With the U.S. presidential election drawing near, both contenders, Donald Trump and Kamala Harris, are strategically positioning themselves to appeal to crypto supporters.
While Trump has consistently displayed a pro-crypto stance throughout this election cycle, Harris has recently intensified her outreach to this segment of voters.
Harris’ Advocacy for Crypto
In a significant move, Harris delivered a speech at The Economic Club of Pittsburgh on September 25th, where she articulated strong backing for blockchain, artificial intelligence, and emerging technologies, emphasizing her dedication to ensuring the U.S. maintains a leading position in these crucial sectors.
During the speech, she emphasized,
“We will invest in biomanufacturing and aerospace, uphold our superiority in AI and quantum computing, blockchain, and other emerging technologies, [and] extend our advantage in clean energy innovation and manufacturing.”
Harris also stated,
“The upcoming wave of advancements — from advanced batteries to geothermal to advanced nuclear — will not just be developed but constructed here in America by American workers.”
Not Her Maiden Voyage!
That said, Harris initially broached the topic of cryptocurrency publicly on September 22nd during a fundraising event in New York, where she committed her administration to championing both AI and digital assets if elected as president.
This marked the initial noteworthy mention of crypto in her campaign, indicating a change in her strategy acknowledging the rising significance of digital currencies.
Despite her delayed acknowledgment in the election cycle, her statements indicated a clear intent to incorporate emerging technologies like blockchain into her policy platform.
Harris Garners Backing from Crypto Enthusiasts
Despite Kamala Harris entering the crypto discourse later in this election cycle, several influential figures in the industry had already voiced their support for her.
Notably, Anthony Scaramucci, the founder of SkyBridge Capital, disclosed that he, alongside a cohort of cryptocurrency proponents, has been collaborating with Harris to shape her campaign’s stance on digital assets.
He remarked,
“I am of the opinion that progress is being made, and I believe it is heading in the right direction.”
Furthermore, on September 19th, VanEck analyst Matthew Sigel proposed that Bitcoin could potentially enjoy more benefits under a Kamala Harris administration compared to a second term under Trump.
“We contend that a Kamala Harris presidency could potentially be more favorable for Bitcoin than another term for Trump, as it might hasten many of the underlying factors that drive Bitcoin adoption in the first place.”
Polymarket Projection
As anticipated, Kamala Harris currently leads the polls at 50%, with Donald Trump closely trailing at 49%, as per the latest data from Polymarket.
Trump had maintained a lead for a considerable duration, but the situation altered following their inaugural presidential debate.
Consequently, with only 39 days left until the election, the competition has become increasingly uncertain.
Thus, as the two contenders contend for the presidency, it will be intriguing to witness who ultimately clinches the position of U.S. leader in 2025.