The 2024 US presidential election has taken an unexpected turn, especially when it comes to cryptocurrencies. Donald Trump and Kamala Harris have completely different views on the subject, and it is getting a lot of attention. Trump, who was not a fan of cryptocurrencies before, is now interested in it. Harris, on the other hand, seems more cautious and focused on regulation rather than full-blown crypto support.
Trump's Surprising Shift Towards Cryptocurrency
Trump's shift in stance toward cryptocurrencies has been surprising. He was once a fierce critic, but this year he made a significant shift, accepting crypto donations for his campaign and even launching a decentralized finance platform called "World Liberty Financial" (WLF). He also took aim at SEC Chairman Gary Gensler, promising to fire him if elected.
To demonstrate his commitment to the cryptocurrency community, Trump made headlines with his appearance at the Bitcoin Conference, where he traded Bitcoin at a New York bar. Despite these efforts, WLF has raised only $12.9 million to date, far short of its $300 million goal. There are also concerns about the structure of the foundation, as 75% of the proceeds will go to the Trump family, raising questions about potential conflicts of interest.
Polls show Trump is leading!
According to prediction market platform Polymarket, Trump has a 59.8% chance of winning the election, while Harris trails behind at 40%. Analysts believe his growing support for cryptocurrencies is a major factor in his lead, especially as Bitcoin nears $70,000.
Harris' Cautious View on Cryptocurrencies - Is It Enough?
Kamala Harris, on the other hand, is taking a more cautious approach. She has not made cryptocurrency a major part of her campaign, but has focused on protecting investors, especially Black Americans who hold digital assets. Her âopportunity agendaâ emphasizes regulating cryptocurrencies to minimize risks such as fraud.
Harrisâs efforts to connect with the crypto community have been less successful, however. A recent virtual town hall failed to gain traction, and some high-profile figures like Tyler Winklevoss have yet to be convinced. Still, she has received support from notable names in the crypto world, including Ripple co-founder Chris Larsen, who donated $1 million in XRP to her campaign, suggesting that some in the industry appreciate her cautious stance.
How Cryptocurrency Is Shaping Politics
As the election approaches, voters are paying attention to these two very different strategies on crypto. Trump is making big promises, while Harris is offering more protection. With Bitcoin approaching $70,000, itâs clear that crypto is playing a huge role in this election. Trump may be leading in the polls right now, but things could change before Election Day.
