Trump’s Bitcoin 2024 speech ‘pressured’ Harris to embrace crypto

Former President Donald Trump’s keynote speech at the 2024 Nashville Bitcoin Conference sent shockwaves through the political arena, forcing Kamala Harris to reconsider her stance on cryptocurrencies.

In his speech, Trump announced the implementation of crypto-friendly regulations aimed at supporting economic growth and consolidating the US leadership in digital finance.

deVere Group CEO Nigel Green called the move a “masterstroke” and predicted it could significantly impact Harris’ campaign.

“Trump aims to create a robust national Bitcoin reserve worth around $14 billion by pledging to hold all Bitcoin that the US government currently holds or acquires,” Green said in a report obtained by crypto.news.

This announcement increased pressure on Harris and the Democratic Party to engage with the crypto community, which represents a significant and growing voting bloc.

“The crypto ecosystem represents a rapidly growing and influential voting bloc. Ignoring this demographic — 40% of Americans — could be politically damaging as millions of crypto enthusiasts and investors seek supportive leadership,” Green said.

Cryptocurrency

Additionally, the influence of wealthy tech and crypto donors is a critical factor. Trump’s campaign has already raised over $120 million from industry executives, providing resources for targeted advertising and grassroots mobilization.

Trump also proposed the creation of a Bitcoin (BTC) and crypto advisory board to develop transparent regulatory guidelines and promised to fire SEC Chairman Gary Gensler, signaling an end to the “persecution” of the crypto industry.

“Trump’s proactive stance on crypto is reshaping the political and economic landscape. Any hesitation by Harris could be perceived as a significant weakness and potentially undermine her campaign,” Green added.