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The year 2024 was an election year for the USA, and as November approached, the race heated up. Many unexpected things happened. Biden, after his poor performance, handed over his position to Harris, making the current Vice President Kamala the Democratic candidate. Trump, despite courts and armed attacks, continues to fight strongly. Moreover, he is making extra efforts to gain the support of crypto investors.
US Elections and Crypto
As November approaches, we will experience excitement similar to Bitcoin halving because, depending on the election winner, big things will await us for cryptocurrencies, or the pressure will continue. Although Kamala has not yet taken a clear stance, her negative statements about crypto are known. Trump, on the other hand, dreams of a completely different world where the Fed holds BTC as a reserve.
While Donald Trump’s chance of being elected is given at 45%, Kamala Harris has taken the lead again. The fact that the vote distribution on crypto prediction platforms has even turned in favor of Kamala, while a deviation in favor of Trump was expected, shows that things will not be easy for the former president.
Trump and Crypto
Donald Trump chose J. D. Vance, who holds more than $100,000 in crypto on Coinbase, as his Vice President, showing his optimistic stance on crypto. Choosing one of the most positive politicians towards cryptocurrencies as Vice President indicates how much Trump values this vote bank.
Trump’s campaign team, which issued NFTs a long time ago, later started accepting donations in Bitcoin. Then, they began selling campaign products like shoes with Bitcoin and collected massive donations at a BTC event.
If elected, Trump promises to remove the current SEC Chairman, whom most crypto investors now hate. He also has promises to speed up the slow process of regulating the crypto space. At the same time, privacy and anti-oversight sentiments have led to opposition to CBDC in the country. Trump is entirely against the story of a blockchain-based central bank currency.
One of the largest donor groups is Fairshake, which has raised a total of $161 million. This means that Republicans are receiving strong financial support due to their pro-crypto stance. Of course, money is not the only way to win elections.
Trump plans to allow the Fed Chairman to remain in office for a while and continue the current policy, but it would not be surprising to see him appoint a dovish chairman for easing soon.
Kamala Harris and Crypto
50 million Americans are related to cryptocurrencies, and Harris should not position herself entirely against this. The Democratic Party’s support for the latest crypto bill with 32 representatives confirms that the party as a whole is not anti-crypto. However, Harris has not yet clarified her stance on crypto. Although it is expected that her stance will soon become clear, it is unlikely that she will be as embracing as Trump. Indeed, her decision to withdraw from attending a Bitcoin event is an indication of this.
