Donald Trump’s Crypto Advantage Over Kamala Harris

As the 2024 election approaches, cryptocurrency could play a more significant role than ever before. Former President Donald Trump has taken the lead in this area, positioning himself as a strong advocate for the digital asset industry.

While crypto may not be the top priority for most voters, it’s gaining traction—especially in swing states where a quarter of voters say they will consider candidates’ positions on it.

Wow!

Biggest gap between Trump and Kamala. With Kamala leading by 9 points now.

Trump team needs to change their poor marketing strategy. With Dems now supporting crypto, that lead might get bigger. Lot of women voting for Kamala too, obviously. pic.twitter.com/FMV8iyxth5

— NYSoul (@NYSoul2x) August 15, 2024

With industry surveys showing that a fifth of Americans own Bitcoin or another cryptocurrency, Trump’s embrace of digital assets could be a game-changer.

Key Points:

• Trump’s Crypto Shift: Trump has evolved from calling Bitcoin a “scam” to becoming a strong advocate for the industry.
• GOP’s Crypto Platform: Republicans pledge to end the Democrats’ “Crypto crackdown” and oppose a Central Bank Digital Currency.
• Financial Backing: Trump’s campaign has raised over $25 million from the crypto community by July 2024.
• Harris’s Silence: Harris and the Democrats have not yet articulated a clear stance on cryptocurrency.
• Impact on Voters: A quarter of voters in swing states consider candidates’ positions on crypto when making their decisions.

The Stakes for the Crypto Industry

Regulation is at the forefront of the crypto debate. Many in the industry have criticized Securities and Exchange Commission (SEC) Chair Gary Gensler for what they see as a lack of transparency and a hostile stance toward digital currencies.

Trump’s Republican party has seized this opportunity, becoming the first major U.S. party to formally include a crypto policy in its platform.

Rumors are you're planning to join Harris team.
Please say it's not true, nothing of which you speak and have shown us for the past year resonates, or is permitted, within the Democrat/Soros Party these past 15 years.

THIS REPUBLICAN Party with Trump is more aligned with what…

— CoyoteWind (@DanceSnowHorse) August 15, 2024

The platform promises to end what it calls the Democrats’ “unlawful and unAmerican Crypto crackdown” and opposes the creation of a Central Bank Digital Currency.

It also vows to protect the right to mine Bitcoin and to allow Americans to self-custody their digital assets free from government surveillance.

Trump’s Transformation on Crypto

In 2021, Trump described Bitcoin as a “scam.” However, his recent actions suggest a significant shift in his stance.

At a campaign rally in Racine, Wisconsin, in June 2024, Trump declared that crypto’s future “will be made in America.”

Dems win by default because election are propaganda driven by big data and AI and the Dems have had an advantage since 2008. Trump has an upper cap on support. RFK pulls voters on vaccines and crypto that would otherwise go to Trump. It's over.

— Aaron Day 2024: Truth and Transformation (@AaronRDay) August 8, 2024

The following month, he addressed the annual Bitcoin conference in Nashville, Tennessee, where he highlighted the substantial financial support his campaign has received from the crypto community.

By the end of July, more than $25 million had been donated to Trump’s campaign by the crypto industry.

This financial backing was further solidified by the $25 million raised during the Nashville event alone.

According to sources familiar with Trump’s fundraising operations, an additional $7.9 million in crypto donations had been secured since May 2024.

Harris’s Silence on Crypto

In stark contrast, Vice President Kamala Harris and the Democratic party have yet to clearly articulate their position on cryptocurrency.

Despite an invitation to speak at the Bitcoin conference in Nashville, Harris declined, leaving a void that Trump has capitalized on.

The absence of a defined stance could hurt the Harris campaign, especially as Trump continues to attract substantial support from the crypto industry.

Trump’s Growing Support

Trump’s senior campaign advisor, Brian Hughes, emphasized the contrast between Trump and Harris on crypto:

The increased scrutiny on Harris' plans for bitcoin and crypto comes as Harris holds onto her poll lead over former president Donald Trump, according to bets on the crypto-based Polymarket prediction platform.#news

— Peer Community Hub, Your News Network Zone! 🇨🇦✌️ (@p_communityhub) August 15, 2024

“Crypto innovators and others in the technology sector are under attack from Kamala Harris and the Democrats.

While the Biden-Harris Administration stifles innovation with more regulation and higher taxes, President Trump is ready to encourage American leadership in this and other emerging technologies.” Harris’s campaign has so far declined to comment on her stance toward crypto.

Conclusion

With the 2024 election potentially shaping up to be a pivotal moment for cryptocurrency, Trump’s proactive stance on digital assets could give him a decisive advantage.

As the crypto community rallies behind him, the lack of a clear position from Harris could be a missed opportunity for the Democrats.