The Democratic Party's official 2024 platform was released today on day one of the Democratic National Convention (DNC), without any mention of Bitcoin or cryptocurrency. This decision aligns with the past four years of the Biden-Harris administration's hostility towards the industry.
Despite the growing significance of Bitcoin and digital assets, neither Kamala Harris or Tim Walz, who are running for president and vice president in the upcoming election this November, has prioritized the inclusion of Bitcoin and crypto in the party's agenda.
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). Additionally, the GOP vows to protect the right to mine Bitcoin, ensure Americans can self-custody their digital assets, and maintain financial privacy from government surveillance.
The differing approaches between the parties were further highlighted when Republican presidential candidate Donald Trump spoke at the Bitcoin 2024 Conference in Nashville, emphasizing his support for the industry. Meanwhile, Kamala Harris, the Democratic presidential candidate, declined to speak or participate at the event.
Independent presidential candidate Robert F. Kennedy Jr. did also speak at the Bitcoin 2024 Conference, voicing his support for Bitcoin, further underscoring the growing political divide on this issue.
As the 2024 election approaches, the absence of Bitcoin and crypto from the Democratic platform may influence the vote of an estimated 50 million Bitcoin and crypto holders across the country, who are looking for the best candidate to champion their cause.
Update: Eleanor Terrett of Fox Business reports that this party platform was approved prior to Joe Biden dropping from the race, and DNC delegates will vote on the platform tonight "but it’s expected to pass as written."