Vice President Kamala Harris’s presidential campaign has gained unexpected momentum, fueled by her team’s reported outreach to major players in the cryptocurrency industry. This strategic move has sparked a notable shift in her election odds, which saw a 5% increase earlier today, although the percentage has since fluctuated.
Kamala Harris’s Crypto Outreach and Election Odds
Kamala Harris’s presidential campaign has gained momentum following reports that her team is reaching out to major crypto companies. This outreach, aimed at improving relations between the Democratic Party and the crypto industry, has led to an initial boost in her election odds. On July 21st, President Joe Biden withdrew from the 2024 presidential race, endorsing Vice President Kamala Harris as the Democratic candidate. This unexpected shift has reshaped the upcoming election landscape.
Recent polls suggest Harris is narrowing the gap with Republican frontrunner Donald Trump, though she still trails. As of July 27th, Polymarket data shows Harris at 40% and Trump at 59% among likely voters. Harris has seen a 2% increase in her election odds, while Trump’s have dipped by 1%.
Sources close to the matter reveal that Harris’s campaign team is seeking meetings with crypto companies such as Ripple, Coinbase, and Circle in the coming days. This move comes after the crypto community showed strong support for Trump and criticized the Biden Administration’s crypto policies. The Harris campaign maintains that these meetings are not primarily aimed at attracting new donations. Instead, they are positioned as an effort to demonstrate that the Democrats are “pro-business, responsible business,” according to a source close to the campaign.
Crypto Community Reactions and Rival Strategies
This development coincides with the start of the 2024 Bitcoin Conference. Harris’s decision not to speak at the 2024 Bitcoin Conference, despite earlier rumors, has drawn criticism from the crypto community. Her absence was seen as an “epic mistake” and reignited disappointment among crypto enthusiasts.
In contrast, rival candidate RFK Jr. made a bold pledge at the Bitcoin Conference, promising to sign an executive order for the US to buy 550 Bitcoin daily until building a reserve of 4 million BTC if elected president. These contrasting approaches highlight the complex relationship between political candidates and the cryptocurrency sector in the lead-up to the 2024 election.
Harris’s campaign’s move to engage with the cryptocurrency industry reflects a broader strategy to appeal to a segment of the electorate that feels neglected by current policies. The decision to connect with companies like Ripple and Coinbase is not just about securing financial backing but also about signaling a shift towards a more business-friendly stance within the Democratic Party.
The cryptocurrency community has long been vocal about its dissatisfaction with regulatory uncertainties and perceived hostility from the current administration. By engaging with key industry players, Harris aims to position herself as a candidate open to innovation and economic growth driven by emerging technologies.
However, her absence from the Bitcoin Conference may cost her valuable support within this community. RFK Jr.’s aggressive pro-Bitcoin stance starkly contrasts with Harris’s more cautious approach. This divergence in strategies could prove pivotal as the campaign progresses, potentially swaying voters who prioritize cryptocurrency issues.
In summary, Kamala Harris’s recent efforts to engage with the cryptocurrency industry have provided a boost to her presidential campaign, reflected in her rising election odds. While her absence from the Bitcoin Conference has drawn criticism, her outreach to major crypto companies signifies a strategic shift aimed at garnering broader support. As the 2024 election approaches, the differing approaches of Harris and her rivals towards the crypto community will likely play a significant role in shaping the political landscape.