Bitwise CIO says Kamala Harris' crypto proposal for Black men shows investor eagerness to enter the digital assets market

Vice President Kamala Harris' recent comments on cryptocurrency show investor eagerness to enter the digital asset market if there's a regulatory green light, according to Bitwise Chief Investment Officer Matt Hougan.

On Monday, Harris vowed to support a regulatory framework that protects Black men investing in and owning cryptocurrency. The Democratic presidential candidate's proposal coincided with bitcoin's price increasing 5% and $555.8 million going into Bitcoin exchange-traded funds — their largest total since June 4 — on Monday, Hougan noted in a blog post.

"That little sliver of good news was enough to send bitcoin up 5%. Enough to push more than $500 million into bitcoin ETFs. Enough for people to start wondering if crypto is finally going to make an assault on all-time highs," Hougan wrote.

"Regardless of what Harris actually said, today’s price action tells me that there is a lot of capital on the sidelines waiting for the all-clear to enter the market," he added.

The price of bitcoin traded at $66,960 at publication time, up 1.3% over the past 24 hours according to The Block's price page.