US Senate candidate advises govt. to buy Bitcoins
Blake Masters, the senate candidate for Arizona, recently took to Twitter to suggest that the US government should strategically hold Bitcoin in response to China’s crypto ban.
The Twitter post on the 27th read:
“China banned cryptocurrency last week.
Let’s do the opposite. The US government should buy a strategic reserve of Bitcoin — Fort Nakamoto, the new Fort Knox.”
He also said that his US Senate campaign is also accepting donations in Bitcoin. Masters announced that he would run for the Senate in early July and ran for the Republican primary from Arizona.
Masters is the Chief Operating Officer of the venture capital firm Thiel Capital, founded by Paypal co-founder Peter Thiel.
Thiel had shown similar views after warning that the Chinese government could use cryptocurrencies such as Bitcoin as a kind of financial weapon. He spoke those comments at the US conservative nonprofit Richard Nixon Foundation in April.
Apart from Masters, Republican senator Pat Toomey also viewed China’s crypto ban as something positive for the US. He Tweeted:
“China’s authoritarian crackdown on crypto, including #Bitcoin, is a big opportunity for the US It’s also a reminder of our huge structural advantage over China.”
In addition, Toomey remarked on the 24th that the Chinese government did not like economic freedom and could not tolerate people’s participation in “the most exciting innovation in finance in decades”.
“Economic liberty leads to faster growth, and ultimately, a higher standard of living for all”, Toomey said on Twitter.
Jeremy Allaire, CEO of US Circle, pointed out that there had been two types of reactions in the United States towards China’s recent crackdown.
“FOMO, envy and a belief that we should be more like them, given their ability to execute; vs a stoic/determined outlook that believes in the open internet. Be on the right side of history; embrace the open internet of value.”
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow