The influence of politics over crypto is growing.
As one “crypto super PAC,” Fairshakes, has already raised over $14.4 million, politicians race in a bid to get funding from blockchain developers. About $119 million was raised by the top listed crypto PACs overall. The political stage is impressive for the token market to say the least.
How much influence it has over each nominee’s chance, however, remains to be seen.
On one hand, investors are sure that Trump will get a boost due to his crypto support. On the other side, the data shows that his biggest benefit is limited to donations made in crypto.
The base of voters who support crypto, overall, are actually found on both sides.
This revelation has led to Democrats finally taking the stage in support of the token economy.
One, Single Mention by Kamala Harris
A presidential candidate opens their mouth about crypto, and the entire world cues in.
Being Biden’s Vice President, Kamala Harris is seen as a critic of crypto ventures.
Today, the pressure on Democrats gives them few other options but to succumb to the global demand growing for crypto and blockchain. Not only is society adopting these technologies, but the presidential race Kamala now pushes is being scrutinized on the basis of tech …
With her competition looking to refute her public reputation, one of the few areas she falls short in is her administration’s stance on the global use of blockchain. Out of every seven voters in the coming U.S. elections, one of them has owned or still owns cryptocurrencies.
However, among those who don’t own crypto, Harris has a 12% lead, yet she also lags behind by 12% with those who DO own tokens like Bitcoin. Her recent change in stance is duly noted.
Data on “Politics Over Crypto”—
Kamala is, by no means, out of the crypto race.
As the founder of SkyBridge Capital, Anthony Scaramucci, stated, “It’s hard to know which direction [Trump]’s going to go,” as Scaramucci believes that Kamala’s policies largely reflect the crypto ambitions of Trump. Evenmore, analysts like Anthony are suspicious of Donald.
They see him, regardless of his crypto rhetoric, as being too unpredictable …
Now for the Opposing Perspective
Since the inception of the 2024 presidential race, Ex-President Donald Trump has been aggressively vocal about crypto and, specifically, Bitcoin. However, according to political analysts, the Trump base isn’t the only force behind the 45th President’s push for BTC.
Lobbyists and crypto businesses alike believe they stand to gain unforetold benefits. “Why is that,” you might ask … It’s because Biden’s administration hasn’t been entirely opposed to crypto, but they, likewise, haven’t been entirely welcoming to it.
Trump, on the other hand, is looking for donors and, as he did during his 2016 election, will allow even scrupulous governments to sponsor his campaign—albeit with untraceable funds. For candidates like Trump, the more funding he gets that can’t be tracked, the better.
More so, men, being that the Republican nominee is one, are more likely to hold crypto investments. Men are also more likely to vote for Trump. According to The Washington Post, crypto users are often seen as opposed to governments, and this can give Trump a boost.
So Who Has the Ultimate Sway On Crypto Politics?
According to political analysts, the race for crypto is actually closer than the presidential candidates are now portraying. Crypto, as a political issue, simply doesn’t have enough clout to make itself a final decision maker for the coming elections.
Though Trump’s base favors removing any government, crypto isn’t dominated by “anarchists.”
Being more widely used now than 10 years ago, cryptocurrencies and blockchain are seen as legitimate by a wider selection of voters. With Kamala Harris now closing the rhetoric gap, the race will get much more tense than we can now imagine.
Stay tuned for updates and accurate reporting from Tokize, for you’ll find it all right here.
