Elon Musk has publicly stated that he supports US presidential candidate Andrew Yang, known to be a bitcoin advocate.
“I don’t expect people to agree with me on everything- that would be odd. My main hope is that people trust that I’m trying to solve problems and I’m open to different approaches – particularly if the data drives in a particular direction. Changing one’s mind is not a bad thing”.
Yang is currently the only candidate for the presidency of the United States of America who also accepts bitcoin donations.
Actually, with the help of some bitcoiners that support him, he has launched a crypto-friendly super PAC (political action committee) called Humanity Forward Fund (Humanity FWD), which accepts bitcoin donations thanks to the OpenNode PAC payment processor which can also handle payments with the Lightning Network.
Humanity FWD has even launched a fundraising campaign that, from July 25th, 2019 until August 14th, 2019, will accept only bitcoin donations.
Humanity FWD publicly declares to be pro-Bitcoin, in favour of innovation, and in favour of monetary sovereignty.
However, this is probably not the reason why Elon Musk decided to support him. Yang is, in fact, a supporter of the so-called universal basic income, a topic which Musk himself is particularly fond of.
Yang’s proposal is to ensure all American citizens over the age of 18 a basic income of 1,000 dollars per month.
In the past, Elon Musk declared:
“I think we’ll end up doing universal basic income. It’s going to be necessary”.
The CEO of Tesla, however, agrees with Yang that cryptocurrency technology is a positive development, calling it
“better than paper money”.
In any case, the real chances of Andrew Yang winning the US Democratic Party primaries do not seem particularly high at the moment, and Elon Musk’s endorsement might not be enough to reverse this trend.
It is thus rather difficult that his proposals can really make a difference to American politics in the coming years.