Originally published on: September 25, 2024
In a recent address, Kamala Harris voiced her support for safeguarding cryptocurrencies, expressing her vision to uphold the United States’ preeminence in blockchain, Artificial Intelligence (AI), and other emerging technology sectors.
**A Bold Vision for the Future**
During a speech at The Economic Club of Pittsburgh on September 25, Harris articulated her commitment to boosting investments in biomanufacturing and aerospace while asserting the need for the US to retain its leadership in AI, quantum computing, blockchain, and other innovative fields. She underlined the importance of American workers contributing to advancements in clean energy technologies like advanced batteries, geothermal energy, and advanced nuclear power.
**An Enlightened Approach to Digital Assets**
Unlike her political counterpart, Donald Trump, who has emerged as a proponent of cryptocurrencies, Harris initially remained silent on her stance regarding digital assets. However, on September 22, she publicly expressed her support for fostering new technologies, including digital assets, with a focus on ensuring consumer protection. Her comprehensive 82-page economic plan, released alongside her speech, emphasized the promotion of innovative technologies like AI and digital assets while prioritizing consumer and investor safeguarding.
**Paving the Way for Technological Superiority**
Harris highlighted the need for the US to maintain its edge over competing nations in pioneering new technologies, aiming to position America as the forefront leader in future industries to outpace rivals like China. Analysts have speculated on the potential impact of the upcoming election on the cryptocurrency market, with conflicting forecasts based on the electoral outcome.
**Implications for the Crypto Market**
While some analysts anticipate a positive trend for Bitcoin in the event of a Harris presidency, citing potential acceleration of structural factors driving Bitcoin adoption, others posit that a second term for Trump could foster a buoyant crypto ecosystem through deregulation and industry growth. Economic predictions suggest a weak US dollar environment, historically favorable for Bitcoin’s performance.
**Forecasting Bitcoin’s Trajectory**
Bernstein analysts have projected a potential Bitcoin rally to $90,000 by the year-end in case of a Trump victory, contrasting a forecasted dip to $30,000 if Harris assumes office. National polling indicates a tight race between Harris and Trump, with just a narrow margin separating the two candidates as of recent data.
**The Urban Legend: Bitcoiners and the Political Game**
As the political landscape unfolds, Bitcoin enthusiasts remain divided in their allegiance, with an ‘all in’ approach towards Trump post-Bitcoin ’24, despite the escalating risks associated with this unwavering loyalty.
By pledging her commitment to promoting blockchain technology and embracing innovation, Kamala Harris sets the stage for a transformative era in the tech industry and signals her intent to champion America’s dominance in the global technological landscape.
