Several pro-crypto political action committees (PACs) have been established ahead of the midterm elections with an agenda to “vote out anti-crypto politicians.”
What Happened: On Monday, Fortune reported that the Financial Freedom PAC, also called the ‘Bitcoin (CRYPTO: BTC) PAC’ had been set up to elect candidates to uphold the rights of Bitcoin holders in the United States.
The PAC was introduced by Grant McCarty, the director of policy and public affairs at Bitcoin Magazine, at the Bitcoin 2022 conference in Miami.
McCarty also announced the Bitcoin Advocacy Project (BAP) and the Bitcoin Policy Institute that would aid the Bitcoin Super PAC in its efforts to “bring about an orange wave across Washington.”
“In addition, BAP supported the creation, development, and funding of the Financial Freedom PAC — the first Bitcoin Super PAC that aims to elect Bitcoin champions and vote out anti-Bitcoin politicians like Brad Sherman and Elizabeth Warren,” said McCarty.
Warren has been a vocal critic of cryptocurrencies, recently stating that buying Bitcoin is like “buying air.”
Tesla Inc (NASDAQ: TSLA) CEO Elon Musk and Dogecoin (CRYPTO: DOGE) creator Billy Markus have publicly opposed Warren’s views. Markus referred to Warren as “satan” when he learned that she was drafting a bill to track transactions between private cryptocurrency wallets.
According to the Bitcoin PAC’s official website, it will only accept donations in Bitcoin and not fiat currency.
“This is a feature, not a bug. Please donate bitcoin,” stated the PAC.
The committee has listed four candidates it currently supports — Republican candidates Blake Masters and Josh Mandel, and Democratic candidates Aarika Rhodes and Matthew Diemer.
Earlier this year, Coinbase Global Inc (NASDAQ: COIN) registered a PAC aimed at financially supporting pro-cryptocurrency candidates.
Price Action: According to data from Benzinga Pro, Bitcoin was trading at $40,000, down 5.19% in the last 24 hours.
