John Carl,
Editor
Oct. 25, 2024
The election is almost here...
And while I’m tired of all the campaign ads and fundraising pitches, I’m hopeful about some of the pro-Bitcoin policies we’re likely to see in the aftermath.
Earlier this year I had the opportunity to speak for a few minutes with John Deaton, who’s running for Senate as a Republican in Massachusetts.
He’s facing off against the deeply entrenched incumbent, Democrat Elizabeth Warren.
Warren is the nation’s most vocal opponent to crypto and Bitcoin — and while she’s likely to win the election, she likely won’t have the last word on financial freedom.
Deaton is determined to fight for the right to live the American dream, despite what the poll numbers say.
He told me...
“I am the American dream... my life represents what’s possible if you have the opportunity and you’re willing to work hard for it. And I see that dream dying.”
Deaton is adamant that the American dream is built on financial freedom, which includes access to financial innovations like crypto.
Having grown up in poverty, Deaton told me about his mother’s struggles to keep food on the table, especially since she often didn’t have access to a bank account.
It gave him a rough start to life, until he was able to establish himself as a businessman and break free from the limitations that had held his family back for so long.
He says that there’s still a large unbanked population today, and that the policies of Elizabeth Warren are actively hurting the people she claims to be helping.
Deaton sees crypto as a lifeline for millions who have been “left out” of the US banking system.
On this issue, Deaton has a lot in common with the Presidential candidates from both major parties.
- Donald Trump has pointed to crypto several times now, and stated Bitcoin can help free people from the threat of CBDCs (Central Bank Digital Currencies), which Trump claims would be the final blow for the unbanked.
- Kamala Harris has also shown support for the possibilities of crypto. While her statements have been limited, she said that within a regulatory framework she “will encourage innovative technologies like AI and digital assets.” During a later speech, she also noted that crypto presents an opportunity for black men who don’t have easy access to banking, among others.
So while Deaton remains a longshot candidate for Senate, his words on this issue are still likely to find their home in policy.
We’re also likely to see crypto prices climb after the election due to these policy changes — in addition to the cyclical bump in optimism that we’ve seen in every election since the creation of Bitcoin.
Like clockwork, Bitcoin has a tendency to rise in value in the weeks following a presidential election, as you can see in the chart below.
Not only are we likely to see the pattern continue, but Bitcoin may actually see its largest election-driven spike yet, as an inflation-weary America takes stock of its financial position in the aftermath of this contentious election cycle.
As John Deaton says, making your own path and asserting your financial freedom are essential to the American dream — and financial innovations like Bitcoin can be used as a powerful tool for turning that dream into a reality.
To that end, I’d encourage you to find out more about Bitcoin and the wealth-building potential crypto offers. If you’re new to the space, our resident crypto expert Chris Curl can guide you step-by-step to making your first investments in this incredibly lucrative space. He also has a $50k real-money portfolio that you can follow move-for-move.
And then Bitcoin mining is the other piece to this puzzle. I cover this and more in my tech-focused publication Digital Dispatch. I’ve also included three Bitcoin miners in the portfolio that have direct exposure to the price of Bitcoin. They’ll be the first to benefit from a post-election breakout.
If we’ve learned anything from this election, it’s that the American dream is only as powerful as the tools you use to defend it.
Make it your own,
John Carl
Editor, Daily Profit Cycle