- Rep. Ro Khanna urged Democrats to embrace Bitcoin, calling it a tool for financial empowerment and global inclusion at the Bitcoin for America summit.
- He emphasized the growing pro-Bitcoin stance within his party and warned that dismissing the technology could alienate voters in future elections.
Representative Ro Khanna recently spoke at the Bitcoin Policy Institute’s Bitcoin for America summit. He advocated for greater Democratic support of Bitcoin as a tool for financial empowerment.
He argued that Bitcoin, much like previous technological advancements, offers opportunities for financial inclusion both in the U.S. and globally.
“Bitcoin is transformational for so many people around the world,” Khanna stated.
“That is why the Democratic Party should be embracing it as something that can create financial empowerment for people not just in the United States, but around the world.”
Khanna has consistently pushed his party to reconsider its stance on Bitcoin, emphasizing that it should be viewed as a next-generation store of value rather than a partisan issue.
He noted a shift in Democratic support for the technology, stating that the number of pro-Bitcoin and crypto politicians within the party has risen significantly in recent years.
“We went from just 10 of us or so supporting Bitcoin and crypto to almost 70 or 80,” Khanna said.
“It’s happening slowly.”
The summit also discussed Bitcoin’s potential impact on elections. Research from Coinbase indicates that in swing states during the 2020 presidential election, the number of crypto holders outnumbered the vote differential between Joe Biden and Donald Trump by a factor of ten. Some analysts have speculated that this voter base may have influenced the election outcome.
Khanna acknowledged Bitcoin’s possible role in swaying voters but emphasized that it was just one of many factors at play.
“I think it made a difference,” he said. “In such a close election, everything matters, and the fact that there were some Democrats who offended Bitcoin and crypto voters was not helpful.”
His remarks align with those of political analyst Van Jones, who, at the New York Times DealBook Summit in December 2024, criticized Democrats for disregarding pro-Bitcoin voters. Khanna even expressed support for Jones’ stance, stating,
“I have a lot of respect for Van Jones… The party will be moving in a direction that’s going to embrace Bitcoin and other technologies.”
A Shift in Democratic Strategy?
With Donald Trump being a vocal Bitcoin supporter, some have questioned whether Democrats will continue opposing Bitcoin simply to distance themselves from his policies.
Khanna dismissed this concern, arguing that technological innovation should be evaluated on its own merits rather than along party lines.
“Politicians are capable of evaluating Bitcoin on its merits,” he said. “Bitcoin is just a decentralized digital currency that enables peer-to-peer transactions without a need for an intermediary. People just need to study Bitcoin and learn that it’s just a medium of exchange.”
However, Khanna drew a distinction between Bitcoin and speculative cryptocurrencies, criticizing Trump’s recently launched meme coin.
“We shouldn’t have elected officials like President Trump launching meme coins,” he said.
While Khanna believes that Bitcoin should not be a central issue for the Democratic Party, he argues that dismissing it outright is a mistake. He pointed to past instances where Democrats lagged behind on technological innovations and suggested that embracing Bitcoin could be an opportunity to correct course.
“There are far bigger issues at hand right now like the cuts in Medicaid, the firing of veterans, and the erratic policy of tariffs,” Khanna said. “But the Democrats were on the wrong side of issues of innovation and Bitcoin in 2022 and 2024, and we now have an opportunity to get on the right side of it.”
To shift the party’s perspective, Khanna encouraged pro-Bitcoin voters to engage with lawmakers and highlight the widespread adoption of Bitcoin worldwide. He stated that they should point to those who are leading in Bitcoin and crypto. As per him, they can encourage members of government to study the issue, so that they’re not uninformed.
Edited by Harshajit Sarmah
