Marathon Digital CEO Says Anti-Crypto Politicians Face Big Trouble With Younger Demographics – Here’s Why
Marathon Digital CEO Fred Thiel says anti-crypto politicians in the US will face a key voting bloc.
In a new interview with Scott Melker, the head of the crypto mining giant says that the Biden administration and other Democratic politicians have taken an anti-crypto stance in the wake of major digital asset bankruptcies like the FTX scandal.
“The [Biden] the administration was certainly more open to crypto and Bitcoin, digital assets. And in January, February of this year, it suddenly swung into a very antagonistic position. You look at the White House’s economic report and the position they took there. Senator [Elizabeth] Warren is now raising an army against crypto. I think a lot of this is driven by voters who feel they may have been hurt by what happened with FTX and Three Arrows Capital, Voyager etc.
Politicians, basically, if there is a squeaky wheel, they should try to quiet the squeaky wheel. Because a lot of politicians don’t really understand how digital assets work, what they provide, how they help balance the grid, etc., they just play dumb and say, OK, let’s just stomp this out. That way, our voters will like us.”
However, Thiel says politicians who take an anti-crypto stance could draw opposition from younger voters who, he says, are more likely to support crypto.
“The challenge they have is that the younger voters are actually all interested in crypto and digital assets. And so what’s interesting is where before crypto and digital assets weren’t a polarizing, political hot potato if you will, or theme, now it’s definitely becoming something that the Democrats are anti-crypto and digital assets, and the Republicans look to be pro. .
And I think it’s going to be a divisive issue, especially demographically, in this country. And it will be very interesting to see. The simple fact that individual states are passing “right to mine” laws and trying to do things to limit regulatory overreach, which is something that the SEC (US Securities and Exchange Commission) and other regulators have practiced on this subject, it will be very interesting.”
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