- Harris’ VP pick sparked crypto community concerns, as Walz has remained vague on digital asset policies.
Despite this, the KAMA memecoin surged, and Harris’ election predictions strengthened.
As a seasoned researcher with a keen interest in politics and digital assets, I find myself intrigued by the recent developments surrounding Kamala Harris’ vice-presidential pick, Tim Walz. On one hand, the crypto community, which I’ve been closely observing for quite some time now, is expressing concerns about Walz’s vague stance on digital asset policies and his reputation for regulatory measures. On the other hand, the decision to choose Walz has left a positive impact on Harris’ election predictions, as evidenced by the surge in the KAMA memecoin and strengthened Polymarket predictions.
In the vibrant atmosphere of a rally held in Philadelphia, Democratic presidential contender Kamala Harris announced that Minnesota Governor Tim Walz would join her ticket as her potential vice president.
I received news of their collaboration mere hours prior to our initial joint appearance, which ignited a heated competition between us and the Republican pair – ex-President Donald Trump and Ohio Senator JD Vance – in the crypto investment sphere.
Crypto community dispirited
Although there was much anticipation about their collaboration, crypto enthusiasts felt let down because neither Harris nor Walz have clearly stated their views on digital currencies and blockchain legislation so far.
Darren Parkin, The Digital Commonwealth’s editorial director, recently commented on a post on X (previously known as Twitter), stating…
“Tim Walz hasn’t yet nailed his colours to the mast in terms of Bitcoin and crypto in general.”
He further added,
“However, he’s a stickler for regulation. Make of that what you will.”
Without directly stating his stance, Walz’s history of advocating for regulations hints that he could adopt a more conservative viewpoint when it comes to dealing with digital currencies.
Significantly, a recent Axios article disclosed that Kamala Harris had been contemplating Michigan Senator Gary Peters, known for his negative stance on cryptocurrency, as a possible running mate for the 2024 election.
However, the decision to ultimately choose Walz has left the crypto community puzzled.
Skeptics support Harris
While some members of the cryptocurrency community expressed varying opinions, it’s worth noting that Harris’ selection as vice president did not leave everyone dissatisfied within the community.
In fact, outside the crypto sphere, there was notable optimism about Harris’ prospects.
In a recent Reuters article, Independent U.S. Senator Joe Manchin voiced his backing for Vice President Kamala Harris, indicating optimism about her potential victory in the forthcoming election.
All contenders demonstrated strength, making an excellent choice from among them challenging; however, I struggle to imagine anyone more suited than Governor Walz for uniting our nation and restoring balance within the Democratic Party.
multiple leaders backing Harris also noted that Governor Walz, who assumed office in 2019 and was previously a U.S. House Representative, predominantly focuses on addressing climate change and promoting renewable energy.
If we view things through the perspective of cryptocurrencies, it’s clear that Walz hasn’t delved deeply into crypto-related discussions or topics up until now.
Tim Walz: crypto impact
It’s surprising to note that while this news seemed negative for most, it actually caused a significant increase – over 13% in the last 24 hours – for Kamala Harris’ memecoin, according to CoinGecko.
Moreover, Polymarket forecasts indicated that Harris was making progress, narrowing the gap between her and President Trump, who had a small advantage with 52% of the votes, while Harris garnered 47%.
In only 91 days left, it’s intriguing to consider if cryptocurrency could significantly impact the 2024 U.S. presidential election.
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2024-08-08 02:15