Recent developments suggest a potential political realignment on cryptocurrencies, with Vice President Kamala Harris and former President Donald Trump at the center of speculation.
David Bailey, CEO of Bitcoin Magazine Public on social media platform X Vice President Kamala Harris’ campaign is reportedly discussing the possibility of her speaking at an upcoming Bitcoin conference, which Bailey suggested could result in a significant shift in the Democratic Party’s stance on cryptocurrencies, potentially appealing to a rapidly growing demographic of voters.
We are campaigning for Kamala Harris to speak at the conference. It would be very wise for her to reset the Democratic Party’s stance on the fastest-growing voter bloc in the country. They are making up their minds today.
The vice president’s team was expected to make a quick decision on the matter. The potential move is consistent with observations made by billionaire Mark Cuban. He told Politico Harris is likely to be more receptive to business, artificial intelligence, and cryptocurrencies than President Biden.
Politico also reported that Harris’s team reached out to cryptocurrency executives to get their policy opinions ahead of the Democratic National Convention, an approach that some tech industry leaders have speculated could lead Harris to take a pro-innovation stance that could garner significant support in Silicon Valley.
Box CEO Aaron Levie suggested that a credible pro-tech policy framework could quickly win Harris the support of many tech industry leaders. Such an approach could potentially differentiate Harris from the current administration’s more cautious stance on cryptocurrencies and blockchain technology.
Kamala is literally from this area. Her supporters were in the tech industry. […] To me, it’s almost like a math problem. Which other candidate would get more support on the national stage? And I don’t think there’s a better answer to that.
Could Trump and Bitcoin Be Used as Strategic Reserves?
On the Republican side, former President Donald Trump’s odds of winning the 2024 presidential election have been reported to have increased via Polymarket, as the assassination attempt was reported to have failed and the cryptocurrency rally that followed. Deployed at 63%. At the same time, there are rumors going around that Trump might make an announcement about Bitcoin.
Dennis Porter, co-founder of the non-profit Satoshi Act, said: According to inside sources, Trump is likely to declare Bitcoin a strategic asset at the upcoming Bitcoin 2024 conference in Nashville. Porter argues for the merits of such a move, describing Bitcoin as “digital gold that is borderless, censorship-resistant, decentralized, counterparty-less, completely finite, and has an immutable ledger.”
The U.S. government currently holds about $5.5 billion worth of bitcoin, seized through law enforcement activities. Porter suggests turning it into a strategic reserve backed by the dollar.
