United States Senate candidate Austin Petersen, known as an ardent Bitcoin supporter and advocate has lost his Republican primary election. According to results published by the Missouri Secretary of State, Petersen lost to fellow Republican favorite; Attorney General Josh Hawley who garnered 58.6% of the 663,553 votes at the primary, with Petersen finishing third with 8.2% of the total votes.
Mr Petersen in his post primary speech said;
“Deeply sorry I couldn’t pull out a win for us, friends. My faults as a candidate are my own and not the fault of our activists. I am not a perfect messenger. One day soon I believe we will see more leaders who rise up and fight for our cause more fiercely and successfully than I.”
In February 2018, it was reported that Austin Petersen’s campaign for Senate received donations in Bitcoin amounting to a sum total of about $10,000 and this was termed one of the largest single BTC donations ever received in a federal election. He was also claimed to have rejected six-figure cryptocurrency donations due to financial regulations guiding campaign proceedings. The first donation received in December 2018 was 0.284 BTC which at that time was worth over $4,500 equivalent to the US dollar and exceeded the Federal election donor limit of $2700 per individual.
Petersen’s manager in a corroborating statement specified that this donation was to be split towards the primary election and the subsequent general election. He further opined they were most likely going to have more cryptocurrency donations towards Petersen’s candidacy and he’s client remains a personal fan of competition in the marketplace of which cryptocurrencies like Bitcoin fit this designation against fiat.
The emergence of Petersen who previously ran for president in the 2016 Libertarian primaries was purported as an opportunity for crypto advocates to have an extra lawmaker on their side as most congress members have called for increased control and regulatory measures,with some out rightly striking off crypto as a refuge for illicit activities and users.
The adoption and increased publicity generated by US public office holders and aspirants towards Bitcoin has become resounding with a recent declaration by the Judiciary Chair of US House of Representatives, Congressman Bob Goodlatte stating he owns about $80,000 in crypto while making his mandatory annual financial disclosure statement.
It is thereby envisaged that as more law makers thread this path of publicity as regards cryptocurrency, the call for mass adoption and decent legislation is nigh.