US Senator Bill Hagerty recently delivered a passionate speech at the Bitcoin2024 conference, expressing his love for Bitcoin and the principles of decentralization. He emphasized that Bitcoin aligns with American values of liberty and autonomy, resonating with the ideals of the country’s founding fathers.
Hagerty highlighted the importance of Bitcoin in preserving states’ powers that were not explicitly granted to the federal government. He criticized the federal government’s increasing centralization efforts and emphasized the need for a nurturing ecosystem to foster innovation within the US.
The senator also acknowledged the growing interest in Bitcoin among his colleagues, attributing much of the momentum to former President Donald Trump. He commended Trump for his progressive stance towards technology and stated that Trump is the clear choice for Americans in the upcoming elections due to his support for decentralization.
Looking ahead to the November elections, Hagerty framed Bitcoin and decentralization as crucial issues. He contrasted the current administration’s approach, which he described as hostile to Bitcoin, with the vision of a supportive regulatory environment under a future Republican administration.
Hagerty outlined a plan for a supportive regulatory environment for digital assets under a potential future Republican administration. He pledged to end the “war on digital assets” on day one and criticized SEC Chair Gary Gensler for allegedly harboring political ambitions that hinder the industry’s growth.
The senator also addressed the topic of central bank digital currencies (CBDCs), describing them as tools of centralized control. He echoed sentiments expressed by Trump and other prominent Republicans, warning that CBDCs could grant the government excessive control over individuals’ financial transactions.
Hagerty pointed out that China, a proponent of CBDCs, aims to exert control over its population through centralized currencies. He questioned the United States’ adoption of similar ideas promoted by the Chinese Communist Party (CCP) and criticized US lawmakers who advocate for CBDCs.
In conclusion, Senator Hagerty’s advocacy for Bitcoin and decentralization reflects his commitment to preserving American values of liberty, autonomy, and innovation. He positions Trump as the preferred candidate for Americans who prioritize decentralization, freedom, and self-custody of assets in the upcoming elections.