Andrew Yang shows support for bitcoin and announces new party

The former Democrat is a fan of bitcoin and ethereum

Andrew Yang speaks during National Action Network 2019 convention at Sheraton Times Square - Photo:Shutterstock

Andrew Yang, former member of the US Democratic Party and candidate for the 2020 Democratic Party president primaries has announced the launch of his own political party and expressed to be a “big” supporter of bitcoin.

On Yang’s Twitter profile he released a video announcing his new party, the Forward Party.

In this thread, Jeff Booth, an entrepreneur and bitcoin enthusiast asked Yang: “Are you going to make advancing bitcoin and the free market a primary part of your campaign?”

Yang responded: “Big proponent of bitcoin and cryptocurrencies generally – and want to allow fiat prices to go down as they should as things get more efficient instead of assuming the inflation model. Learned a lot from you Jeff.”

Plenty of Twitter profiles with red eyes reacted to this comment

Plenty of crypto fanatics responded to Yang’s comments, with Twitter profile pictures featuring red laser eyes.

Adding red laser eyes to a Twitter profile picture, is trending among bitcoin bulls who believe the lead crypto will continue to soar in price.

When one bitcoin supporter telling the former Democrat to “go all in on bitcoin”, Yang responded: “Forward Party knows that bitcoin is a big part of the future.”

Another bitcoin enthusiast said that bitcoin is the only cryptocurrency to focus on, to which Yang replied: “I think ETH has some fascinating capacities.”

Yang also suggested that he may be willing to make government transfers in crypto as he tweeted: “Who’s to say UBI has to be in fiat?” UBI stands for Universal basic income which is a government program in which every adult citizen receives a set amount of money regularly.

Not the first US politician to speak well of crypto

Miami mayor, Francis Suarez has expressed support for cryptos and has attempted to integrate it into everyday life in Miami.

The city of Miami in June held the largest crypto gathering ever, ‘bitcoin2021’ which had a sold-out crowd of 12,000 people attending.

The event featured talks from Jack Dorsey, CEO of Twitter and Square, bitcoin bull Michael Saylor, who is CEO of MicroStrategy Incorporated (MSTR), an independent publicly traded business intelligence company and skateboarding legend Tony Hawk who has invested in bitcoin.

Other speakers included Cynthia Lummis, an American politician serving as the junior US senator from Wyoming. Also on the panel was Ron Paul, an American author, activist, physician, and retired politician who served as the US Representative for Texas's 22nd congressional district.

Suarez told CNBC in a June interview that he wants Miami to be “seen as a city that focuses on the next series of technological advances like artificial intelligence (AI), crypto and biotech.”

The mayor also said he is actively looking into allowing people to be paid in bitcoin, where workers can choose to receive part or all their pay in crypto. As well as letting some tax payments to be paid in crypto.

Suarez himself holds both bitcoin and ethereum.

Further reading: House of Lords inquiry into central bank digital currencies

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