Democratic presidential nominee Kamala Harris has voiced her support for the United States to remain a global leader in blockchain technology, artificial intelligence, and other emerging industries. In a Sept. 25 speech at the Economic Club of Pittsburgh, Harris emphasized her vision for America to maintain its competitive edge in innovation, including the digital asset space.
“We will invest in biomanufacturing and aerospace, remain dominant in AI and quantum computing, blockchain, and other emerging technologies,” Harris stated. “The next generation of breakthroughs — from advanced batteries to geothermal to advanced nuclear — are not just invented, but built here in America by American workers.”
Harris Pushes for Innovation While Ensuring Consumer Protection
Though Harris had previously remained quiet on her stance regarding cryptocurrencies, she first addressed the issue directly on Sept. 22, during a fundraising event, where she advocated for fostering digital asset technologies while ensuring consumer protection. In an 82-page economic plan released alongside her speech in Pittsburgh, Harris briefly reiterated her position, mentioning that her administration would “encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
Harris stressed the importance of the U.S. leading in technological development, warning that maintaining dominance over countries like China is crucial for securing America’s future. “We must ensure that America, not China, wins the competition for the 21st century,” she said.
Election Could Impact Crypto Market, Analysts Say
The 2024 presidential election is expected to have significant implications for the cryptocurrency industry. Analysts from VanEck suggest that a Harris victory could accelerate structural challenges that drive Bitcoin adoption, potentially making her administration “better” for Bitcoin than a second term for Donald Trump. On the other hand, Trump’s pro-crypto stance and efforts to deregulate the industry are seen as generally positive for the sector, with some analysts predicting bullish outcomes under his leadership.
In a Sept. 9 investment note, Bernstein analysts speculated that if Trump wins the election, Bitcoin could rally to as high as $90,000 by the end of the year. However, if Harris were elected, they predicted Bitcoin’s price could fall as low as $30,000.
Polls and Market Speculation
As of Sept. 25, Harris leads Trump by just 2.5 percentage points, according to national polling data from FiveThirtyEight. The tight race has generated speculation about the future of the cryptocurrency market, with potential outcomes varying significantly based on the election’s result.
Regardless of who wins, analysts believe that rising national debt and growing fiscal deficits will continue to weaken the U.S. dollar, creating a macroeconomic environment where Bitcoin and other digital assets could thrive.
