With Joe Biden out of the Presidential race, all bets are off. Kamala Harris takes up the presidential election bid and is endorsed by Joe Biden.
Kamala Harris, the United States vice president, is an anomaly among Capitol Hill politicians in that she has never expressed a firm opinion on digital currencies, tokenization, blockchain, or NFTs.
None of this has been relevant for the past four years, as US President Joseph Biden has expressed his views on cryptocurrency during his tenure in the White House.
Kamala Harris, the candidate?
However, this has all altered since Biden declared his intention to withdraw from the upcoming presidential election. Although there is no assurance that his vice president will receive the Democratic nomination, he has already endorsed Harris.
If Harris were to secure the nomination, she would still be confronted by former US president Donald Trump, who has been stridently opposed to cryptocurrency in the past and has recently advocated for it.
Trump is scheduled to deliver a speech at the Bitcoin Conference on July 27, which may provide additional insight into his intentions regarding the sector in the weeks ahead. However, inferring that he favors Bitcoin in the interim is safe.
Therefore, the question becomes: What will be the outcome of Harris’ victory for crypto?
Can it Become President Harris?
Even though we are unaware of her official stance, we can still extract some information regarding its potential appearance.
To begin with, ample evidence suggests that she could maintain the already established trajectory. Since her political wagon has been attached to Biden, her donors and supporters are predominantly from his faction. It may be considerably simpler for “President Harris” to implement modifications to the status quo than for “candidate Harris.”
It is also important to mention that Harris and her husband are both significantly invested; however, according to her White House financial disclosure for 2023, neither of them possesses any digital assets.
This is noteworthy because, according to the disclosure, they exhibit no curiosity regarding digital assets despite their affiliation with Silicon Valley. Harris, a California native, has been regarded as one of the more tech-friendly Democrats to emerge in recent years despite her somewhat cautious stance on AI.
Her rejection of cryptocurrency was a direct rejection of the technology itself. If that is the case, it is reasonable to anticipate that she will mobilize anti-crypto support as her campaign commences.
Lastly, it is essential to consider the razor-thin margins of support between Trump and Biden before the latter’s withdrawal from the 2024 campaign. Harris must expedite her campaign and secure a few percentage points to substantiate her candidacy. In that case, the genuine inquiry is whether her endorsement of cryptocurrency would benefit her campaign against Trump.