Bitcoin miners launch ad campaign in swing states to boost crypto-friendly candidates

Published On Oct 23, 2024, 12:14 PM

A new political action committee, Bitcoin Voter PAC, supported by major U.S. bitcoin mining companies, is running a digital ad campaign to promote candidates favorable to cryptocurrency in key states like Pennsylvania and Texas. The initiative's aim is to influence elections in favor of pro-crypto candidates, including Donald Trump and Ted Cruz, as part of a broader push by the crypto industry to gain political representation and favorable policies. With significant funding and a target audience primarily online, the PAC hopes to mobilize pro-bitcoin voters ahead of the elections.

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Stock Forecasts

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The growing political momentum for cryptocurrency, indicated by substantial ad spending and support from key political figures, could positively influence bitcoin mining companies’ stock prices, particularly those directly involved like Riot Platforms and Marathon Digital. If candidates supporting crypto policies succeed in their races, it could lead to friendlier legislation and market growth.

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Positive

As the crypto industry rallies for favorable policy representation, stocks of companies like Marathon Digital could see a positive trend if the political landscape becomes more favorable. The emphasis on crypto-friendly candidates may enhance investor sentiment towards crypto-related businesses.

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