Kamala Harris on Cryptocurrency Regulation

Vice President Kamala Harris' recent comments on cryptocurrency reflect growing investor interest in digital assets, as highlighted by Bitwise Chief Investment Officer Matt Hougan.

On Monday, Harris committed to a regulatory framework aimed at protecting Black men investing in cryptocurrencies. This announcement coincided with a 5% increase in bitcoin's price and a substantial influx of $555.8 million into Bitcoin exchange-traded funds (ETFs), marking the largest total since June 4, according to Hougan's blog.

Hougan observed, “That little sliver of good news was enough to send bitcoin up 5%. Enough to push more than $500 million into bitcoin ETFs. Enough for people to start wondering if crypto is finally going to make an assault on all-time highs.”

He noted that regardless of Harris's comments, the price action suggests significant capital is waiting for a regulatory green light to enter the market.

As of the publication time, the price of bitcoin stood at $66,960, reflecting a 1.3% increase over the past 24 hours according to The Block's price page.