Last week, a historic event took place in the crypto industry, and it involved Donald Trump. We are talking about the first Bitcoin transaction conducted by the US President.

In particular, the politician visited the PubKey Bitcoin pub in New York, where he used BTC to pay the bill. We wrote more about it in a separate article.

Former US President Donald Trump buys burgers for crypto

What does Kamala Harris’ victory mean for the cryptocurrency industry?

The report’s authors believe that a Harris presidency will allow the continuation of current economic policies that will weaken the US dollar and push Bitcoin adoption. At the same time, major world economies may switch to BTC after noticing the “shortcomings of traditional currencies.”

All in all, according to VanEck’s version of the story, a Democrat in the White House is unlikely to be able to cure the current financial problems. Here is their rejoinder on the matter.

We argue that a Kamala Harris presidency could be even better for Bitcoin than a second Trump term because it would, in our view, accelerate many of the structural problems that are driving cryptocurrency adoption in the first place.


Note that there are still reasons for crypto enthusiasts to worry about Harris' possible presidential election victory. For example, earlier journalists reported on the prospect of appointment to the post of U.S. Treasury Secretary Gary Gensler, who is chairman of the Securities Commission and actively fights against crypto.

On top of that, the Harris team is tentatively working with a former economic adviser to the Joe Biden administration named Bharat Ramamurthy. He is believed to be one of the ideologues behind the so-called "Operation Boost 2.0," which involves fighting the digital asset industry at the U.S. government level.


US Vice President Kamala Harris

According to Decrypt’s sources, BTC could serve as an important and useful tool to hedge risk in the face of conventional currencies’ problems. However, Trump’s election would still be better for the digital asset ecosystem as a whole, not just Bitcoin individually. Analysts continue.

Conversely, we believe a Trump presidency is generally good for the ecosystem as a whole, as it will likely lead to deregulation and more business-friendly policies. Perhaps – this one will be highly relevant for businesses that have come under increasing regulatory scrutiny over the past four years.

Former US President Donald Trump

Former US President Donald Trump called cryptocurrencies a “fraud” years ago when he was in office. However, since then, he has managed to release several series of NFT collections and even launched his own DeFi project called World Liberty Financial. Consequently, Donald is directly connected to the coin industry, even though he clearly doesn’t interact with it personally.

On the other hand, Vice President Harris has said very little about the crypto industry as a whole. Some major executives along the lines of billionaire Mark Cuban have hinted that her team does have a keen interest in cryptocurrencies.

That rumour was confirmed tonight. Speaking to backers at a fundraising event in New York, Harris mentioned the contents of her economic programme, focusing on innovation and job creation through emerging technologies. Here is a quote on the subject.

I will bring together workers, small business founders and innovators, as well as large companies. We will work together to invest in America’s competitiveness, invest in America’s future. We will encourage innovative technologies along the lines of artificial intelligence and digital assets, while protecting our consumers and investors.

Harris proposed a broader economic development strategy, including investments in the semiconductor and clean energy industries. She promised to streamline regulations and cut bureaucracy to create a business-friendly environment.

U.S. Vice President Kamala Harris

However, the promises didn’t impress Oliver Lynch, head of exchange Bittrex Global. Here’s a quote.

We don’t yet know how Harris will feel about cryptocurrencies. As we get closer to election day, we can assume that Kamala will generally continue the policies of the current administration. It is unlikely that she will remove Gensler – he has done too well to convince people that he is the right person for the job.

However, Lynch does not deny that even among Democrats there are enough supporters of cryptocurrencies. Nancy Pelosi, former White House speaker, also belongs to their camp.

Sunday’s fundraiser drew high-profile Democrats such as New York Governor Kathy Hochul and Senate Majority Leader Chuck Schumer, as well as celebrities Anne Hathaway and Billy Porter. Ticket prices ranged from $500 to $1 million, boosting already significant fundraising prospects.

U.S. Senate Majority Leader Chuck Schumer

The event solidified the vice president’s financial advantage over Trump. Still, her campaign, the Democratic National Committee and state parties raised $361 million in August, notably more than the $130 million raised by Trump and Republicans during the same period.


Kamala Harris has found herself in a less favourable position in the eyes of crypto enthusiasts than Donald Trump. Still, she has never once mentioned the coin industry before - much less attempted to conduct a Bitcoin transaction in a New York City pub. That's why now any statements she makes about crypto will be seen as attempts to placate investors and attract their votes at any cost.


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