Former President Donald Trump’s keynote address at the 2024 Nashville Bitcoin Conference has made waves in the political landscape, prompting Kamala Harris to reconsider her stance on cryptocurrency.

In his speech, Trump announced plans to implement crypto-friendly regulations aimed at bolstering economic growth and solidifying the US’s leadership in digital finance.

Nigel Green, CEO of deVere Group, described this move as a significant step, predicting it could impact Harris’s campaign. “By pledging to retain all Bitcoins currently held or acquired by the US government, Trump aims to create a robust national bitcoin reserve valued at approximately $14 billion,” Green stated in a report.

The announcement has increased pressure on Harris and the Democratic Party to engage with the crypto community, a substantial and growing voting bloc. “The crypto ecosystem represents a rapidly growing and influential voting bloc. Ignoring this demographic – 40% of Americans – could be politically detrimental, as millions of crypto enthusiasts and investors seek supportive leadership,” Green added.

Moreover, the influence of wealthy tech and crypto donors is a critical factor. Trump’s campaign has already garnered over $120 million from industry executives, providing resources for targeted advertising and grassroots mobilization.

Trump also proposed forming a Bitcoin and crypto advisory council to develop transparent regulatory guidelines and pledged to fire SEC Chair Gary Gensler, signaling an end to what he termed the “persecution” of the crypto industry. “Trump’s proactive stance on crypto reshapes the political and economic landscape. Any hesitation from Harris could be perceived as a significant weakness, potentially undermining her campaign,” Green noted.

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