Kamala Harris has made her first public statement in favor of protecting crypto, saying she wants the United States to “remain dominant” in blockchain, artificial intelligence, and other nascent technology industries.
“We will invest in biomanufacturing and aerospace, remain dominant in AI and quantum computing, blockchain and other emerging technologies, [and] expand our lead in clean energy innovation and manufacturing,” Harris said in a Sept. 25 speech at The Economic Club of Pittsburgh.
“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,” she added.
🚨 KAMALA HARRIS: "We will ... remain dominant in AI, quantum computing, blockchain, and other emerging technologies." pic.twitter.com/ayBTGQedZE
— Cointelegraph (@Cointelegraph) September 25, 2024
Unlike her Republican rival Donald Trump — who has become an advocate of cryptocurrencies — Harris remained quiet on her crypto views until Sept. 22, when she made a statement in favor of encouraging new technologies, including “digital assets,” while stressing consumer protections during a speech at a fundraising event.
Harris briefly reiterated her position on crypto in an 82-page economic plan released alongside her speech in Pittsburgh.
The plan references “digital assets” in a single sentence, saying her administration will “encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
The 82-page Harris Walz economic plan makes a single reference to digital assets. Source: KamalaHarris.com
During her speech, Harris also emphasized the importance of the US maintaining its lead over rival countries when it came to new technologies, ensuring that the US leads “the world in the industries of the future and [makes] sure America, not China, wins the competition for the 21st century.”
Analysts have predicted mixed results for crypto assets depending on the outcome of the election.
Related: Stand With Crypto drops ‘supports crypto’ tag from Harris after backlash
In a Sept. 19 research note, VanEck analysts speculated a Harris win could be “better” for Bitcoin than a second term from Trump because it could work to “accelerate many of the structural issues that drive Bitcoin adoption in the first place.”
They added another Trump presidency is “generally bullish” for the crypto ecosystem due to Trump’s stance on deregulating crypto and fostering the industry’s growth in the US.
“Regardless of the election outcome, the trend of growing fiscal deficits and rising national debt will likely continue. This suggests a weakening of the US dollar, a macroeconomic environment in which Bitcoin has historically thrived,” VanEck analysts concluded.
In a Sept. 9 investment note, Bernstein analysts predicted a Trump victory could see Bitcoin rally as high as $90,000 by the end of the year.
On the other hand, if Harris were to be elected, they said the price of Bitcoin could fall as low as $30,000.
Harris and Trump are virtually tied in national polling, with Harris leading by just 2.5 percentage points as of Sept. 25, according to FiveThirtyEight.
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