TrumppledgestoendcryptoregulationandpardonsforRossUlbricht,appealingtoBitcoinadvocatesasElectionDayapproaches.
HarrisproposesAI-friendlypolicies,contrastingTrump’spro-Bitcoinstance,assupporterslooktotheNov.5election.
RepublicansweepmightfuelBitcoin’sgrowth,withprojectionshintingatmajorpricesurgesunderpro-cryptopolicies.
Incommemorationofthe16thyearsincethecreationofBitcoin,theformerpresidentoftheUSADonaldTrumpreinforcedhisstandindefenseofthegovernment’srigidrestrictivepoliciesconcerningcryptocurrency.TrumpdeclaredhimselfasupporterofBitcoininasocialmediapost,statinghewouldputanendtowhathedubbed“Kamala’swaroncrypto.”Hisstatement,referringtohisrivalKamalaHarris,alsohighlightedapro-Bitcoinpolicyagendahewouldpushforwardifhewontheelection.
IwouldliketowishourgreatBitcoinersaHappy16thAnniversaryofSatoshi’sWhitePaper.WewillendKamala’swaroncrypto,&BitcoinwillbeMADEINTHEUSA!VOTETRUMP!#Bitcoin#FreeRossDayOne
—DonaldJ.Trump(@realDonaldTrump)October31,2024
TrumptookthisoccasiontoaddresshiscommitmenttothecryptocommunityandstressedhisintentiontopromoteBitcoininnovationintheUnitedStates.ThiscomesdaysbeforetheNov.5election,whereTrumphopestogainfavoramongcryptoadvocates.
BackingBitcoinandCrypto-FriendlyPolicies
Trump’smessagetotheBitcoincommunityalsoincludedareiterationofhisplantopardonRossUlbricht,thefounderofSilkRoad,whoisservingalifesentence.HisrecentpostssuggestheviewsasupportiveapproachtowardBitcoinanditstechnologyasanopportunitytostrengthenU.S.economicindependenceandtechnologyleadership.Besidesthis,heproposedacompleteoverhaulofcryptoregulations,amovelikelyaimedatdistancingtheU.S.fromcurrentpoliciesthatmanycryptoadvocatescriticize.
Trumphasbeenactivelypursuingcryptovoters,promisingtoendfederalBitcoinsalesanddismissSECchairGaryGensler,knownforhisaggressivestanceoncryptocurrencyenforcement.Trump’sstrategyisgainingattention,especiallyasBlackRock’sBitcoinETFgarnersrecordinvestments.
Bitcoin’sMomentumandElectionImplications
Bitcoinhasmaintainedsteadygrowth,withnotablecorporateholderslikeMicroStrategyaddingtotheirportfolios.Trump’spro-Bitcoinrhetoriccouldfurtherfuelthismomentum,especiallyifhisproposedpolicieseaseregulatoryconstraints.ManycryptoenthusiastssuggestaRepublicanvictorycouldacceleratepro-cryptoreforms,potentiallydrivingBitcointonewpricehighs.Notably,aTrumpwin,combinedwithRepublicancontrolofCongress,couldcreatefavorableconditionsfordigitalassets,possiblypushingBitcoin’spricetoward$125,000bytheendoftheyear.
cryptonewsland.com