Until President Biden dropped out of the contest in July, it seemed like Trump was the clear favorite within the crypto community. In the aftermath of the failed assassination strive on July 12th, bitcoin jumped from $56,000 to $65,000, on the back of expectations that the former president would advance from the incident. Trump’s view on crypto seems to have changed over the years. As president, he voiced skepticism all about crypto, claiming that they could be used to facilitate illegal activities such as drug trafficking. He also mentioned at one headland that he sees bitcoin as a currency competing against the dollar. In more recent times however, he wholeheartedly comprehended crypto, pledging that he wants the U.S. to become a “bitcoin superpower” and the “crypto capital of the planet” under his leadership. His throw has started accepting bitcoin donations. He also mentioned that he would replace SEC Commission Chair Gary Gensler, a notoriously loathed figure among crypto proponents. This pivot seems to have worked. Most of the crypto community is purportedly rallying behind Trump.
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