From Octagons to the Presidential Office? Bitcoin Expected to Pave the Way for McGregor's Presidential Campaign
On May 9, former UFC champion Conor McGregor announced on X his candidacy for the President of Ireland and proposed the establishment of a national Bitcoin reserve, stating that this could return control of the currency to the people, a claim that has garnered widespread public attention.
McGregor argued in a live stream for Ireland to establish a strategic Bitcoin reserve, but did not specify the source of funding or costs. He emphasized that this initiative would empower ordinary citizens economically and stated that the idea of handing power back to the people directly hits at the core of Bitcoin's decentralization.
To promote this plan, McGregor is actively reaching out to key figures in the cryptocurrency community, such as “The Pomp Podcast” host Anthony Pompliano and former Trump crypto advisor David Bailey, inviting them to participate in X Spaces meetings to refine the details of the plan.
However, it's not that easy! Ireland has to hold elections on November 11, and the Bitcoin reserve proposal must simultaneously obtain approval from the legislature, recognition from the central bank, and coordinate with the monetary policy conflicts of the Eurozone. For an independent candidate, gaining coalition support is even more challenging.
Complicating matters further, as an independent candidate, McGregor's campaign faces additional hurdles. Not only does he have the problem of forming a coalition, but ongoing scandals such as his sexual assault case appeal and hate speech investigations could also directly lead to a massive loss of support from his voters.
In fact, McGregor has already dabbled in the crypto space but with little success. In early April, a presale project for the REAL token that he participated in was originally set to raise $1 million, but ultimately only raised $392,300, and the project ended with refunds, with his celebrity effect clearly failing.
Although McGregor has promised to announce the schedule for the X Spaces meetings, the specific timing and list of participating experts have not yet been confirmed. It is worth noting that while countries like the United States and El Salvador have established government-led Bitcoin reserves, a grassroots initiative launched by a presidential candidate is a first in Ireland.
In summary, whether this fighter-turned-politician can gain voter support and take charge of financial policy remains to be seen. Furthermore, the plan is still in its early stages, and its subsequent developments warrant close attention from both the Irish political scene and the cryptocurrency community.
