- The Democratic Party’s 2024 platform omits Bitcoin and cryptocurrency, reflecting a continuation of the Biden-Harris administration’s stance.
- The Republican Party’s 2024 platform embraces Bitcoin, opposing a CBDC, and supports Americans’ rights to mine and self-custody digital assets.
- The absence of cryptocurrency in the Democratic platform could impact the votes of 50 million crypto holders in the upcoming 2024 election.
The official presentation of the Democratic Party’s platform for 2024 took place at the Democratic National Convention (DNC). Notably, the platform does not address Bitcoin or any other cryptocurrencies. The exclusion is consistent with the Biden-Harris administration’s four-year strategy of being mostly unfavorable toward the crypto industry.
The Democratic candidates, Kamala Harris and Tim Walz, have not made cryptocurrencies a priority in their campaigns. The absence of Bitcoin and cryptocurrency from the platform demonstrates the party’s persistent attitude on the topic, indicating a lack of commitment for incorporating digital currencies into their broader economic policy.
The Republican Party Embraces Bitcoin
In contrast, the Republican Party has made Bitcoin a primary focus of their program. They have committed to cease what they call the Democrats’ ‘unlawful and unamerican crypto crackdown.’ Their policy rejects the establishment of a Central Bank Digital Currency (CBDC) and pledges to defend Americans’ freedom to mine Bitcoin.
The Republican Party’s attitude demonstrates a substantial difference in how the two major parties see the future of digital currencies in the United States. The distinction was underscored when Donald Trump, the Republican presidential candidate, addressed the Bitcoin 2024 Conference in Nashville.
Trump utilized the forum to emphasize his strong support for the Bitcoin industry, highlighting the differences between his policies and those of his Democratic opponents.
Independent Candidate’s Position on Bitcoin
Independent presidential candidate Robert F. Kennedy Jr. spoke at the Bitcoin 2024 Conference. Kennedy expressed his support for Bitcoin, showing the widening political rift over digital currency.
The predicted fifty million Bitcoin and crypto holders in the nation may be swayed by the Democratic platform’s absence of cryptocurrencies in the next 2024 election. The candidates’ stances on the expanding digital economy are likely to be on the minds of these people.
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