“Kamala Harris Shouldn’t Leave Crypto to Trump”

Presumptive Democratic presidential candidate US Vice President Kamala Harris cannot afford to abandon crypto to Republican candidate Donald Trump because support from crypto voters could “make a significant difference in key states”, according to the Official Monetary and Financial Institutions Forum (OMFIF), an independent think tank.

Last week, Trump spoke at the Bitcoin Nashville conference, appealing to crypto supporters and promising to create a strategic bitcoin reserve if elected. He added that Democrats holding the White House would be a disaster for crypto.

“Trump has opportunistically targeted a segment of voters and, perhaps more importantly, potential donors,” wrote Lewis McLellan, editor of OMFIF’s Digital Currency Institute.

“Acquiring 200,000 bitcoins per year for five years would provide the US with a significant share of 21 million bitcoins. This reduction in free and volatile supply is likely to increase the asset price.”

Ahead of this month’s Democratic National Convention, Harris has not stated her position on crypto, but has “been in touch with crypto representatives in recent weeks,” according to a Politico report.

“There is little to lose and potentially much to gain,” the commentary read, “and Kamala Harris must set her own agenda on crypto assets, or she risks ceding the field entirely to Republicans.”