Elizabeth Warren Explains Her ‘Anti-Crypto Army’ Stance; Waves of Democrats Oppose Her Bitcoin Criticism

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 likened buying bitcoin to “buying air.” Despite her stated distrust of banks, Warren told the show host that as far as central bank digital currency (CBDC) is concerned, she thinks “it’s time for us to move in that direction.”

Warren Compares Buying Bitcoin to ‘Buying Air,’ Says It’s Time to Move in the CBDC Direction

The Democratic senator from Massachusetts, Elizabeth Warren, has been vocal about her skepticism of cryptocurrencies such as bitcoin (BTC), citing risks and negative environmental impacts associated with bitcoin mining. Moreover, 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 her 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 that backs it up, it’s simply a matter of belief,” she told Chuck Todd during the interview. When Todd asked if bitcoin could be compared to a painting, she rejected the comparison, stating that with a painting, she could physically possess 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 interest rate hikes. During her 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 in 2008. “How many times did people say, ‘Real Estate always goes up. It never goes down’? They said it decades ago before the last real estate bubble. They said it in the 2000s, before the crash in 2008,” Warren stated. Warren ultimately believes that 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 dissatisfaction with her position.

Many of the responses to her recent tweet about building an “anti-crypto army” have been negative, with individuals expressing their disappointment in Warren’s views. “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 do 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 for the banks,” another person tweeted at Warren. What are your thoughts on Senator Warren’s anti-cryptocurrency stance and her call for a central bank digital currency? Do you agree or disagree with her views? Share your opinion in the comments below.