Bruce Fenton, the former executive director of the Bitcoin Foundation, has announced his candidacy for the Republican Senate nomination in New Hampshire. And he’ll kick off his campaign with a $5 million self-funding injection of his bitcoin wealth.
Fenton’s announcement on Wednesday backed up previous rumors that the long-time crypto supporter and self-described libertarian was considering a Senate bid.
Senator Maggie Hassan (D-NH) is unpopular with her people, which makes her seat vulnerable to a Republican candidate – and Fenton wants to enter the race. On Wednesday, Fenton told CoinDesk that his initial $5 million donations to the campaign would be a loan, but that he would “spend and raise whatever it takes.” Fenton further added,
“I think that the money system in politics is broken and ready for disruption so I think we can spend very effectively and get a lot more for our dollars.”
More senators are associating themselves with the crypto business as crypto becomes a major subject on Capitol Hill. Candidates who are viewed as crypto-friendly have gotten a lot of support from crypto fans, who are increasingly identifying as single-issue voters. Fenton is a relative late-comer to the race, which means he faces a tougher fight in the primary election, which is slated for Sept. 13.
Who is Bitcoiner Fenton?
Fenton has over 20 years of global finance experience. He has lived and worked all around the world, completing billions of dollars in transactions and collaborating with some of the world’s most powerful investors. Fenton began his career on Wall Street after serving in the US Navy, and since 2013, he has focused solely on Bitcoin and digital assets.
Fenton was the Bitcoin Foundation’s Executive Director, the host of the well-known Satoshi Roundtable event series, a successful angel investor, a promoter of open source software, and a self-described cypherpunk. He’ll be having Zoom, Clubhouse, and Twitter spaces chats on a regular basis, as well as driving across New Hampshire in an RV. Fenton says he’ll keep working on his Bitcoin and digital asset businesses, investments, and other projects.