This development comes as the 2024 presidential race heats up. Harris, the Democratic nominee, is facing a tight contest against Republican nominee Donald Trump.
As the election approaches, the push to embrace Bitcoin could play a crucial role in swaying voters. This is particularly key in battleground states.
Harris’s Bitcoin Support Heats 2024 Race
Kamala Harris’s support for Bitcoin aims to attract voters interested in digital assets. By endorsing measures that promote Bitcoin, Harris aims to position herself as a forward-thinking candidate who supports innovation and financial inclusion. This endorsement could resonate with younger voters and tech-savvy individuals who are enthusiastic about the potential of cryptocurrencies.
The potential impact of this support on the election is significant. Cryptocurrency has become a major topic of interest in recent years, with many seeing it as a symbol of financial empowerment and modernization. By championing Bitcoin, Harris could attract voters who view cryptocurrency as a vital component of economic progress and personal freedom. This demographic is particularly active in several swing states, where the battle for electoral votes is expected to be fierce. This is what the CPO of Coinbase said about it:
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Harris’s advocacy for Bitcoin could also set her apart from Donald Trump, who has had a complicated relationship with cryptocurrency. While Trump has occasionally commented on digital assets, his stance has generally been skeptical. This contrast could provide Harris with an opportunity to differentiate her platform and potentially gain an edge in the competition.
More about Karris & Bitcoin
Kamala Harris has endorsed a tax on unrealized capital gains, which means that investors would be required to pay taxes on the increase in value of their assets even if they haven’t sold them.
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For example, if you purchase Bitcoin at $50,000 and its value rises to $70,000, you would still owe taxes on the $20,000 gain, despite not having cashed out the Bitcoin. This proposed tax aims to address issues related to tax avoidance and ensure that gains are taxed as they accrue, rather than only when realized through a sale.
Disclaimer
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