As Bitcoin celebrates its 16th anniversary today, since the release of Satoshi Nakamoto’s whitepaper, former U.S. president and 2024 U.S. election Republican nominee Donald Trump took to X (formerly known as Twitter) to congratulate Bitcoin supporters and claimed that he will end opposing candidate Kamala Harris’s alleged “war on crypto.”
Donald Trump also seized the opportunity to strengthen his position in favor of cryptocurrency, claiming to put an end to “Kamala’s war on crypto.” According to him, this is aimed at the growth of Bitcoin within the U.S. boundaries.
In a tactical move to attract crypto enthusiasts, Trump’s address even guaranteed a reprieve to Ross Ulbricht, the founder of Silk Road, who is currently serving life imprisonment. The ex-president also confirmed his intention to prevent the sales of bitcoin by the government as well as dismiss Gary Gensler from the SEC chair position.
The environment encompassing the regulation of cryptocurrencies has become more stringent with Vice President Kamala Harris taking a different stand and focusing on AI while speaking on the protection of digital assets investors.
How Bitcoin is performing
On the other hand, the performance of bitcoin has also been stable, and as it stands, bitcoin has gained around 192% this year alone as compared to S&P 500 which gained around 36%.
Due to the continued spiking prices of the cryptocurrency, substantial institutional investment has been recorded with Michael Saylor’s MicroStrategy intention to buy more bitcoin from capital raising activities.
As the adoption of spot Bitcoin ETFs by Wall Street has become the norm, the excitement over bitcoin dollars has now consistently surpassed the 1 billion dollar mark. As it stands, BlackRock’s basket fund – IBIT reached $872 million inflows within six days making it the fastest funded ETF in history, according to data by sosovalue. All in all, investment in bitcoin products has now exceeded the $72 billion mark.
With just four days to go for U.S. elections voting on November 5, Trump has certainly upped the ante, making sure that no block remains untouched from his persuasive campaign against Kamala.
Also Read: Why Donald Trump’s Victory Matters for the Crypto Industry?
