After Donald Trump’s statement this past weekend that he would stop targeting the cryptocurrency industry if re-elected, Bitcoin surged to its highest price in over six weeks.
On Monday, the price of the cryptocurrency increased by more than 3%, reaching a peak of around $69,745, marking its highest value since June 12 when it surpassed $69,800.
Trump made supportive remarks at the Bitcoin 2024 convention in Nashville, Tennessee, declaring his intention to make the United States a global leader in cryptocurrency and adopt a more pro-Bitcoin stance compared to his opponent, Sen. Kamala Harris.
The former president assured the Bitcoin community that if he takes office, the current anti-cryptocurrency initiatives by Joe Biden and Kamala Harris would come to an end. He emphasized the importance of embracing cryptocurrency technology to prevent other countries like China from dominating.
Trump also vowed to remove the chairman of the Securities and Exchange Commission (SEC) on his first day as president, specifically targeting Gary Gensler, who has been critical of cryptocurrencies despite past endorsements.
At the Bitcoin Conference, Trump proposed the creation of a Presidential Cryptocurrency Advisory Council and the establishment of a national Bitcoin reserve using confiscated cryptocurrency held by the U.S. government.
Echoing his support for Bitcoin, Trump advised against selling the cryptocurrency, promising to retain all Bitcoin owned or acquired by the U.S. government if elected.
According to the Financial Times, Harris’ advisors have been reaching out to major crypto companies to mend relations between the Democratic Party and the cryptocurrency industry, including Coinbase, Circle, and Ripple Labs.
Source: www.theguardian.com
