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Bitcoin's Future Looks Bright as Kanye West Decides to Run for President 2020

Kanye West dropped a bomb on social media on July 4—American Independence Day—and indicated his intentions to run for President in the 2020 US Elections. This is exciting news for Bitcoin (BTC), as Kanye has publicly expressed his support for the cryptocurrency.

On July 4, Kanye tweeted:

“We must now realize the promise of America by trusting God, unifying our vision and building our future. I am running for president of the United States! #2020 vision.”

Kanye, one of the world’s most influential musicians has been very vocal on his support for Bitcoin and the crypto industry. He told TMZ that he would like to see the blockchain industry evolve. Kanye tweeted the word “decentralize” on his social media platform, advocating for Bitcoin usage and expressing his desire to see the BTC cryptocurrency replace traditional American dollar bills.

Elon Musk and Cryptocurrency

Backing Kanye West’s announced run for president is the eccentric billionaire and Tesla CEO Elon Musk, who tweeted out in support of Kanye’s post.

Elon Musk, one of the biggest names in the technology industry and the 31st richest in the world by Forbes (2020), is a friend of Kanye’s. Musk is quite influential in the crypto community and has on several occasions expressed his stance on cryptocurrencies such as Bitcoin.

Elon Musk’s Views on Bitcoin

Musk has also expressed a distaste for the monetary policies of the Federal Reserve. He recently appeared on the Joe Rogan Experience Podcast and said that the way the US planned on handling the inflation caused by the coronavirus pandemic was inefficient, as their stimulus packages were not the best solution.

The SpaceX creator recognizes Bitcoin (BTC)’s advantages and thinks that BTC founder Satoshi Nakamoto’s whitepaper was “pretty clever.” Musk also states that though crypto supporters may not want to hear this, Bitcoin may be a bridge between the black market and the legal economy. In his opinion, as cash is becoming increasingly hard to use, Bitcoin might take over in replacing it and in furthering the economy.

Charles Hoskinson to Airdrop Kanye Coin and Pierce Coin to Demonstrate Cardano’s Multi-Asset Standard

With the recent new announcements of US presidential candidates, Kanye West, and Brock Pierce, crypto venture capitalist, and former child star, Cardano’s Charles Hoskinson made new announcements.

Just one more day to go with the availability of participants being able to interact with the Shelley mainnet launched on June, 30; Charles Hoskinson, the founder, and CEO of Input Output (IOHK), the blockchain engineering firm behind the Cardano blockchain, took it to his “Ask me anything” (AMA) session on YouTube, addressing the recent news on the US Presidential candidates, Kanye West and Brock Pierce.

“If it’s not a joke, when Cardano has native assets, to demonstrate the power uniqueness of native assets, we will issue Kanye Coin, and the circulation will be 1 token for each vote that Kanye gets in the election.”

He added that they could be collector’s items and Cardano will airdrop them proportionally to all the ADA holders. “We wish you very well, Kanye,” he said.

Backing Kanye West’s wish to run for president is technology multi-billionaire Elon Musk, who tweeted a reply to Kanye’s post. He stipulated enthusiastically that the American rapper had his full support.

In addition to the Kanye Coin, Hoskinson mentioned that he is also old friends with crypto venture capitalist Brock Pierce, and he is committing to doing the same for Pierce. The Founder and CEO of IOHK mentioned that it is a good way of demonstrating how multi-asset standard works, and connections through real-life events. This will require an oracle, and Cardano will look to build one to get it running, hopefully before the election, said Hoskinson.

Charles Hoskinson’s Surprise AMA July 6, 2020 on YouTube.

The multi-asset standard is expected to be released within 120 days, as announced at the recent Cardano Virtual Summit Shelley Edition. The event was held on July 2-3, with a massive turnout of about 10,000 participants, according to Hoskinson.

“We got 120 days to kick it into overdrive, I don’t like to lose. I like to win. […] We have the momentum and the wins at our back, and if we really commit and push in with the community in the ecosystem, we’re going to wake up at the end of the year and it’s going to be inevitable and I’m going to be able to make that tweet—GG, V. Then, we go for number 1.”

To have a prediction market in place, Cardano could leverage the cFund, its technology ecosystem fund launched alongside Wave Financial, with investments made globally with a typical size of $250,000-$500,000. Participants can make predictions of which coin will have a higher circulation—Kanye Coin or Pierce Coin.

The fund will total in $20 million which will provide money for companies and projects in the Cardano ecosystem. IOHK will be committing to half of the fund, $10 million, while Wave will be raising the other half.

Cardano’s potential “own monetary policy”

According to Hoskinson, Cardano is likely to conduct two experiments, one on ERGO, and a likely a joint venture between ERGO and Emurgo, as the company is almost finished with its due diligence. The other experiment would be a basket coin, which is made up of a collection of pre-existing stablecoins, hold them on reserve on a cryptocurrency, and then use an oracle to “inject that basket on Cardano.”

