US Presidential Race 2024: Harris Pledges Support for the Crypto Industry

For the first time, the Democratic presidential contender from the US has stated her stance on digital asset legislation. We will learn about Kamala Harris's involvement with cryptocurrency in this article.

Harris's Position on Digital Assets

If Kamala Harris, the Democratic candidate for US president in November, wins, she has promised to help the cryptocurrency sector. In the case that she is elected, the vice president in office declared she will back cutting-edge technology, particularly digital assets.

On September 22, in front of Democratic Party donors in New York, Harris revealed her economic platform. She said that labor, big business, entrepreneurs, and innovators would all band together to collaborate and invest in the future of the United States. She talked about how she would promote cutting-edge technologies like digital assets and artificial intelligence while protecting investors and consumers. This is the first time Harris, a potential presidential candidate, has discussed her views on the cryptocurrency market. Candidates have begun paying close attention to the cryptocurrency market ahead of the 2024 presidential election.

Donald Trump, the Republican candidate, frequently discusses and openly promotes cryptocurrency. Prior to his meeting with voters in September, Trump claimed it was a "historic moment" when he paid for hamburgers at a New York City bar using Bitcoins.

Market Reactions to Harris’s Statements

The announcement of Harris' position on cryptocurrency came during a $27 million campaign fundraising event. A representative for Harris claims that since she entered the presidential race, this was the largest amount she has ever raised in a single meeting with contributors.

Part of the wagers on Polymarket represents players in the cryptocurrency market's predictions on the results of the presidential election. On September 22nd, 47% of people were betting on Trump and 52% were betting on Harris. Following the announcement of her position on cryptocurrency, the Democratic candidate's percentage increased. Harris had a 49% stake one day earlier.

On Polymarket, wagers on the outcome of the November 2024 US elections have nearly hit $1 billion in total. As of September 23, information indicates that $983.2 million is in jeopardy.

The day following Harris' pro-cryptocurrency remarks, the price of Bitcoin reached a record high for this autumn. The value of the first cryptocurrency reached $69,000.

Conclusion

In the 2024 US presidential contest, Kamala Harris's endorsement of the cryptocurrency sector has been a pivotal event that has elevated digital assets to a political prominence. Her promise to support innovation and protect investors places her in line with a quickly expanding industry, and responses from the market indicate that her position is well-received. Given that both Donald Trump and Harris support cryptocurrencies, it is obvious how influential the sector will be in the next election and how it will continue to shape the direction of the US economy.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.