As a seasoned crypto investor with a decade of experience under my belt, I can’t help but feel a mix of anticipation and amusement as the U.S. elections approach. The crypto space has always thrived on innovation and disruption, and the political rhetoric surrounding Bitcoin is no exception.
16 years after Bitcoin‘s birth, the ex-President of the United States, Donald Trump, renewed his commitment to halt the federal government’s efforts aimed at restricting cryptocurrencies.
Trump’s statement to Bitcoin enthusiasts in the United States, marking the anniversary of the publication of Bitcoin’s whitepaper by its founder Satoshi Nakamoto, contained a subtle dig at his political adversary Vice President Kamala Harris.
Previously elected leader and present GOP nominee declared his intention to put an end to the anti-cryptocurrency struggle and foster Bitcoin development within the U.S. Furthermore, he expressed his desire to grant clemency to Ross Ulbricht, currently incarcerated for life in connection with Silk Road.
I would like to wish our great Bitcoiners a Happy 16th Anniversary of Satoshi’s White Paper. We will end Kamala’s war on crypto, & Bitcoin will be MADE IN THE USA! VOTE TRUMP! #Bitcoin #FreeRossDayOne
— Donald J. Trump (@realDonaldTrump) October 31, 2024
As a passionate crypto investor, I found myself closely following Trump’s Bitcoin rhetoric in the lead-up to the U.S. elections on November 5th. For months, he had been courting supporters of digital currencies like Bitcoin, promising an end to government Bitcoin sales and expressing his intention to dismiss SEC chair Gary Gensler. This potential shift in government stance towards cryptocurrencies sparked excitement among many investors like myself, as we looked forward to the future implications for the crypto market.
Conversely, Harris voiced his approval for advancements in technology, particularly AI, and pledged to safeguard investments in digital assets.
In recent times, both adoption and price of Bitcoin have been on an upward trajectory. As the U.S. election approached, some advocates predicted that Bitcoin would thrive irrespective of the outcome. Now, sixteen years after Satoshi Nakamoto’s whitepaper was published, Bitcoin stands as one of the top-performing assets over the past decade. This year alone, its value has risen by 192%, while the S&P 500 has only seen a 36% increase.
Business entities such as MicroStrategy led by Michael Saylor hastened to acquire additional Bitcoin through capital increases. Moreover, exchange-traded funds specializing in Spot BTC on Wall Street made history when BlackRock’s fund became the swiftest growing ETF. Remarkably, investors channeled over $72 billion into Bitcoin investment products.
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2024-10-31 21:31