Senior Adviser, Barack Obama, California discussed on Bloomberg Businessweek

Automatic TRANSCRIPT

And what his connection is to bitcoin hero bryan young are former senior adviser for technology and barack obama's white house who has returned to his hometown in orange county california in is running for a very important congressional seat there currently held by republican but what's most interesting about his candidacy is that almost all of the more key bitcoin donors and enthusiasts have piled into support him because before or just after he will he left the white house he became the head of the digital currency initiative at mit is medialab basically a cryptocurrency evangelist and if you look at all that has been going on with cryptocurrencies in the fact that washington regulators are becoming increasingly important the bitcoin community is very eager to have somebody who understands they're issue in congress where most people as you know are in the '60s '70s and '80s to get somebody in the congress who understands what it is and walled inadvertent leads welsh what looks to be a growing and emerging emerging us industry and then one thing that we have to point at this stage i think he's just shared volatility that we've seen in bitcoin and if we're talking about some really big names might nova gradiska winkle vaas brothers of coast as well a wellknown in this sector has to share volatility impacted this support that that providing him or just made that support all the more necessary i think very much the latter all of these candidates and i listen to you know ten or so in the story have maxed out to forge a given the fed roll maximum allowed limit twenty seven hundred to his primary campaign twenty seven hundred to his general election campaign uh what what's interesting actually just just as a side point here is that some of them have donated actual bitcoin's there's a part of my piece about how the federal election commission doesn't quite know how to grapple with it's not like dollars is he said it's something has changed in value quite a bit i think i think.

Coming up next