 40% of American adults own cryptocurrencies, up from 30% in 2023, which is about 93 million people.
According to their data, around 63% of current cryptocurrency holders hope to acquire more cryptocurrencies within the next year, with Bitcoin being the most desired digital asset.
Other notable data from the Security.org report includes:
- The percentage of women holding cryptocurrencies increased from 18% in 2023 to 29% in early 2024.
- 21% of non-stockholders said US Bitcoin ETFs make them more open to cryptocurrency investing.
- BTC-based ETFs could attract as many as 29 million US investors to the market.
Institutional investment in cryptocurrencies is growing
It’s also worth noting that institutional investment in cryptocurrencies is on the rise in the U.S. This trend has accelerated particularly in 2024 following the approval of Bitcoin ETFs earlier this year.
As of June 30, major financial institutions such as Morgan Stanley and Goldman Sachs have disclosed holdings in bitcoin-based ETFs.
Morgan Stanley disclosed significant positions in the BlackRock Bitcoin ETF, IBIT – over 5.5 million shares worth about $188 million. They also disclosed holdings in the ARK 21Shares Bitcoin ETF, ARKB, and the Grayscale Bitcoin Trust, GBTC.
Goldman Sachs too reported owning shares in U.S. Bitcoin ETFs worth more than $418 million as of June 30.
As bitcoin valuation scenarios reach mind-blowing predictions like VanEck’s $2.9 billion for BTC Through 2050, U.S. adoption of Bitcoin and other cryptocurrencies will continue at a rapid pace.
