Bitwise CIO says Kamala Harris’ crypto proposal for Black men shows investor eagerness to enter the digital assets market
2024-10-16

Vice President Kamala Harris' recent comments on cryptocurrency show investor eagerness to enter the digital asset market if there's a regulatory green light, according to Bitwise Chief Investment Officer Matt Hougan.
On Monday, Harris vowed to support a regulatory framework that protects Black men investing in and owning cryptocurrency. The Democratic presidential candidate's proposal coincided with bitcoin's price increasing 5% and $555.8 million going into Bitcoin exchange-traded funds — their largest total since June 4 — on Monday, Hougan noted in a blog post.
"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," Hougan wrote.
"Regardless of what Harris actually said, today’s price action tells me that there is a lot of capital on the sidelines waiting for the all-clear to enter the market," he added.
The price of bitcoin traded at $66,960 at publication time, up 1.3% over the past 24 hours according to The Block's price page.
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