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Elizabeth Warren Explains Her ‘Anti-Crypto Army’ Stance; Waves of Democrats Oppose Her Bitcoin Criticism – Bitcoin News
Elizabeth Warren, the Democratic senator from Massachusetts, has recently launched a political campaign against cryptocurrencies as she seeks a third term in office in 2024. In a recent interview on “Meet the Press Reports” with NBC’s Chuck Todd, Warren compared buying bitcoin to ” buys air.” Despite her stated distrust of banks, Warren told the host that when it comes to central bank digital currency (CBDC), she believes “it’s time for us to move in that direction.”
Warren Compares Buying Bitcoin to ‘Buying Air’, Says Time to Move in CBDC Direction
Massachusetts Democratic Senator Elizabeth Warren has been vocal about her skepticism about cryptocurrencies like bitcoin (BTC), citing the risks and negative environmental impacts associated with bitcoin mining. Also, Warren recently attributed the liquidation of Silvergate Bank to “crypto risk.” During a recent interview with Chuck Todd on “Meet the Press Reports,” Warren reiterated his distaste for bitcoin. “If I buy bitcoin, what am I buying? Are you buying air?” Senator Warren asked. “With bitcoin, there’s no underlying asset backing it, it’s just a matter of faith,” she told Chuck Todd during the interview. 
When Todd asked if bitcoin could be compared to a painting, she dismissed the comparison, stating that with a painting she could physically own it and throw darts at it. “Instead of bitcoin, we should be discussing digital currency,” Warren suggested, noting that digital currency is different from bitcoin as it is backed by the government. 
Warren has been a vocal opponent of the Federal Reserve’s recent rate hikes. During the interview with Todd, she expressed her belief that while banks are not perfect, it is time for the government to move towards a central bank digital currency (CBDC). 
The Massachusetts politician also drew comparisons between the digital world and the real estate crash of 2008. “How many times have people said, ‘Real estate always goes up. It never goes down’? They said that decades ago before the last real estate bubble. They said that in the 2000s, before the 2008 crash, Warren said. Warren believes that ultimately the crypto industry will be subject to strict regulation. Despite Senator Warren’s anti-cryptocurrency stance, a number of Democrats have taken to social media to express their displeasure with her position.
Many of the responses to her recent tweet about building an “anti-crypto army” have been negative, with individuals expresses his disappointment in Warren’s view. “Pro-tyranny army – I guess we shouldn’t be surprised since you have personally benefited from the current corrupt system,” one person told the senator. “The big banks really own you, don’t they? It only took two terms in the Senate. I wish you would start fighting for the people again instead of the banks,” another person tweeted at Warren. What are your thoughts on Senator Warren’s stance on cryptocurrency and her call for a digital central bank currency? Do you agree or disagree with her views? Share your opinion in the comments below.
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