Bitcoin Transcends Electoral Politics – Bitcoin Magazine

The 2020 U.S. Presidential Election swept over the nation with chaos and turmoil. The election mess, with alleged voter fraud, ballot tampering and the removal of Republican election observers challenged the notion of a fair and free election. On the Saturday after Election Day, when major news networks and the Associated Press called the presidential race for Joe Biden, disputes over the outcome with recounts and federal lawsuits quickly fended off the blue waves that were spreading in Democratic states.

In the midst of the increased tension, when the American people showed a vote of no confidence in the integrity of the electoral process, the bitcoin price surged to over $15,000, marking the highest mark since its all-time high historic run in 2017. Tyler Winklevoss, co-founder and CEO of the Gemini cryptocurrency exchange, tweeted:

“The rise of Bitcoin is a referendum on politicians, governments, and bankers around the world.”

Bitcoin, which came into existence in the aftermath of the 2008 financial meltdown, has shown steady development over the past 12 years. With an ability to “be your own bank,” this open-source electronic cash began to enable financial freedom. Now, as a contested election deepens a crisis of legitimacy, Bitcoin presents an alternative to the existing system of governance.

Electoral Politics As System Of Control

The disarray of the U.S. presidential election began to reveal the true nature of the political system that is presented as democratic. Electoral politics is a system of control, designed by wealthy elites to maintain their power — a representative form of government that is built hierarchically to fragment the interests of people within the system. This creates a fertile ground for identity politics.

The oligarchic class, which has no allegiance to any country, exploits people’s national identity, placing their interests in opposition to the interests of people who were born and live in other countries. Within…

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