US Republicans Have Found A New Enemy In Bitcoin

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With the White House of President Joe Biden riding high in the opinion polls and even his relief packages sailing through Congress for approval, the opposition republicans are fresh out of enemies to please their base. Given that President Biden has been (at least when it comes to his rhetoric) thus far much tougher on China and Russia than everyone expected, there aren’t many possible enemies left for the Republicans to attack the Democrats with.

AOC and Sanders

One thing remains though, given that young people and millennials tend to back both Democrats and cryptocurrencies in larger numbers, Republican politicians must look for something that group likes and thus attack it.

A few years ago it would have been any proposal made by Vermont Senator Bernie Sander or New York Congresswoman Alexandria Ocasio-Cortez. But now they seem to have found a new enemy in the form of Bitcoin.

“McCarthy said regulators previously tried to ignore crypto to make it go away. Now, the ecosystem has grown to a place where they’ll have to take a closer look than they have in the past.”

Sounds like my 6 year old.

Ignore me, hope I go away.https://t.co/M2J0Nc1mpd

— The Wolf Of All Streets (@scottmelker) April 13, 2021

Asked for his opinion on cryptocurrencies this week, the new Republican strongman, House Minority Leader Kevin McCarthy expressed his grave concern as to the US ignoring Bitcoin and its potential implications as other countries (meaning China) advance with digital currency technologies.

McCarthy claimed:

Those who regulate … those who are in Government that make policy better start understanding what it means for the future because other countries are moving forward especially China.

I want the next century to be ours. I do not want America to fall behind.

His comments come just as China prepares to roll out their own digital currency nationwide and present it to the world during the 2022 Winter Olympics in Beijing.

Could Bitcoin and crypto become a political topic between superpowers?