Elon Musk, the owner of X (formerly Twitter) and the richest man in the world, has expressed his admiration for pro-crypto candidate Vivek Ramaswamy. Musk praised Ramaswamy in response to a clip of his appearance on Tucker Carlson’s online show, which was published on the X platform. In a tweet, Musk labeled him as a “very promising candidate.”
This is not the first time that the world’s richest man has publicly supported a pro-crypto candidate, as Florida Governor Ron DeSantis was expected to announce his presidential candidacy during a conversation with the Tesla CEO.
Meanwhile, it is known that Ramaswamy has taken a pro-crypto stance since the beginning of his campaign. As part of his campaign, he has promised to create a more conducive environment for the crypto industry in the United States.
The presidential candidate has even gone so far as to include Bitcoin donations in his campaign funds. During a Bitcoin 2023 conference in May, he announced that his campaign committee would officially accept Bitcoin donations. Interestingly, another presidential candidate, Robert F. Kennedy, also announced that his team would accept Bitcoin donations during this conference.
The overall cryptocurrency market capitalization has seen a slight recovery to $1.038 trillion. This highlights the growing focus on crypto in the lead-up to the 2024 US elections, as many US voters are believed to be actively invested in digital assets.
Last year, a survey conducted by the crypto-focused political group GMI PAC found that 44% of US voters either own or are considering owning digital assets. It is therefore expected that politicians will specifically target this group of voters.
Presidential candidates like Ramaswamy and Kennedy have shown their preference for crypto. Kennedy, for example, has described cryptocurrency as a “symbol of democracy and freedom.”
Republican presidential candidate Ron DeSantis is another big fan of Bitcoin. He has promised to end “Biden’s war on Bitcoin” if elected, and believes that every citizen should have the right to “make Bitcoin,” as he mentioned during an X-Space conversation with Elon Musk.
Furthermore, there is reason to believe that the outcome of the 2024 elections could have significant implications for the future of the crypto industry. Former SEC attorney John Reed Stark has predicted that the SEC’s actions against crypto companies could become a thing of the past if a Republican is elected president next year.
This prediction may not be far-fetched, considering that two of the top candidates for the Republican presidential nomination (DeSantis and Ramaswamy) have publicly expressed their support for cryptocurrencies.