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By Nigel Green
The 2024 US presidential race for the White House has made one thing clear: the future of finance is digital, and world leaders can no longer afford to ignore cryptocurrency.
As one of the tightest races in American history draws to a close, the contrasting approaches of Donald Trump and Kamala Harris toward crypto offer key lessons for global policymakers.
Trump, who positioned himself as the pro-Bitcoin candidate throughout the campaign, saw an opportunity to champion financial decentralization.
His rallies and speeches frequently highlighted Bitcoin’s meteoric rise—hovering around $69,000 by early November 2024—and framed this as a win for individual financial freedom. He even attended the international Bitcoin Conference as a key speaker.
Trump’s strategy resonated with a wide base of supporters who distrust traditional institutions, particularly the Federal Reserve. His promise to support policies that would bolster crypto adoption and protect the crypto economy from excessive regulation created a bullish sentiment among investors and entrepreneurs alike.
Harris, while more cautious, also recognized the importance of digital currencies during her campaign.
She spoke about the potential of blockchain to drive innovation and improve financial inclusion, especially for marginalized communities.
Her campaign frequently highlighted the potential for crypto to democratize access to banking services, appealing to younger voters and progressives eager to see technology bridge social and economic divides.
But she was also careful to balance this optimism with concerns about ensuring proper regulation to avoid market manipulation and financial crime, acknowledging the need for a stable and secure financial environment.
What both candidates acknowledged—and what world leaders must now contend with—is that crypto is no longer a fringe issue.
In a time when economic uncertainty, inflation, and mistrust in traditional institutions are at an all-time high, digital currencies offer an appealing alternative.
Global leaders should take heed of Trump’s and Harris’s strategies, understanding that crypto’s rise cannot be halted, but must be managed wisely.
Trump’s vocal support for Bitcoin resonated with voters who saw cryptocurrencies as a way to hedge against inflation and the volatility of traditional markets.
By the time of the election, Bitcoin had surged over 300% in just two years, from roughly $16,000 in 2022 to $69,000 in 2024. Trump harnessed this enthusiasm, framing Bitcoin as a symbol of American financial resilience and individual empowerment.
His promise to support pro-crypto legislation and reduce capital gains taxes on digital assets struck a chord with investors, further buoying the market.
For world leaders, the lesson from Trump’s campaign is clear: the political power of crypto cannot be underestimated.
Countries that fail to embrace the digital currency revolution risk being left behind as capital flows to more crypto-friendly markets. Moreover, world leaders must recognize that crypto is not just a financial tool but a symbol of economic freedom for many.
Trump’s message of using Bitcoin to reclaim individual control over wealth is one that resonates deeply with a global audience disillusioned by centralized institutions.
A significant factor in the former president’s pro-crypto stance during the 2024 campaign was the influx of support from major cryptocurrency donors.
Some of the biggest names in the crypto world threw their weight behind Trump’s bid for the White House, providing crucial funding that helped fuel his campaign.
Notably, venture capitalist and crypto advocate Peter Thiel contributed millions, with estimates suggesting he poured in over $20 million through various political action committees (PACs) linked to the Trump campaign.
Other key donors from the crypto sector included Tyler and Cameron Winklevoss, who reportedly donated a combined $15 million to support Trump's vision of a Bitcoin-friendly America.
Altogether, Trump received over $50 million in contributions from the crypto industry, solidifying his reputation as the candidate who would protect and promote the future of digital currencies.
This influx of funds not only helped Trump’s campaign gain momentum but also highlighted the growing political clout of the crypto community.
On the other hand, Harris’s approach underscored the need for balance. While she recognized crypto’s potential, she also emphasized the importance of proper regulation.
Throughout her campaign, Harris called for a global framework to regulate cryptocurrencies, ensuring transparency and security without stifling innovation. She pushed for policies that would enable blockchain technology to improve the efficiency of financial systems while protecting consumers from fraud and exploitation.
Ultimately, the lesson from the 2024 US presidential race is that the world is moving toward a more digital financial future, and crypto will play a central role in that transformation – a transformation that global political leaders will never be able to ignore again.
Author Bio
Nigel Green is deVere Group CEO and Founder
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Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.