3 weeks ago
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As Bitcoin (BTC), the largest cryptocurrency by market capitalization, celebrates its 16th anniversary, former President Donald Trump, now a Republican candidate for the upcoming US presidential election, has issued a message to the cryptocurrency community.
In a post shared on his social media platform Truth Social and on X (formerly Twitter), the Republican candidate emphasized his commitment to supporting Bitcoin and the broader crypto industry.
Trump Wishes Bitcoin Enthusiasts A Happy Anniversary
On this occasion, Trump declared his intention to end what he refers to as Kamala Harris’s “war on crypto.” He extended warm wishes to Bitcoin enthusiasts, stating, “Happy 16th Anniversary of Satoshi’s White Paper.”
This anniversary commemorates the release of the Bitcoin whitepaper by the pseudonymous creator, Satoshi Nakamoto, on October 31, 2008. The document outlined the foundational principles of Bitcoin as a decentralized digital currency.
Trump’s increasing support for cryptocurrency aligns with his broader political agenda. In his message, he reiterated promises to bolster the industry, including a commitment that “Bitcoin will be made in the USA.”
Additionally, the former President expressed his intention to advocate for the release of Ross Ulbricht, the founder of the Silk Road online marketplace, who is currently serving a life sentence for his role in facilitating drug trafficking and other illegal activities.
Vice President Kamala Harris on the other hand, has yet to engage extensively with the topic of cryptocurrency, though she has voiced support for establishing a regulatory framework to protect investors, particularly within marginalized communities.
BTC Struggles To Reach March’s All-Time High
As reported by Bitcoinist, Kamala Harris’s stance aims to ensure that individuals, especially Black men, who invest in and own digital assets are safeguarded under US law.
However, Trump’s comments seem to have resonated better with the wider crypto community, as evidenced by bets on Polymarket, which gives the Republican candidate a 60% chance of winning the November 5 election for a potential new administration.
Trump’s chances of winning against VP Harris. Source: Polymarket.The former President has also previously vowed to fire SEC Chairman Gary Gensler, whose approach to the industry under President Biden has been characterized by enforcement actions, lawsuits and subpoenas of key players in the digital asset ecosystem, including major firms such as Coinbase, Binance, and Ripple.
Despite the celebratory tone surrounding Bitcoin’s anniversary, the largest cryptocurrency’s market performance over the past few days tells a different story.
In the 24-hour period leading up to the anniversary, Bitcoin’s price retraced nearly 2%, settling at approximately $70,600 per coin. This decline follows several unsuccessful attempts to breach its all-time high of $73,700, reached in March of this year.
Featured image from NBC, chart from TradingView.com
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