In an unexpected turn of events, Elizabeth Warren, the long-time adversary of Bitcoin on Capitol Hill, has seen the orange-tinted light and quite literally raised a flag to praise the work of Bitcoin’s anonymous creator, Satoshi Nakamoto, celebrating 15 years since the network launched.
While the sudden embrace of Bitcoin by the Massachusetts Senator may seem a surprise, her career-long rhetoric about fighting for the financially under-served has finally taken shape within this tangible statement. As if speaking to her campaign promises to champion the working class negatively affected by corruption within both the government and the banking sector, the certificate produced by the Architect of the Capitol in recognition of the flag notes the “new economic freedoms to populations previously ignored by both private and public institutions” brought forward by Nakamoto’s Bitcoin.
Only one week before Warren ordered the flag flown, the Senator introduced legislation to give the Treasury more tools to restrict the criminal usage of Bitcoin, making bold comments that they “need new laws to crack down on crypto’s use in enabling terrorist groups, rogue nations, drug lords, ransomware gangs, and fraudsters to launder billions in stolen funds, evade sanctions, fund illegal weapons programs, and profit from devastating cyberattacks.” She even went so far as to make note of creating “an anti-crypto army” in March of last year, in her bid for reelection. Warren had co-authored a letter to Fidelity CEO Abigail Johnson in May 2022 raising concerns about putting Bitcoin within their 401(k)s, stating that, “Investing in cryptocurrencies is a risky and speculative gamble, and we are concerned that Fidelity would take these risks with millions of Americans’ retirement savings.”
Now that U.S. regulatory agencies such as the SEC have allowed the approval of 11 spot Bitcoin ETFs, including Fidelity’s FBTC, Warren has changed her tone, recognizing the immense economic freedom brought about by such a novel technology, and now joins a growing group of elected officials throwing their name behind Nakamoto’s protocol.
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