U.S. Presidential Candidate Kamala Harris has once again avoided taking a stance on cryptocurrencies. In a policy statement released on Monday, Harris mentioned AI and “investing in entrepreneurs,” but explicitly left out any reference to crypto.
In the statement, Harris emphasized cutting taxes for the working class. “Building up the middle class will be a defining goal of my presidency. That’s why I will make it a top priority to bring down costs and increase economic security for all Americans,” she asserted.
This policy statement comes after a confirmation from Harris’ campaign that they are using Coinbase to accept crypto donations. However, no comments have been made directly by the sitting U.S. Vice President about accepting such donations.
Meanwhile, former U.S. President Donald Trump has actively voiced support for cryptocurrencies during his rallies. In his pre-election promises, Trump explicitly stated that he would work towards regulating crypto and aims to appoint a pro-crypto SEC (Securities and Exchange Commission) chairman.
Trump has also expressed support for Bitcoin miners, claiming he would make the U.S. a Bitcoin mining “powerhouse” and position the country as the “Bitcoin and crypto capital of the world.” Additionally, Trump launched a crypto project, World Liberty Financial, in August.
Trump’s Victory Could Push Bitcoin to $90K
With Donald Trump emphasizing his crypto policies, a report from the leading brokerage firm Bernstein suggests Bitcoin could surge to $90K if Trump wins the election. Bernstein analysts also noted that Bitcoin could drop to $40K if Kamala Harris becomes the next U.S. president.
The outcome of the November Presidential election could significantly impact the crypto industry. Currently, amidst this anticipation, the market is experiencing a bearish momentum. Bitcoin dominance has also declined over the past two weeks, though funds from Bitcoin ETFs continue to flow out, breaking new records.
If Trump wins and delivers on his pre-election promises, we may witness a resurgence in the crypto markets by the end of 2024. Meanwhile, Harris’ unclear stance on crypto could negatively affect her campaign.
