A known supporter of Bitcoin, DeSantis has openly opposed the idea of a government-issued central bank digital currency, calling it a threat to financial freedom.
By Mercy Tukiya Mutanya
Edited by Julia Sakovich
Updated
3 mins read
Central Bank Digital Currency (CBDC) opponent Ron DeSantis has ended his presidential campaign and pledged support to fellow Republican and former US president Donald Trump.
DeSantis, who is also the Governor of Florida, announced his withdrawal from the presidential race in a 21 January post on social media platform X. In a 4-minute video clip, DeSantis stated that he could not stay in the race with no clear path to victory in sight.
“I can’t ask our supporters to volunteer their time and donate their resources. We don’t have a clear path to victory. Accordingly, I am today suspending my campaign,” he said before confirming predictions that he would back Trump. “I will not stop now. It’s clear to me that a majority of Republican primary voters want to give Donald Trump another chance.”
“Success is not final, failure is not fatal: it is the courage to continue that counts.”
– Winston Churchill pic.twitter.com/ECoR8YeiMm
— Ron DeSantis (@RonDeSantis) January 21, 2024
DeSantis began his presidential campaign in July 2023 and was seen by some as the candidate most likely to pose a real challenge to Donald Trump for the Republican party’s presidential nomination. The governor placed second, after Trump, in the Iowa primary for the Republican party.
A known supporter of Bitcoin, DeSantis has openly opposed the idea of a government-issued CBDC calling it a threat to financial freedom. Before announcing his presidential bid last year, the governor signed into law a bill that restricts the use of CBDC in the state of Florida. He later went on to pledge that if elected president of the US, he would place a ban on a possible version of the digital dollar.
Speaking at the Family Leadership Summit on July 14 in Iowa, DeSantis said: “If I am the president, on day one, we will nix central bank digital currency. Done. Dead. Not happening in this country.”
While the Federal Reserve is only investigating the feasibility of a digital dollar at the moment, several politicians have already expressed concern about potential threats to financial freedom. Trump has also vowed to not allow the issuance of a CBDC if elected president. In a campaign speech in Portsmouth, New Hampshire last week, the former head of state asserted that a digital dollar would allow the federal government to exert “absolute control” over citizens’ finances.
“Tonight, I am also making another promise to protect Americans from government tyranny,” Trump said. “As your president, I will never allow the creation of a Central Bank Digital Currency. Such a currency would give the federal government, our federal government, absolute control over your money… They could take your money and you wouldn’t even know it was gone.”
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Mercy Mutanya is a Tech enthusiast, Digital Marketer, Writer and IT Business Management Student. She enjoys reading, writing, doing crosswords and binge-watching her favourite TV series.
