Harris selects crypto-cautious Tim Walz as VP candidate, per reports
Vice President Kamala Harris has selected Minnesota Governor Tim Walz as her running mate for the 2024 presidential election and is looking to bolster support in crucial Midwestern battleground states.
Walz’s political profile as a potential vice presidential pick for Kamala Harris is aimed at his appeal to rural and moderate voters, a contrast to Harris’ coastal California base.
The Midwest sensibility is seen as valuable for balancing the Democratic ticket, especially in battleground states.
Walz and crypto
Tim Walz has not made any public statements specifically addressing the cryptocurrency industry. However, he has a strong stance on energy policy, notably signing legislation for Minnesota to transition to 100% clean energy by 2040.
This is significant for the crypto industry, particularly Bitcoin (BTC) mining, which is often criticized for its high energy consumption. Walz’s clean energy views as a potential Vice President could influence how crypto mining operations function across the nation, potentially pushing miners towards more sustainable practices.
Some Democrats, like Elizabeth Warren of Massachusetts, do not support cryptocurrency in its current form, while others in the party are calling for Harris to consider a more friendly approach to the industry. starting to embrace the concept of crypto. However, this election season, Republican nominee Donald Trump’s embrace of crypto has pressured Harris and Democrats as a whole to consider a more friendly approach to the industry.
The rising relevance of crypto in the U.S. is evident with one-in-three American voters more likely to invest in Bitcoin or other cryptos after the approval of a spot Bitcoin ETF.
Because of these pressures, Walz may need to reconsider his stance on energy and crypto in order to gain support from the crypto community in the upcoming election.
