Bloomberg Might be the Mobile Payments Candidate, Says deVere Group

February 25, 2020         By: Steven Anderson

With the 2020 US election now just a few months away, candidates are being scrutinized for their stances on a range of topics, each of which can have profound effects on voters’ lives. Michael Bloomberg, a newcomer candidate to the Democratic Party, is under no less scrutiny. Based on word sent our way from the deVere Group, though, there’s one point on which Bloomberg could get some nods: cryptocurrency.

As we all well know by now, cryptocurrencies represent one of the biggest new potential advances in mobile payments since the first arrival of the e-wallet system roughly a decade ago. Since, we’ve seen responses to cryptocurrency that range from eager adoption to nationwide ban, which makes it rather difficult to track the future of this technology.

That’s where the deVere Group suggests Bloomberg may have an edge. The group’s CEO, Nigel Green, noted that Bloomberg is, so far, “…the only candidate to become president of the world’s largest economy who has devised a coherent plan for cryptocurrencies.” With many now coming to regard crypto as “the future of money,” as Green puts it, having a plan for such operations going forward could be a useful strategy to have.

This is opposed somewhat to current president Donald Trump, who considers cryptocurrencies to have a “highly volatile” value and also a basis in “thin air.” This rubbed Green wholly the wrong way, prompting him to respond “Does the President seriously think that traditional, fiat currencies are the way forward?… Cryptocurrencies are redefining and reshaping the financial system. The Leader of the Free World needs to be ahead of the curve and on the right side of history on such a fundamental issue.”

Admittedly, a stance on cryptocurrency alone isn’t likely to be the deciding factor in a presidential election. It could tip a few scales, knock a few fence-sitters into one camp or another, but even at this stage, cryptocurrency is too niche an issue to make a decision on the leader of the free world.

Still though, it may give Bloomberg a bit of an edge. Sure, he’s not likely to get far with farmers or the elderly or anyone who likes a large soda given some of his previous stances, but for those who want to see cryptocurrency come fully into its own, then Bloomberg may be just the guy to talk to.