On Tuesday evening, presidential candidates Donald Trump and Kamala Harris will face each other in their first and possibly only televised debate. However, they are not expected to discuss cryptocurrencies.
Voters’ Priorities
According to Ron Hammond, Director of Government Relations at the Blockchain Association, cryptocurrencies are not a priority election issue for most voters, so there is little pressure on candidates to define their policy views on the matter. Former President Donald Trump’s desire to make the United States the “world capital” for bitcoin may be enough to garner support from major donors and single-issue voters.
Ron Hammond: “This is a presidential campaign. [Trump and Harris] are clearly winning or losing on other policy issues.”
According to the prediction market Polymarket, Trump has only a 14% chance of using the word “crypto” during the debate, while the likelihood of him using the word “aliens” more than five times is estimated at 19%.
Election and Crypto Prices
The debate, which will be broadcast by ABC at 9:00 PM ET, could be the last opportunity for the candidates to clarify their differences on important issues. A survey conducted by Harris Polls in June showed that voters are increasingly interested in investing in crypto assets. However, a recent poll indicates that cryptocurrencies are not a significant priority for voters, who are more concerned with issues like inflation, jobs, and the economy.
Trump has repeatedly expressed his desire to make the US a world leader in the crypto space. This has led to significant donations to the Trump campaign from major donors. In the second quarter, more than $3 million was raised from the crypto sector.
Rebecca Liao: “While crypto is an important issue in this election, it is not on the same level as issues like immigration or inflation.”
Kamala Harris has not made many statements about cryptocurrencies and has not mentioned the issue at the Democratic National Convention or in her list of policy positions. However, Harris does have supporters from the crypto industry, including Mark Cuban and Anthony Scaramucci.
Research firm AB Bernstein on Wall Street predicts that if Trump is elected president, the price of bitcoin could be between $80,000 and $90,000 by the end of the year, while if Harris wins, it could fall to between $30,000 and $40,000. This prediction is attributed to regulatory actions.
Under a Harris administration, crypto regulations are expected to tighten, while under a Trump administration, such tensions are expected to ease. However, cryptocurrencies are unlikely to play a decisive role in this election.
