- Trump pledges to end crypto regulation and pardons for Ross Ulbricht, appealing to Bitcoin advocates as Election Day approaches.
- Harris proposes AI-friendly policies, contrasting Trump’s pro-Bitcoin stance, as supporters look to the Nov. 5 election.
- Republican sweep might fuel Bitcoin’s growth, with projections hinting at major price surges under pro-crypto policies.
In commemoration of the 16th year since the creation of Bitcoin, the former president of the USA Donald Trump reinforced his stand in defense of the government’s rigid restrictive policies concerning cryptocurrency. Trump declared himself a supporter of Bitcoin in a social media post, stating he would put an end to what he dubbed “Kamala’s war on crypto.” His statement, referring to his rival Kamala Harris, also highlighted a pro-Bitcoin policy agenda he would push forward if he won the election.
Trump took this occasion to address his commitment to the crypto community and stressed his intention to promote Bitcoin innovation in the United States. This comes days before the Nov. 5 election, where Trump hopes to gain favor among crypto advocates.
Backing Bitcoin and Crypto-Friendly Policies
Trump’s message to the Bitcoin community also included a reiteration of his plan to pardon Ross Ulbricht, the founder of Silk Road, who is serving a life sentence. His recent posts suggest he views a supportive approach toward Bitcoin and its technology as an opportunity to strengthen U.S. economic independence and technology leadership. Besides this, he proposed a complete overhaul of crypto regulations, a move likely aimed at distancing the U.S. from current policies that many crypto advocates criticize.
Trump has been actively pursuing crypto voters, promising to end federal Bitcoin sales and dismiss SEC chair Gary Gensler, known for his aggressive stance on cryptocurrency enforcement. Trump’s strategy is gaining attention, especially as BlackRock’s Bitcoin ETF garners record investments.
Bitcoin’s Momentum and Election Implications
Bitcoin has maintained steady growth, with notable corporate holders like MicroStrategy adding to their portfolios. Trump’s pro-Bitcoin rhetoric could further fuel this momentum, especially if his proposed policies ease regulatory constraints. Many crypto enthusiasts suggest a Republican victory could accelerate pro-crypto reforms, potentially driving Bitcoin to new price highs. Notably, a Trump win, combined with Republican control of Congress, could create favorable conditions for digital assets, possibly pushing Bitcoin’s price toward $125,000 by the end of the year.
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