Trump’s Bitcoin speech compels Kamala Harris to embrace crypto or risk election loss
Donald Trump’s keynote address at the 2024 Nashville Bitcoin Conference is set to force Kamala Harris, the likely Democratic nominee for the US presidential election, to finally embrace the burgeoning crypto industry—or risk her campaign’s failure.
This bold prediction from Nigel Green, CEO of deVere Group, one of the world’s largest independent financial advisory and asset management organizations, follows the former President’s speech at the landmark industry event this weekend.
He says: “Trump’s announcement to establish a strategic Bitcoin reserve and implement crypto-friendly regulations is a masterstroke designed to secure economic growth and enhance US leadership in digital finance.
“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.
“This move is not only an economically sound move, but it also showcases a forward-thinking approach to the contemporary global financial system.”
Trump’s comprehensive crypto strategy now puts significant pressure on Kamala Harris and the Democratic Party, says the deVere Group CEO.
“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 and seek supportive leadership.
In addition, the influence of wealthy donors in the tech and crypto industries cannot be understated. These individuals and organizations have the financial power to significantly impact election campaigns.
“The Trump campaign is gaining deep-pocketed support from the crypto industry’s wealth execs,” says Nigel Green.
“With over $120 million already pledged, the campaign gains enormous resources to mount an aggressive and far-reaching campaign. This influx of funds enables further targeted advertising, extensive grassroots mobilization, and sophisticated digital outreach, all of which are crucial in a competitive election.”
Embracing crypto aligns also with forward-thinking economic trends and appeals to younger, tech-savvy voters.
“Harris will need to present a clear and supportive stance on crypto to stay relevant and competitive.
“With Trump setting a high bar with his pro-crypto policies, Harris will need to propose her own crypto-friendly agenda or risk losing ground to Trump’s bold narrative.”
He also announced the formation of a Bitcoin and crypto advisory council to develop transparent regulatory guidelines within the first 100 days of his next presidency.
Additionally, he vowed to fire SEC Chair Gary Gensler, signaling an end to what he described as the “persecution” of the crypto industry.
“This move resonates deeply with the crypto community, further solidifying support for the former President.”
Trump’s endorsement over the weekend of a national Bitcoin reserve is poised to have a significant impact on Bitcoin prices.
Nigel Green comments that, “Government endorsement and the creation of a reserve are likely to drive demand for Bitcoin, pushing prices higher, as it can be expected to reduce volatility and encourage long-term investment.”
The deVere CEO concludes: “Trump will say anything to get elected – but he’s said all the right things here.
“His keynote at the Nashville Bitcoin Conference is more than just a policy proposal; it’s a strategic move that reshapes the political and economic landscape in the race for the White House.
“With Trump’s proactive stance, any hesitation or lack of clarity from Harris would now put her on the wrong side of history and would be perceived as a significant weakness, potentially undermining her campaign.”
