TechFlow news — On August 2, according to Coindesk, independent financial think tank OMFIF stated that U.S. Vice President Kamala Harris cannot afford to "hand crypto over to Trump," as support and donations from crypto voters could influence key swing states.
Trump has drawn cryptocurrency supporters at the Bitcoin 2024 conference in Nashville, pledging to create a strategic bitcoin reserve if elected. Lewis McLellan, editor of OMFIF’s Digital Monetary Institute, noted that Trump, in his typical opportunistic fashion, has identified a group of disaffected voters—or potential donors. Purchasing 200,000 bitcoins annually for five years would give the U.S. a significant share of the 21 million total bitcoin supply, a single policy that might be enough to attract campaign donations from major bitcoin holders.
Harris has not yet announced an official stance on cryptocurrency, but her camp has recently engaged with crypto representatives, signaling a "new openness." OMFIF commented that Harris must develop her own digital asset agenda or risk ceding ground entirely to Republicans. While few are likely to abandon the Democratic Party solely over pro-crypto industry positions, shifting crypto supporter votes and donations away from the Republican camp could make a difference in pivotal swing states.
