US Senator Bill Hagerty Advocates for Bitcoin and Decentralization, Framing Them as Pivotal Issues in the Upcoming Elections

US Senator Bill Hagerty passionately advocated for Bitcoin and the principles of decentralization during his speech at the Bitcoin2024 conference, highlighting the alignment of these values with American ideals of liberty and autonomy.

Republican US Senator Bill Hagerty has passionately advocated for Bitcoin and the principles of decentralization during his appearance at the Bitcoin2024 conference in Miami on July 26.

Hagerty highlighted the alignment of these values with the American ideals of liberty and autonomy, particularly in the context of a federal government that is increasingly centralizing power.

During his appearance at the Bitcoin2024 conference on July 26, Hagerty was asked why he loves Bitcoin, to which he responded:

“It gets to the DNA of a person, right? I love liberty and freedom. I don’t care for centralization, and the notion of autonomy is something every American appreciates.”

Hagerty went on to explain that Bitcoin provides a way for states to retain the powers that were not explicitly granted to the federal government, arguing that this is crucial for preserving the balance of power in the country.

He also noted the growing interest in Bitcoin among his colleagues in Congress, which he largely attributed to former President Donald Trump. Hagerty added that Trump is the “clear” choice in the upcoming elections due to his progressive stance toward technology.

“He leaned into this. He said, look, this is fundamental to America’s competitiveness. It’s also fundamental to our liberty and freedom,” Hagerty said.

Hagerty framed Bitcoin and decentralization as pivotal issues in the upcoming November elections, contrasting the current administration’s approach, which he described as hostile to Bitcoin, with a vision of a supportive regulatory environment under a future Republican administration.

“If you favor centralization, government control, lack of sovereignty, then you can vote for Vice President Harris. If you want liberty, freedom, decentralization, the ability to self-custody your own assets, Donald Trump is going to be a clear answer for you,” Hagerty said.

The senator further outlined a vision for a supportive regulatory environment for digital assets, promising to end the “war on digital assets” on day one of a potential future Republican administration.

He also emphasized the need for leadership changes to facilitate this vision, singling out SEC Chair Gary Gensler as an obstacle to the industry’s growth.

“Everybody in Washington knows Gary Gensler’s aspiration is to move from the SEC to become Treasury Secretary. Think about that for a moment,” Hagerty said.

Hagerty also touched on the contentious topic of central bank digital currencies (CBDCs), describing them as instruments of centralized control, echoing statements made by Trump and other prominent Republicans in recent years.

He argued that such technology would allow the government to have an extreme amount of control over what individuals can and can’t do, ultimately stifling freedom.

“If they can control your means of transacting, they can control your life,” Hagerty said.

He added that China is one of the biggest proponents of CBDCs because it understands that centralized currencies give them more control over the population.

“The largest footprint of adoption is taking place right there in China. They want to control their population. Why in the world would the United States want to adopt anything that the CCP thinks is a good idea?” Hagerty said.

Hagerty criticized US lawmakers who have advocated for CBDCs and slammed the Federal Reserve for pursuing a digital dollar, arguing that such initiatives are fundamentally at odds with the principles of a free society.

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