TV Personality, Hedge Fund Manager Endorses Kamala Harris – Good For Crypto?
Recently, Mad Money host Jim Cramer said he would have no more objections to Vice President Kamala Harris if she were his favorite candidate in the November US presidential election. According to him, her policies would favor the huge corporations and multinational firms more than Joe Biden does.
A Vote For Kamala Harris
While Biden has been quite aggressive in his approach to corporate regulation, Cramer sees Harris as more of a centrist and believes that may lead to a pro-business environment that could prove stability in markets during what he terms “Black November” economic commotion.
This would also reflect economic uncertainty, with direct implications of inflation, geopolitical tensions, and indices movement on the stock market affecting investor confidence. He said that an initiative headed by Harris’ party could relieve or eradicate all these apprehensions.
BREAKING: Jim Cramer says Kamala Harris is going to win.
It’s over for her.
— DogeDesigner (@cb_doge) October 11, 2024
Her policies could form an excellent blend of economic growth and stability, particularly in a trying time for businesses to learn the markets across the globe. Harris would probably ensure competitive forces but not necessarily shake up large corporations through her regulatory regime promoting innovation without imposing stringent measures on it.
A Unique Approach To Regulating Technology
As Biden invokes a more interventionist policy style, we can see the opposite for Harris who utilizes a more technology-based policy focus. In general, Cramer believes that Kamala Harris’ approach would be less aggressive compared to the opposition; he believes that she can find the balance that would create competition without suffocating the major players in the tech industry.
Cramer’s Thoughts On Trump-Vance Duo
Cramer even speculates on what an economic kind of ticket for the President and Vice-President pair of Donald Trump and JD Vance would mean, that it would be protectionist and pro-domestic. While this would help in some areas, it would pose a threat to other multinational companies relying on international supply chains.
Cramer argues that higher protectionism and economic nationalism will bring about destabilization, particularly in companies whose business models entail international operations. A more globally focused economic agenda, as Harris suggests, would most certainly push the globalization wave within which globalization has far been occurring with more chance of stability for transnational companies with interests abroad.
How A Kamala Harris Presidency Could Impact The Crypto Industry
Meanwhile, if Kamala Harris wins the presidency, her centrist approach to technology regulation could significantly affect the cryptocurrency industry. Unlike Biden’s aggressive regulatory stance, Harris may foster a more innovation-friendly environment. This could allow crypto firms to thrive without heavy-handed regulations, promoting competition while encouraging growth.
With the crypto market valued at $2.1 trillion, a Harris presidency might bring clarity and stability to an often uncertain regulatory landscape. However, her policies will likely adapt to broader economic needs as she navigates the complexities of the market.
Featured image from Getty Images, chart from TradingView