Former President Donald Trump marked the 16th anniversary of the Bitcoin whitepaper with a commitment to end the "war on crypto" and to support a crypto-friendly agenda as he seeks backing from crypto advocates ahead of the Nov. 5 election.
In a recent social media post, Trump took aim at Democratic rival Kamala Harris, asserting his dedication to fostering innovation in the cryptocurrency space. He stated:
“I would like to wish our great Bitcoiners a Happy 16th Anniversary of Satoshi’s White Paper.”
Trump emphasized Bitcoin's role as a decentralized alternative to traditional financial systems, expressing his intent to nurture this innovation within the US. He declared:
“We will end Kamala’s war on crypto, & Bitcoin will be MADE IN THE USA! #Bitcoin #FreeRossDayOne”
Satoshi Nakamoto's whitepaper, first published on Oct. 31, 2008, proposed Bitcoin as a peer-to-peer electronic cash system designed to operate outside traditional banking systems. Today, Bitcoin has become a global symbol of financial autonomy, valued at over $70,000.
Bitcoin and Elections
Trump’s acknowledgment of Bitcoin positions him as a favored candidate among many crypto enthusiasts. He has previously promised to limit the government’s sale of BTC and to dismiss SEC Chair Gary Gensler, who has been involved in high-profile enforcement actions against crypto firms. In contrast, Vice President Harris promotes a balanced approach, advocating for technological development alongside investor protections.
Republican Sweep
Many industry experts believe a Trump victory, paired with a Republican-controlled Congress, could be highly bullish for Bitcoin. Predictions suggest that Bitcoin could surge by up to 10% following a Trump win, potentially reaching around $80,000. If Republicans secure both the presidency and Congress, forecasts indicate Bitcoin could climb to $125,000 by year-end.
As the election approaches, Bitcoin advocates are at a pivotal moment, confident in Bitcoin's decentralized design and global appeal, regardless of political outcomes.
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