This election cycle saw a sharp increase in political spending from cryptocurrency companies, positioning the industry to influence U.S. politics. Already several states have begun exploring the creation of strategic Bitcoin reserves. As Bitcoin becomes more institutionalized, its adoption by state treasuries is seen as a victory for the crypto sector.

However, this trend raises concerns about the future rights of Bitcoin holders, as greater government oversight and institutional involvement could transform Bitcoin from the cypherpunk’s dream of decentralized, peer-to-peer currency into just another financial asset.

In the 2024 election cycle, cryptocurrency corporations have spent over…

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