The state of Texas is in the middle of a fierce gubernatorial election. Republican State Attorney General Greg Abbott will face off against Democratic State Senator Wendy Davis on Nov. 4. It’ll likely be a contentious battle, especially considering that Davis has made national headlines over her stance on abortion.
What about the third-largest political party in the Lone Star State?
In preparations for the election, the Libertarian Party of Texas announced in a press release Friday that it will start accepting donations in bitcoins. The announcement comes as the political party holds its 2014 Libertarian State Convention at the Frank W. Mayborn Civic and Convention Center from Apr. 11 to 13.
“Accepting Bitcoin offers our members and donors another option when it comes to financial contributions to the Libertarian Party of Texas,” said Patrick Dixon, Chair of the Libertarian Party of Texas, in the media release. “I am very proud that our party is the first in Texas to accept Bitcoin.”
One Libertarian Party official says many Americans are losing faith in the value of the United States dollar and that bitcoins and other digital currencies similar to it are great alternatives to Federal Reserve Notes.
“As Texans lose faith in the American dollar’s value and reliability, they are looking for alternatives that will maintain the value of their hard-earned money,” said Heather Fazio, a Libertarian Member Manager, in a statement. “Bitcoin, and other decentralized digital currencies, offer new opportunities for people to break free from the banking industry’s stronghold and, often punitive, monetary policies and options.”
The convention will also consist of a discussion about bitcoin. On Sunday, attendees will have the opportunity to listen to speakers Michael Cargill, John Bush, Mick Truitt, Dr. Lucas Rentschler, and Ben Swann, who will talk about “Bitcoin, Banks and Bailouts: How do Bitcoin, the Federal Reserve System, and crony capitalism affect the economy?”
Candidates for the Texas Libertarian Party nomination include Robert Bell, a pharmaceutical executive and chemist; Robert Garrett, a veteran, prison officer and helicopter mechanic; Kathie Glass, an attorney and former 2010 nominee for governor; and Robert Locke, a veteran, building contractor and rancher.
We have reported of several American politicians who have decided to incorporate bitcoin into their campaign fundraising platforms. Some of these political hopefuls are Darryl W. Perry, a 2016 presidential candidate; Eric Brakey, a Republican State Senate candidate; Blaine Richardson, an independent conservative congressional candidate; and Texas Republican Congressman Steve Stockman.
Stockman made headlines this week – and gained particular favor from the bitcoin community – after he established legislation that would classify bitcoin as a currency and not taxable as property. The bill, which is expected to be submitted to Congress next month, is entitled “The Virtual Currency Act” and would modify the way the Internal Revenue Service and law enforcement entities look at the digital currency.
He attended the Inside Bitcoins conference in New York City on Tuesday and delivered a speech to the dedicated crowd of bitcoiners. He also introduced his legislation to the crowd. Stockman essentially called for more debate on the matter to determine what bitcoin actually is because “it’s not sugar, it’s not gold.”
