Bitcoin-Backing Presidential Candidate Andrew Yang Drops Out

On Feb 11, Andrew Yang exited the race to become the United States Democratic party’s presidential candidate in the upcoming general election. Speaking to the press in New Hampshire, Yang said, “I am the math guy, and it is clear tonight from the numbers that we are not going to win this race.”

I am so proud of this campaign. Thank you to everyone who got us here. 🙏

— Andrew Yang🧢🇺🇸 (@AndrewYang) February 12, 2020

Yang, who rapidly gained the attention of voters with his views on Universal Basic Income (UBI) and cryptocurrencies in a field filled with familiar party faces, was a standout candidate for many. Yang stood toe-to-toe against other Democratic stalwarts who have decades of experience serving in the government. Polls showed that Yang was nowhere near the support levels of Bernie Sanders, Joe Biden, or Elizabeth Warren. But Yang continued to press on since his run began in 2017, eager to use the campaign space to give his ideas some attention — not the least of which was his support for cryptocurrencies.

Yang’s Pro-Cryptocurrency Views

Yang has made explicit policy remarks on Bitcoin and cryptocurrencies on the campaign trail, stating that the technological revolution that Satoshi Nakamoto launched could not “impede” investors of cryptocurrencies and that the U.S. was lagging behind other nations with respect to regulations. In November 2019, Yang elaborated on his plans for cryptocurrencies if he to be elected. Stating that regulations were getting in the way of the flourishing of cryptocurrencies, Yang proposed that a unified regulatory approach was required for innovation, as opposed to the “hodge-podge of state-by-state treatments.”

Tributes Pour In

Following the announcement, many notable names from both the cryptocurrency and political worlds offered tributes to Yang and his campaign. Twitter and Square CEO, Jack Dorsey, who has on multiple occasions described his enthusiasm for Bitcoin, thanked Yang for the run and ‘bringing UBI back into the conversation.’

Really sad Andrew is dropping out. He’s an incredibly authentic person who was focused on solving the big existential problems facing the world. Thank you Andrew for bringing universal basic income back into the national conversation. It’s well overdue. #yanggangforever https://t.co/hwdeXSPba0

— jack (@jack) February 12, 2020

United States House of Representatives member, Alexandria Ocasio-Cortez, who is also extremely popular with younger generations, congratulated Yang on the attempt. https://twitter.com/AOC/status/1227420120504512514