The third biggest party in the United States refers to Bitcoin as a “decentralised monetary revolution”
Cryptocurrencies like Bitcoin (BTC) seem to be gaining more political support in the United States, with the nation’s third-largest political party voicing public approbation of the flagship digital asset and confidence in its future strength.
In a tweet on July 24, the Libertarian Party of the United States said that Bitcoin was spearheading “a decentralised monetary revolution” and that this revolution had the potential to disrupt the established banking institutions.
A libertarian view on cryptocurrency
In a blog post dated February 2020, the Californian section of the Libertarian Party declared support for cryptocurrencies, referring to Bitcoin as the “greatest weapon of human liberty that mankind has ever invented.”
The author, Marvin Byrd, who worked in cyber security in 2010 when Bitcoin was in its infancy, explained in his blog post what gave the first cryptocurrency its significant underlying value: Bitcoin is decentralised and needs no trusted third party. They are just nonexistent.”
According to him, no government can shut down Bitcoin, no owner can corrupt or steal from the system, and there is no entity to trust to utilise the digital currency, making it “the most trustworthy system ever devised.”
The party also takes cryptocurrency contributions made via BitPay, which enables users to make payments in Bitcoin and other prominent cryptocurrencies.
Speaking of donations, California’s Fair Political Practices Commission adopted July a new rule permitting state and municipal office candidates to accept campaign contributions in cryptocurrency.
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