cryptopolitan.com
Billionaire investor, Mark Cuban, believes Kamala Harris will be “far more open” to artificial intelligence and cryptocurrency than the current U.S. president Joe Biden, Politico reported on Tuesday. Cuban thinks Harris will bring a favorable environment for Bitcoin (BTC) if she becomes president.
Harris, the current vice president, secured enough support on Tuesday to become the Democratic Party’s nominee for president in elections slated for November. She replaces Biden who quit on July 21 following weeks of pressure from his party to step down.
Harris will face Donald Trump, the former U.S. president and Republican nominee, who now fancies himself as the “crypto president”. Trump has officially tailored his campaign to court the millions of Americans who own crypto. He has shifted from well-known dismissiveness and made Bitcoin a focus of his campaign for “America-first” innovation.
Kamala Harris to be favorable to business, Cuban says
According to the Politico report, Cuban said he was getting “feedback that she [Harris] will be far more open to business, [artificial intelligence], crypto and government as a service.”
While The Shark Tank star did not say where this “feedback” came from, he emphasized it was “certainly not confirmed by the VP”. He added:
“Changing the policies changes the message and lets everyone know she is in charge and open, literally, for business.”
Cuban recently hyped the possibility of a Trump presidency as good for Bitcoin and the crypto market. Posting on X (formerly Twitter), he said that the likelihood of tax cuts under Trump will have an inflationary effect on the dollar and drive up the value of Bitcoin.
“What will drive the price of BTC is lower tax rates and tariffs, which if history is any guide (and it’s not always ), will be inflationary,” He said.
According to Cuban, the reputation of Trump as a geopolitical wildcard will equally prejudice the dollar against BTC. “Combine that (tax cuts) with global uncertainty as to the geopolitical role of the USA, and the impact on the US dollar as a reserve currency, and you can’t align the stars any better for a BTC price acceleration.”
Part 1
Here is a contrary opinion on the emergence of Silicon Valley support for former President Trump. Which like all my opinions on here, probably won’t be popular.It’s a bitcoin play.
Not because the former President is a far stronger proponent of crypto. That’s nice.…
— Mark Cuban (@mcuban) July 17, 2024
The Politico also report talks about how Kamala Harris could affect AI, an emerging issue that’s stoked tensions with China over national security. Artificial intelligence has also raised safety concerns, the future of the human race, as well as basic fairness.
Cody Venzke, senior policy counsel for the American Civil Liberties Union, said Harris “has underscored that AI policy cannot focus on ‘existential’ risks without addressing the harms it is causing for people every day.” The vice president reportedly played a major role in drafting Biden’s executive order requiring federal agencies to use AI safely and fairly.