On March 11, 2025, Representative Ro Khanna delivered a compelling speech at the Bitcoin Policy Institute’s Bitcoin for America summit. In his address, he emphasized, “Bitcoin has the power to change lives globally,” underscoring his belief that the Democratic Party should adopt it as a tool for global financial empowerment, not just within the U.S.
This has been a consistent message from Rep. Khanna for years. He has actively encouraged his fellow Democrats to embrace Bitcoin, urging them to see it in the same transformative light as other landmark technologies like the internet.
“My aim is to make Bitcoin a bipartisan issue,” Khanna explained to Bitcoin Magazine. “I want Democrats to recognize Bitcoin as a future-oriented store of value utilized by millions worldwide. If America champions Bitcoin, we can connect with some of the world’s most marginalized communities.”
Given the party’s tradition of advocating for financial inclusion, it’s somewhat perplexing that many Democrats haven’t warmed up to Bitcoin, an open-source innovation accessible to anyone with an internet connection—and in some cases, even without one.
Khanna acknowledges that although he remains one of the more outspoken Democratic proponents of Bitcoin, there has been significant growth in support from his party members over recent years.
“We’ve grown from a mere 10 supporters of Bitcoin and crypto within the ranks to approximately 70 or 80,” he noted. “Progress has been gradual.”
Some attribute the traditional Democratic skepticism towards Bitcoin to malice, but Khanna believes it’s more about a lack of understanding.
“Some Democrats are unaware of Bitcoin’s potential for streamlining remittances or aiding those without access to U.S. currency,” he pointed out. “This lack of awareness spans many people, including some within our party.”
Research from Coinbase highlighted that in swing states during the last presidential election, the number of crypto holders significantly exceeded the vote margin between Biden and Trump. Some speculated this crypto voting bloc played a pivotal role in tilting the election in Trump’s favor.
While Khanna can’t pinpoint the exact impact of this bloc, he concedes, “I think it made a difference. In such tight races, every factor counts and alienating Bitcoin and crypto supporters wasn’t beneficial.”
Khanna isn’t alone in this view. At the December 2024 New York Times DealBook Summit, Van Jones, a recognized figure in the Democratic party, addressed the mistake of sidelining pro-Bitcoin and pro-crypto voters.
Khanna commended Jones, stating, “I hold Van Jones in high regard. He has roots in the Bay Area, so he understands tech. The party is gradually aligning to embrace Bitcoin and similar innovations.”
As for President Trump’s endorsement of Bitcoin, Khanna suggests Democrats should evaluate Bitcoin on its merits, shedding partisan biases.
“Politicians can assess Bitcoin objectively,” he remarked. “It’s simply a decentralized digital currency facilitating person-to-person exchanges without intermediaries. Understanding this is crucial.”
Khanna also distinguished Bitcoin from so-called meme coins, critiquing the confusion surrounding President Trump’s coin ($TRUMP) and its impact on perceptions of crypto.
“Officials, like President Trump, launching meme coins only muddle the crypto narrative,” he asserted.
Looking ahead, are there more pressing issues Democrats should focus on than Bitcoin? Khanna believes the party shouldn’t ignore Bitcoin, yet acknowledges bigger challenges, such as Medicaid cuts and unstable tariff policies.
“The Democrats got it wrong on innovation and Bitcoin in the early 2020s, but now we have a chance to be on the right side,” he urged.
For pro-Bitcoin Democrats eager to reshape the narrative, Khanna offered advice: “Highlight our leadership on Bitcoin and crypto. Encourage government officials to become informed on the issue and promote Bitcoin’s widespread adoption.”
