- Written by: BlockBeats Workers, BlockBeats
Bitcoin doesn’t need politicians, but politicians need Bitcoin.
With US President Joe Biden announcing that he will not run for re-election, Vice President Kamala Harris (Chinese name He Jinli) has become the most powerful contender for the Democratic nomination. While we previously knew that Harris was unfamiliar with cryptocurrencies, recent moves indicate that she appears to be learning the field quickly.
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ToggleEncryption has become a “required course” for politicians
Prior to today, Harris’ only crypto-related deed was hiring the former chief technology officer of the world’s first sports team to accept Bitcoin as her director of scheduling and advancement. Financial revelations also show that Harris and her husband have never been involved in the cryptocurrency field, preferring to invest in Treasury bonds and emerging markets.
However, in less than 48 hours after announcing her candidacy for president, Harris was already “catching up” on encryption.
According to Decrypt, Harris’ advisory team has begun consulting with Bitcoin enthusiast and billionaire Mark Cuban on cryptocurrency policy.
Cuban said the Harris team asked him multiple questions about cryptocurrencies, a sign of their strong interest in the space.
Cuban also mentioned that although Harris has not publicly expressed her views on cryptocurrency, as a former San Francisco politician, she is considered closer to the interests of Silicon Valley and the technology industry than Biden.
In fact, before the Harris team consulted Cuban, the cryptocurrency lobby group "Chamber of Digital Commerce" wrote a letter urging Harris to embrace cryptocurrency and recommending that she choose a running mate who strongly supports cryptocurrency.
"The public perception of Democrats as having a negative view of digital assets is largely due to the Biden/Harris administration's cautious and even hostile attitude toward these transformative technologies," the lobbying group said. "Your presidential campaign provides an opportunity to change this perception." ” That seemed to work for Team Harris.
As the cryptocurrency lobby heats up, it might make sense for Harris to publicly support Bitcoin. After all, the crypto industry has invested millions of dollars to influence politics in Washington, and Congress has passed a series of pro-cryptocurrency policies.
The Bitcoin Conference may be the first battleground between Trump and Harris
We all know that Donald Trump will be speaking at the upcoming Bitcoin conference in order to continue his pro-crypto stance.
Currently, there is news that Harris will also speak at the Bitcoin conference. As of now, BlockBeats has not confirmed whether Kamala Harris will speak at the conference, but it's not out of the question.
After all, Bitcoin Magazine and Bitcoin Conference CEO David Bailey did say on his social platform that he was in discussions with the Harris campaign to let her speak at the conference. "It would be very smart if she could reposition the Democratic Party among the fastest-growing group of voters in the country. They are making up their mind today."
This also means that the Bitcoin Conference may become the battlefield for Harris’s first face-to-face confrontation with Trump after confirming her candidacy for president. Bitcoin will be the main focus of these two fierce competitors.
Harris also eyeing encrypted ballots
Today, cryptocurrency is no longer a niche topic, and its influence on American politics is growing. Independent presidential candidate Robert Kennedy Jr. and Republican candidate Donald Trump have both publicly endorsed Bitcoin, forcing Democrats to take action.
Democrats face two choices: continue to oppose Bitcoin, or change course and support Bitcoin as a symbol of freedom.
On the Democratic side, with Biden's withdrawal, Harris' probability of nomination on the cryptocurrency prediction market Polymarket once soared to 82%. But it does not rule out that other potential candidates will become dark horses.
More importantly, as the most influential politician in the Democratic Party and a former president of the United States, Barack Obama has not publicly expressed support for Harris to succeed Biden. In addition to Obama, former Speaker of the U.S. House of Representatives Nancy Pelosi did not immediately express support for Harris. Last week, US media reported that both men favored selecting a candidate to succeed Biden through an "open" process.
From Harris's perspective, externally there is strong opposition from the pro-encryption Republican candidate Trump; internally, the Democratic Party also has ample time to elect another presidential candidate.
Harris, who loves to smile in front of the public and the camera, is actually facing multiple internal and external pressures. She and her team must make quick choices. It would be a smart strategy if Harris can reposition Democrats in crypto, the fastest-growing group of voters in the country.
Of course, she may also be able to pursue the same policies as Biden and take a cold shoulder on cryptocurrencies.
