Kamala Harris, the Democratic presidential nominee, made another public announcement concerning digital assets during a speech at the Pittsburgh Economic Club on Wednesday.
Kamala Harris has publicly expressed her support for cryptocurrency, stating that she wants the U.S. to “remain dominant” in blockchain, artificial intelligence, and other emerging technology sectors.
During a speech at The Economic Club of Pittsburgh on Sept. 25, Harris said, “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.”
She added, “The next generation of breakthroughs — from advanced batteries to geothermal to advanced nuclear — are not just invented, but built here in America by American workers.”
Harris had previously been quiet on her stance toward cryptocurrency, unlike her Republican rival Donald Trump, who has become a supporter of cryptocurrencies.
However, on Sept. 22, Harris spoke in favor of promoting new technologies, including “digital assets,” while emphasizing the need for consumer protection during a fundraising event.
Harris reiterated her position on crypto in an 82-page economic plan, which was released along with her speech in Pittsburgh.
The plan briefly mentions “digital assets,” noting her administration would “encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
She also stressed the importance of the U.S. maintaining a technological edge over rival nations, ensuring that “America, not China, wins the competition for the 21st century” in leading industries.
Analysts predict mixed outcomes for the crypto market based on the election results.
In a Sept. 19 research note, VanEck analysts speculated that a Harris presidency could be “better” for Bitcoin than another term from Trump, as it might “accelerate many of the structural issues that drive Bitcoin adoption.”
They added that Trump’s deregulatory stance is “generally bullish” for the crypto industry in the U.S.
VanEck analysts also noted that, regardless of who wins, growing fiscal deficits and national debt could lead to a weakening U.S. dollar, an environment in which Bitcoin has historically thrived.
On Sept. 9, Bernstein analysts predicted that a Trump victory could drive Bitcoin to as high as $90,000 by year-end, while a Harris win could see Bitcoin drop to around $30,000.
Harris and Trump are closely matched in national polls, with Harris holding a slim lead of 2.5 percentage points as of Sept. 25, according to FiveThirtyEight.
