Crypto: Twitter in the US presidential elections

Jack Dorsey is the famous co-founder of Twitter, and until about a year and a half ago he was still its CEO. 

When he stepped down he claimed he wanted to devote himself to Bitcoin, and since then he has become a figurehead for the crypto industry. 

However, ever since Elon Musk has been at the helm of the famous social network, political initiatives have increased, particularly those related to the campaign for next year’s US presidential election. 

At present, neither the Democratic Party of Biden nor the Republican Party of Trump have already defined their candidate with certainty, so much so that a kind of primary campaign has already begun on Twitter. 

Elon Musk himself participated in a Twitter Space during which the Republican candidate he supports, Ron DeSantis, officially announced his candidacy in the primaries against Donald Trump. 

Twitter and pro-crypto candidates

DeSantis is a strong supporter of Bitcoin, but there is also a candidate in the Democratic ranks who is a strong supporter of Bitcoin: Robert F. Kennedy Jr. the third son of the late Robert Kennedy and nephew of John F. Kennedy. 

If DeSantis has the backing of Elon Musk, Kennedy has that of Jack Dorsey. 

In both cases these are pro-crypto candidates, endorsed by prominent Twitter figures, even though the former is a Republican and the latter a Democrat. 

To be fair, there is an important difference: while it seems that DeSantis can contend with Donald Trump to win the primary, it seems rather unlikely that Kennedy can beat Biden, not least because Biden is the incumbent president, so if he runs again, the Democratic Party primaries may well be over before they even begin. 

In addition, Kennedy is a very controversial figure because of some of his radical positions that many people do not like. 

Right now, although Trump appears to be the most popular Republican candidate, DeSantis trails him, albeit at a distance. 

To be fair, the Republican candidates in the primaries are many, but for now it seems to be a two-way race between Trump and DeSantis, with the latter at a disadvantage but backed by Elon Musk. 

On the other hand, as far as the Democratic Party is concerned, in addition to Joe Biden, who has a clear lead over all the other candidates in his party, there is also his deputy, Kamala Harris, with Robert F. Kennedy Jr. still not even considered among the likely winners by the various polls. 

As a result, there is a remote possibility that both candidates for next year’s US presidential election are pro-crypto, but for now it appears really remote. 

However, there is a greater probability that at least one of the two will be. 

Moreover, right now the Republican candidate is given to win over the Democratic candidate, so in the event that DeSantis succeeds in beating Trump, there could be a good chance that he could also win the presidential election, thus becoming the first openly pro-Bitcoin US president. 

The support of Twitter co-founder

Jack Dorsey is now working on other things, but he remains the celebrated co-founder of Twitter. 

However, his support for Kennedy is unlikely to prove decisive, not least because Dorsey has never been particularly active on the social network. 

It is enough to say that Elon Musk has more than 142 million followers, while Jack Dorsey “only” six and a half million. 

Nevertheless, his explicit endorsement of Robert F. Kennedy Jr. is making much headlines.

Note that in his endorsement tweet he shared a video posted on YouTube by Fox News in which Kennedy says he believes he can beat both Trump and DeSantis. 

Moreover, Fox News is known to be a television station that is rather close to the Republicans, and Kennedy himself has in the past expressed positions that seem closer to the Republican Party than to his party of choice. 

Perhaps it is this anomaly that has prompted some, including Dorsey, to endorse him instead of supporting Biden, Harris or other possible Democratic candidates. 

Then again, Joe Biden’s decline in popularity is evident. Averaging the various polls, while in January more than 50% of potential voters seemed to support him, that percentage has now plummeted below 41%, with nearly 55% disapproving of him. 

In other words, Biden probably no longer even appeals to many Democrats, which is why the doors for candidates like Kennedy actually remain open. 

Jack Dorsey’s prediction

The Twitter co-founder went even further, making more statements.

In fact, to an explicit question from a user regarding his attitude, asking if his was “only” an endorsement or was it also a prediction of possible victory, Dorsey replied “both.” 

It seems that he believes it is possible not only that Kennedy could beat Biden or Harris in the Democratic Party primaries, but that he could also defeat Trump or DeSantis in the presidential election. 

However, the co-founder of Twitter is not known for his ability to make correct predictions about the outcome of elections. 

Support for crypto on Twitter

Robert F. Kennedy Jr. is a very strong supporter of Bitcoin.

This support of his might even come in handy during next year’s election campaign, although perhaps in reality it could be a burden during the primaries. 

Indeed, in the US it seems that it is mainly Republicans who appreciate the financial freedom provided by Bitcoin and cryptocurrencies, while Democrats are more skeptical. 

For example, the US politicians who have done the most to try to curb the rise of the crypto sector have been Democratic politicians themselves. 

Thus Kennedy may pay heavily for his unconditional support of Bitcoin during the primaries, while paradoxically it may come in handy should he get to challenge the Republican presidential candidate. 

His support for Bitcoin seems decidedly sincere, not least because he has reiterated it many times. 

In particular, Kennedy resents the Fed’s monetary policy as overly expansionary in 2020/2021, and overly restrictive in 2022/2023. 

He also stated in no uncertain terms that he considers Bitcoin to be an example of democracy, although in truth no election is being held concerning the operation of Bitcoin. 

Nevertheless, the fact remains that, at least during the primaries, there will most likely be a lot of talk about Bitcoin and cryptocurrencies, whereas if Biden and Trump win, there will be much less talk about it during the actual campaign to elect the next president of the United States of America.