Trump reaffirms support for Bitcoin on Satoshis whitepaper anniversary
Former President Donald Trump marked the 16th anniversary of the Bitcoin (BTC) whitepaper with a pledge to end the war on crypto, presenting a stark alternative to current policy as he seeks support from crypto advocates ahead of the Nov. 5 election.
Trumps post on social media, which also targeted Democratic rival Kamala Harris, highlighted his commitment to a crypto-friendly approach and his plan to pardon Silk Road founder Ross Ulbricht.
He wrote:
I would like to wish our great Bitcoiners a Happy 16th Anniversary of Satoshis White Paper.
Trump invoked Bitcoins origins as a decentralized alternative to traditional financial systems, signaling his desire to nurture innovation within the US. He further stated:
We will end Kamalas war on crypto, & Bitcoin will be MADE IN THE USA! #Bitcoin #FreeRossDayOne
First published on Oct. 31, 2008, in response to the Lehmann brothers crash, Satoshi Nakamotos whitepaper proposed Bitcoin as a decentralized, peer-to-peer electronic cash system designed to operate outside of traditional banks.
The flagship crypto, now valued at over $70,000, has become a global symbol of financial autonomy and one of the best-performing assets in recent history. Sixteen years after Nakamotos whitepaper, Bitcoin has established itself as a groundbreaking asset and a symbol of economic independence for millions.
Bitcoin and elections
Trumps latest acknowledgment of Bitcoin and its pseudonymous founder, Satoshi Nakamoto, further cements him as the preferred candidate for many Americans who care about crypto.
The former President has positioned himself as a Bitcoin ally, promising to curb the governments sale of BTC and to dismiss SEC Chair Gary Gensler, whose tenure included high-profile enforcement actions against crypto firms.
In contrast, Vice President Harris has advocated for a balanced approach, promoting technology development while committing to investor protections within the digital asset space.
Her supporters believe her policies ensure safety for investors in the still-maturing asset class, while Trumps backers view his pro-crypto stance as essential for US tech leadership.
Republican sweep
Many in the industry believe that a Trump victory, combined with a Republican-controlled Congress, could be highly bullish for Bitcoin. Experts project that such an outcome might lead to rapid pro-crypto regulatory reforms, providing a favorable environment for digital assets.
Additionally, in the days immediately following a Trump win, Bitcoin could surge by up to 10%, reaching around $80,000. Meanwhile, if Republicans secure both the presidency and Congress, Bitcoin could climb to $125,000 by the end of the year.
The forecast reflects the expectation that a Republican-led government would implement policies supportive of the crypto industry, creating strong tailwinds for Bitcoins price growth.
As the US approaches Election Day, Bitcoin advocates face a defining moment, with many confident that Bitcoins decentralized design and global appeal will endure regardless of political outcomes.
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Text source: CryptoSlate
