Over the course of its time, current cryptocurrency market-cap leader ¨Bitcoin¨ has always been perceived as being intuitively neutral. Recently, various researches are noticing its influential increase in U.S politics has created a disruption among people, wondering what its dominant political ideology is within the currency´s users.
One of the attractive virtues of bitcoin is its neutral standpoint on all topics due to the asset not belonging to any particular group of people. Some people see the “coin” as a threat to current political scenes and financial systems. Professor Harold James is one who considers Bitcoin to disrupt the economic ecosystem. In addition, a wide range of people believes that Bitcoin’s users do have certain political standings.
In Professor David Golumbia book titled, The Politics of Bitcoin: Software As Right-Wing Extremism he touches upon however since Bitcoin has caught the public’s eye it has been able to persuade people into believing it has the power to revolutionize our financial system. He goes on to elaborate that supporters of blockchain based systems have far-right political thoughts.
More evidence that points to Bitcoin entering the political sphere is that in June and August of 2018, California and Oregon state legislation made requests and started petitions to make it legal for political campaigns in their state to receive donations in cryptocurrency. Though these ideas weren’t adopted by all states it shows that cryptocurrency is growing into various industries at a fast rate. Furthermore, future 2020 presidential candidates such as Andrew Tang are announcing that they will be receiving crypto coins (like Bitcoin) as a valid donation to help fund their campaign.
Overall it may be said Bitcoin has a lot of potentials to grow and influence U.S politics as it is and change the way we manage many of our financial decisions.