{"id":451023,"date":"2024-10-31T20:45:13","date_gmt":"2024-10-31T20:45:13","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=451023"},"modified":"2024-10-31T21:00:43","modified_gmt":"2024-10-31T21:00:43","slug":"trump-reaffirms-support-for-bitcoin-on-satoshis-whitepaper-anniversary","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/trump-reaffirms-support-for-bitcoin-on-satoshis-whitepaper-anniversary\/","title":{"rendered":"Trump reaffirms support for Bitcoin on Satoshi’s whitepaper anniversary"},"content":{"rendered":"

Former President Donald Trump<\/a> marked the 16th anniversary of the Bitcoin (BTC<\/a>) 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.<\/p>\n

Trump's post on social media, which also targeted Democratic rival Kamala Harris<\/a>, highlighted his commitment to a crypto-friendly approach and his plan to pardon Silk Road founder Ross Ulbricht.<\/p>\n

He wrote:<\/p>\n

“I would like to wish our great Bitcoiners a Happy 16th Anniversary of Satoshi\u2019s White Paper.”<\/p><\/blockquote>\n

Trump invoked Bitcoin's origins as a decentralized alternative to traditional financial systems, signaling his desire to nurture innovation within the US. He further stated:<\/p>\n

“We will end Kamala's war on crypto, & Bitcoin will be MADE IN THE USA! #Bitcoin #FreeRossDayOne”<\/p><\/blockquote>\n

First published on Oct. 31, 2008, in response to the Lehmann brother's crash, Satoshi Nakamoto's whitepaper proposed Bitcoin as a decentralized, peer-to-peer electronic cash system designed to operate outside of traditional banks.<\/p>\n

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.\u00a0Sixteen years after Nakamoto's whitepaper, Bitcoin has established itself as a groundbreaking asset and a symbol of economic independence for millions.<\/p>\n

Bitcoin and elections<\/h2>\n

Trump's latest acknowledgment of Bitcoin and its pseudonymous founder, Satoshi Nakamoto, further cements him as the preferred candidate for many Americans who care about crypto.<\/p>\n

The former President has positioned himself as a Bitcoin ally<\/a>, promising to curb the government's sale of BTC and to dismiss SEC Chair Gary Gensler, whose tenure included high-profile enforcement actions against crypto firms.<\/p>\n

In contrast, Vice President Harris has advocated for a balanced approach, promoting technology development while committing to investor protections within the digital asset space.<\/p>\n

Her supporters believe her policies ensure safety for investors in the still-maturing asset class, while Trump's backers view his pro-crypto stance as essential for US tech leadership.<\/p>\n

Republican sweep<\/h2>\n

Many in the industry believe that a Trump victory, combined with a Republican-controlled Congress, could be highly bullish for Bitcoin<\/a>.\u00a0Experts project that such an outcome might lead to rapid pro-crypto regulatory reforms, providing a favorable environment for digital assets.<\/p>\n

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.<\/p>\n

The forecast reflects the expectation that a Republican-led government would implement policies supportive of the crypto industry, creating strong tailwinds<\/a> for Bitcoin's price growth.<\/p>\n

As the US approaches Election Day, Bitcoin advocates face a defining moment, with many confident that Bitcoin's decentralized design and global appeal will endure regardless of political outcomes.<\/p>\n","protected":false},"excerpt":{"rendered":"

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