Dennis Porter is a prominent Bitcoin advocate — and for several days, was warning his 230,000 followers on X that a huge announcement was on the horizon.
“MASSIVE POLITICAL NEWS COMING FOR BITCOIN TUESDAY THAT WILL RESHAPE THE TRAJECTORY OF BITCOIN POLITICS. THIS WILL BE A DEFINING MOMENT.”
His cryptic message was reposted hundreds of times, liked thousands of times, and seen by millions. There was feverish expectation that there could be a breakthrough on the U.S. strategic Bitcoin reserve, or a bullish catalyst that would drive BTC up.
Porter certainly believed it was urgent — and was counting down the days until the news became public: 48 hours to go, 24 hours, 10. He teased how “influential people in Washington DC” had been blown away by what was about to happen — and “one of the largest broadcasting stations in the country just tried to scoop the announcement.”
Finally, the moment had arrived. A Spaces chat on X was set up to share the “seismic” development, with 174,000 people tuning in. The big news? A pro-Bitcoin Democrat will run to be the next Governor of California.
Ian Calderon is 39 years old, with U.S. media describing him as part of a “prolific family in modern California politics.” In a video confirming his candidacy, he vowed that the cost of living would be a key focus of his campaign — with rent, food and gas now becoming unaffordable for many. He declared:
“My generation pays bills on our phones, we send money to each other with Venmo and we save in Bitcoin — but the people running our government, they’re trying to use yesterday’s ideas to solve today’s problems, and it isn’t working.”
Calderon has argued that the state should hold BTC on its balance sheet, and pledged that he would make this happen if elected. Current Governor Gavin Newsom is term-limited, meaning he cannot run again.
As you would expect, Porter was exceedingly breathless when the news was confirmed.
But the reaction from his followers was lukewarm at best. Peter McCormack summed it up pretty well, replying: “F*** me, is that it?”
Others were equally uncomplimentary.
Indeed, Bitcoin barely flinched in reaction to the “seismic” news that Calderon was in the running — remaining a tight range between $112,000 and $113,000.
Several disgruntled followers have vowed to block Porter on X, arguing he’s nothing more than a purveyor of clickbait. Others pointed to many other times when one of his “huge” announcements ended up being pretty overexaggerated.
Polling from Emerson College suggests Calderon has an uphill battle ahead of him as he attempts to win the Democratic primary. With former vice president Kamala Harris announcing she won’t be running, it’s Katie Porter (no relation) who currently has the most support at 18%. Republican Steve Hilton, a former Fox News host, has 12%. One bright spot can be found in how 38% say they’re currently undecided.
Cryptonews reached out to Porter — to ask whether he had a response to the hundreds of followers who have described the news as a “nothingburger.” He didn’t reply to our request to comment, but has mounted an impassioned defense nonetheless — claiming skeptics are “absolutely clueless about how to shape the course of political dialogue.”
“I’m sorry that they don’t understand what’s at stake and how to avoid the pain. I’m happy to put my name on the line to redirect the course of Bitcoin’s political dialogue. Have a little faith. I’ve done it multiple times already and I will do it again. The haters will seeth.”
Porter is right about one thing: it’s notable that a Democratic politician in a major race is going to bat for Bitcoin. Up until now, many of those embracing crypto have been Republicans — and for this industry to succeed in the long run, with literate legislation, bipartisan support is crucial.
But the backlash he’s currently experiencing on X shows that many Bitcoiners are fed up with hype and exaggeration. Many are now warning that his style of posting could end up undermining his credibility, and even be detrimental to BTC’s continued growth.
MASSIVE BREAKING: ENOUGH WITH THE ALL CAPS POSTS.
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