Kamala Harris Breaks Silence on Crypto, Supports Digital Assets Growth
Kamala Harris – In a recent public statement, U.S. Vice President Kamala Harris voiced strong support for the protection and promotion of cryptocurrencies, along with other emerging technologies. Harris emphasized the importance of ensuring that the United States maintains its dominance in blockchain, artificial intelligence (AI), and other cutting-edge industries. She highlighted this during her speech at The Economic Club of Pittsburgh on September 25.
Harris’ Support for Crypto and Other Technologies
“We will invest in biomanufacturing and aerospace, remain dominant in AI and quantum computing, blockchain and other emerging technologies, [and] expand our lead in clean energy innovation and manufacturing,” said Harris. Her remarks reflect the administration’s focus on ensuring America’s leadership in future technologies.
Harris has been relatively quiet on the topic of cryptocurrencies compared to her political rival, Donald Trump, who has openly supported the crypto ecosystem. However, her stance became clearer on September 22 when she mentioned encouraging “digital assets” in a speech at a fundraising event. This marked a notable shift in her public rhetoric towards new technologies.
Harris’ Economic Plan Includes Crypto
Alongside her speech in Pittsburgh, Harris also released an 82-page economic plan that briefly touched on digital assets. The document highlighted her administration’s aim to “encourage innovative technologies like AI and digital assets while protecting our consumers and investors.” Although the plan only makes a single reference to digital assets, it reinforces her broader commitment to fostering technological growth.
In her speech, Harris stressed the importance of the U.S. staying ahead of global competitors like China, saying, “We will lead the world in the industries of the future and make sure America, not China, wins the competition for the 21st century.”
Analysts Predict Mixed Impact on Crypto
The upcoming U.S. presidential election is expected to have varying effects on the cryptocurrency market, depending on the outcome. Analysts from VanEck have speculated that a Harris presidency might be more favorable for Bitcoin than another term from Trump. They believe her administration could accelerate some of the structural issues that drive Bitcoin adoption, such as rising fiscal deficits and increased national debt.
VanEck analysts also noted that a second Trump presidency would likely be “bullish” for the crypto industry, given Trump’s stance on deregulation and fostering crypto growth in the U.S. They added that regardless of the election result, a weakening U.S. dollar, coupled with growing national debt, could create a macroeconomic environment where Bitcoin thrives.
Predictions for Bitcoin Price Based on Election Outcome
Bernstein analysts weighed in on how the election could influence Bitcoin’s price. According to a September 9 investment note, a Trump victory could see Bitcoin’s price surge to as high as $90,000 by the end of the year. On the other hand, if Harris wins the presidency, they predicted Bitcoin’s price could drop as low as $30,000 due to potential changes in regulatory policies.
Harris and Trump Neck-and-Neck in Polls
As of September 25, Kamala Harris holds a slight lead over Donald Trump in national polling, with just a 2.5 percentage point advantage, according to FiveThirtyEight. Both candidates remain virtually tied, indicating a tight race ahead.
Crypto’s Role in the 2024 Election
The future of cryptocurrency in the U.S. could depend heavily on the outcome of the 2024 presidential election. Harris’ support for emerging technologies, including blockchain and AI, suggests a promising future for innovation, although the market impact remains uncertain. Meanwhile, Trump’s open support for crypto and deregulation policies could drive the industry’s growth further. Investors and crypto enthusiasts will be closely watching the political landscape in the months to come.
FAQ
What did Kamala Harris say about cryptocurrency?
Kamala Harris expressed her support for protecting cryptocurrency during a speech on September 25, 2024, stating her intention for the United States to remain dominant in emerging technologies, including blockchain and digital assets.
How does Harris plan to support digital assets?
Harris indicated that her administration would encourage innovative technologies like digital assets while ensuring consumer protections are in place, as outlined in her economic plan released alongside her speech.
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