The projects are still in their early days, and the stablecoin could be under its own monetary policy rather than the US dollar.

Cardano Founder Charles Hoskinson Addresses an Alleged ADA Scam in China

Scammers are capitalizing on the recent success of Cardano’s cryptocurrency, ADA, and using it for their own personal gain. For the first time in over a year, ADA has moved above $0.10, and has picked up by over 200 percent.

According to a video footage shot by cryptocurrency podcaster and founder of Boxmining Michael Gu, a group of farmers in China is being hustled with Cardano and ADA. The fraudsters, operating under the name of “Asian Dragons,” was purported to be seen advertising Cardano merch and ADA. In the video, one can see Cardano Founder Charles Hoskinson plastered at the front for the audience to see.

Since the incident, Cardano Foundation and CEO Charles Hoskinson have come out publicly and addressed the incident, making it absolutely clear that they are not in any way associated with the cryptocurrency sales pitch.

Hoskinson even went further and filmed a YouTube video, inputting his two cents on scams and illegal activities. He states that he has also seen every ICO scam under the moon, as he has been in the business for quite some time. Hoskinson shares that it is unfortunate that his hard work was plagiarised and dumbed down to a mere marketing scam:

“You work five years on something, you put your heart and soul into it, you just have a giant event that 10,000 people attend. Then you see floating around Telegram, Twitter, some video — some scammers in China using my face, our company’s logo, the Cardano Foundation’s logo who have absolutely no affiliation with us.”

As the altcoin ADA skyrocketed in the month of July, market experts have disclosed that it is the highest price level it’s been at since June 2019. Currently, ADA is experiencing a 200% year-to-date gain, making it the biggest news on crypto markets. ADA’s counterpart Bitcoin, which is the top cryptocurrency on crypto markets, only saw a surge of 30% this year.

On top of his recent success with his blockchain firm, Input Output (IOHK) CEO Hoskinson also spoke up in support of Kanye West’s recent announcement that the rap star wished to run for presidency. Hoskinson took to his YouTube platform once again and said,

“If it’s not a joke, when Cardano has native assets, to demonstrate the power uniqueness of native assets, we will issue Kanye Coin, and the circulation will be 1 token for each vote that Kanye gets in the election.”

Kevin Hart Jokingly Calls Crypto “Voodoo Money” While Kanye West Takes Bitcoin Seriously on Joe Rogan’s Podcast

Comedian and actor Kevin Hart recently commented on Bitcoin and other cryptocurrencies during a livestream event for MDA USA. MDA is an organization based in the United States to support those who are affected by muscular dystrophy, ALS and other neuromuscular diseases.

A crypto-based non-profit organization, The Giving Block, first noted that Kevin Hart had a brief mention of Bitcoin during the MDA Kids Telethon. While asked by one of his friends, Jay Ellis, whether the MDA accepts cryptocurrencies such as Bitcoin, and Ethereum, Hart made a joke.

Hart said in confusion that cryptocurrencies, including Bitcoin and Ethereum, were “voodoo money.” In a joking manner, Hart responded:

“We don’t take the voodoo. So if you’re out here trying to give us the voodoo money, we don’t, what? We do take the voodoo. Oh wait, hold up — I’ve been told that we do take cryptocurrency. I’m being told that it’s a legit investment worth almost $250 billion. Okay yeah, we do take it. Ok, so we do take it.”

Shortly before Kevin Hart mentioned cryptocurrencies during the MDA Livestream, Kanye West also discussed Bitcoin and cryptocurrencies with Joe Rogan on his world-famous podcast. West is no stranger to Bitcoin, as he has previously been very vocal about his support for BTC and the crypto industry.

Kanye West discusses Bitcoin and crypto with Joe Rogan

West told TMZ that he would like to see the blockchain industry evolve, and even went to tweet “decentralize” on Twitter, advocating for Bitcoin adoption and expressing his desire to see BTC replace traditional American dollar bills.

During Joe Rogan’s podcast, West said that he has been recently discussing Bitcoin and crypto with his friends, in preparation for the interview with Rogan. Joe Rogan has also been supporting cryptocurrencies, having hosted Bitcoin advocate Andreas Antonopoulos, and even Elon Musk on his podcasts.

West found that the “Bitcoin guys,” those who are involved in crypto, have a perspective of what the “true liberation of America and humanity will be.” He added:

“A lot of the tech guys were able to use the new highways, new information highways, and create the next frontier of our humanity.”

Although West did not end up running for president in 2020, West talked more about his desire to be the ‘leader of the free world.” Perhaps in this free world, it would be decentralized.