The Democratic Party’s official 2024 platform was released today at the Democratic National Convention, sparking controversy as it made no mention of Bitcoin or cryptocurrency. This decision reflects the ongoing hostility towards the industry during the Biden-Harris administration.
In contrast, the Republican Party has embraced Bitcoin, making it a central part of their platform. They have pledged to end what they describe as the Democrats’ “unlawful and unAmerican crypto crackdown” and oppose the creation of a Central Bank Digital Currency (CBDC).
The differing approaches between the parties were further highlighted when Republican presidential candidate Donald Trump spoke at the Bitcoin 2024 Conference, emphasizing his support for the industry. Meanwhile, Democratic presidential candidate Kamala Harris declined to participate in the event.
As the 2024 election approaches, the absence of Bitcoin and crypto from the Democratic platform may influence the vote of the estimated 50 million Bitcoin and crypto holders across the country. Independent presidential candidate Robert F. Kennedy Jr. also voiced his support for Bitcoin at the conference, underscoring the growing political divide on this issue.
It is important to note that the Democratic party platform was approved prior to Joe Biden dropping out of the race, and delegates are expected to vote on the platform as written. This development sets the stage for a potentially contentious election season as voters weigh the candidates’ stances on Bitcoin and cryptocurrency.
