US Senator Elizabeth Warren Explains Why She Believes In 'Anti-Crypto Army' Amid Waves Of Criticism

Warren is a vocal critic of cryptocurrencies, especially Bitcoin.

Warren associated the Silveragte Bank failure with her crypto risk remark.

Source : Getty

The Democratic senator from Massachusetts, Elizabeth Warren, has launched her political campaign ahead of the 2024 elections on the anti-cryptocurrencies plank. In a recent interview with NBC's Chuck Todd on "Meet The Press Reports", she compared purchasing Bitcoin is like "buying air." She also said it's time to move in the direction of central bank digital currency (CBDC). She has been a vocal critic of cryptocurrencies that includes Bitcoin on top of the list. According to her, the token has a lot of risks and Bitcoin mining causes a lot of adverse environmental effects.

Warren associated the Silveragte Bank failure with her crypto risk remark. While talking to Todd, she said, “With bitcoin, there’s no underlying asset that backs it up, it’s simply a matter of belief," reported Bitcoin.com.

The host asked her if she thinks Bitcoin is like a painting, and Warren said she could at least physically possess a painting.

However, she indicated having a good discussion on digital currency instead of Bitcoin. She said digital currency is different from Bitcoin because it is supported by the government.

After Warren's comments about the anti-crypto army, Twitter users flooded the social media platform with criticisms and satire of her.

A Twitter user said, "Another wave of Progressives and Democrats verbalizing opposition to Elizabeth Warren’s anti-crypto stance with some even leaving the Democratic Party over it."

Another wave of Progressives and Democrats verbalizing opposition to Elizabeth Warren’s anti-crypto stance with some even leaving the Democratic Party over it. pic.twitter.com/gPSPzfH33z

— Dennis Porter (@Dennis_Porter_) March 31, 2023

Another user wondered if she knows how many armies crypto has.

As part of her re-election campaign, Elizabeth Warren, a prominent Democratic senator, has indicated that she is creating an "anti-crypto army." 🪖

Does she know how many "armies" #crypto has? 😂 pic.twitter.com/wphWfa14RY

— Swapzone (Best rates to swap on the web 🚀) (@Swapzone_io) March 31, 2023

A different Twitter user shared a funny video ridiculing Elizabeth Warren's anti-crypto army comment. 

Elizabeth Warren's anti crypto army's leaked video exposed.#Bitcoin #BNB #ETH #cryptocurrency pic.twitter.com/sd1WQDe9SJ

— TCC🔶️🐶 (@TCryptochicks) April 2, 2023

Some have even compared the anti-crypto army with nothingness.

A first look at the Elizabeth Warren Anti - Crypto Army. Probably nothing.... pic.twitter.com/3orlc3Nu8X

— CryptoBroNYC.eth (@CryptoBroNYC) March 30, 2023

Meanwhile, Warren is also a very vocal critic of the Federal Reserve’s recent interest rate hikes. 

During the interview, she said banks are not perfect. She added that it is time for the government to move toward a central bank digital currency (CBDC). She also compared the digital world and the real estate crash in 2008. Warren believes the crypto industry will be subject to strict rules and regulations in the near future. 

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