Bailey noted that connecting with cryptocurrency enthusiasts could be a strategic move for Harris.
Kamala Harris’ Kama token surged almost 40% in 24 hours, currently trading at $0.035, as news broke that she might speak at the Bitcoin 2024 Conference alongside Donald Trump. David Bailey, CEO of Bitcoin Magazine, confirmed that discussions are underway for Harris to say, with her campaign team expected to decide soon.
Bailey highlighted that engaging with the growing voter base interested in cryptocurrency could be a savvy move for Harris.
On Tuesday, Bailey shared on X that negotiations with Harris’ campaign are ongoing. He emphasized the strategic importance of Harris addressing the rapidly expanding demographic interested in crypto.
The Bitcoin 2024 convention, organized by Bitcoin Magazine, begins on July 25. Trump, who has recently shown support for crypto, is scheduled to speak at the event. Other notable speakers include independent candidate Robert F. Kennedy Jr., former GOP candidate Vivek Ramaswamy, and Senators Bill Hagerty and Marsha Blackburn.
This development comes as Democrats see a chance to win back a significant portion of the cryptocurrency vote following Joe Biden’s exit from the 2024 race. Biden has endorsed Harris as the Democratic nominee. Rumors are swirling that Trump might announce a strategic Bitcoin reserve at the conference, though Polymarket bettors remain skeptical.
Meanwhile, Solana-based meme coin KAMA, inspired by Harris, soared 40% to a new high of $0.035 with 24-hour trading volume standing at $12.18 million. The token has skyrocketed 4,000% since a June low of $0.00061, largely driven by Harris’ potential presidency.
Harris has yet to comment publicly on cryptocurrencies or her strategy for the market. In contrast, Trump has openly supported crypto and will address the Bitcoin 2024 conference on Saturday. Many expect the Democratic party to address the industry soon, potentially influencing market trends.
Wintermute, a crypto trading firm, noted that Harris securing the nomination aligns with the Democratic strategy and any deviation could cause market volatility. Polymarket betting odds for Harris being the Democratic nominee rose to 90%, driven by an $81 million fundraising boost for the Democratic campaign in 24 hours.
Biden’s withdrawal and endorsement of Harris have significantly influenced these odds. Polymarket traders have placed $30 million in bets favoring Harris, with Michelle Obama as the next favorite.
Kamala Harris’ involvement in the Bitcoin 2024 Conference could mark a pivotal moment for crypto politics. Will her stance attract the growing voter base, or will it face backlash from traditionalists within her party?