Bitcoin Advocate Defeated In Primaries

With the upcoming US Midterm Elections drawing near, the US Republican party is holding their primaries to see who will be their party bets in the next elections.

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The Missouri Republican primaries were held last August 7, and the unofficial results are in, with candidate Austin Petersen, known for being a proponent of Bitcoin, losing the election.

Unofficial results published by the Missouri Secretary of State show that Peterson lost to Attorney General Josh Hawley, who received 58.6 percent of the 663,553 votes.

Petersen later tweeted:

Politics And Cryptocurrencies

Bitcoin has started to gain traction as a donation for political campaigns. Petersen received 24 bitcoins during his campaign, amounting to about $10,000. Petersen’s campaign manager Jeff Carson spoke about his candidacy, saying:

“I think it goes without saying we’re going to see a lot more of [cryptocurrency] in terms of campaign contributions and campaign financing… Austin is personally a fan of competition in the marketplace, even when it comes to our currency. With the rise of cryptocurrencies like Bitcoin, it was a no-brainer for us to use those.”

MissouriPetersen’s loss is a bit of a blow to crypto advocates in the US, as having a lawmaker on your side was seen as critical. Indeed, some members of the US Congress call for increased control and others describe crypto as a refuge for “charlatans and scammers.”

Meanwhile, some American politicians are taking a more liberal approach to cryptocurrencies, with a few investing in crypto. The chairman of the Judiciary Committee of the U.S. House of Representatives Bob Goodlatte reported that he has holdings in Bitcoin, Bitcoin Cash, and Ethereum.

Wisconsin candidate Phil Anderson from the Libertarian Party said in July that his campaign will accept Bitcoin donations, despite the State Ethics Commision saying that crypto is a “serious challenge” to compliance with state law.

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