Conor McGregor, the former UFC champion, is running for President of Ireland as an independent candidate. His campaign platform? A surprisingly bold crypto initiative.
McGregor’s Bitcoin Proposal: Power to the People?
McGregor’s big idea? Ireland should create a national Bitcoin reserve. He believes this would put “power back into the people’s money,” echoing Bitcoin’s decentralized origins. He hasn’t detailed how this would be funded or how much it would cost, only emphasizing its potential to empower citizens. He even hosted a Twitter Space to discuss his vision.
Reaching Out to Crypto Influencers
McGregor’s not going it alone. He’s reached out to prominent figures in the crypto world, including Anthony Pompliano and David Bailey, seeking their input and collaboration on his plan. He invited them to join a Twitter Space discussion to flesh out the details.
Facing an Uphill Battle
McGregor’s presidential bid faces significant hurdles. Ireland’s next election is in November 2025, and implementing a Bitcoin reserve would require buy-in from lawmakers and the central bank – a tough task, especially given Ireland’s membership in the European Union and its reliance on the euro. His past legal troubles, including a sexual assault conviction and hate speech investigations, could also damage his credibility with voters. Many Irish politicians have already openly rejected his bid.
A Rocky Crypto Past
McGregor’s not a crypto newbie, but his track record isn’t perfect. A previous involvement with a token presale, REAL, failed to reach its funding goal, highlighting the challenges of securing widespread support, even with a celebrity endorsement.
The Future of McGregor’s Plan
McGregor’s Bitcoin plan is still in its early stages. While countries like the US, El Salvador, and Bhutan have established Bitcoin reserves, those were government-led initiatives. McGregor’s grassroots approach is unprecedented in Ireland. Whether voters will embrace a fighter-turned-politician handling complex financial policy remains to be seen. For now, it’s a high-stakes gamble.