Former United States President Donald Trump wished Bitcoiners a great anniversary, marking Satoshi Nakamoto’s Whitepaper. This comes in the run-up to the US Presidential election, which is projected to change the dynamics of crypto assets in the country. Crypto users laud the asset’s past growth and developments, aiming to achieve Satoshi’s vision.
Trump To End War on Crypto
The Republican Presidential candidate has leaned toward the digital asset industry throughout the campaign pledging to back Bitcoin. This marked a change to his earlier position on the market. At the last Bitcoin Conference, Trump rolled out several pro-industry initiatives including the halt on U.S. Government Bitcoin sale creating a strategic reserve in the process.
Trump and other Republicans also noted that they would end attempts towards the creation of Central Bank Digital Currency (CBDC) in the United States. This remains an issue with crypto enthusiasts stressing on privacy concerns and government control on citizen spending through programmable money. In a nutshell, crypto users view CBDC as anti-crypto and an attempt to lower asset adoption.
The Biden administration has remained hostile to crypto assets, with the Securities and Exchange Commission (SEC) filing multiple lawsuits due to unclear regulations. Trump has vowed to end the war on the market and usher in clear rules.
“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,” he tweeted.
Bitcoin: A Trillion Dollar Asset
After sixteen years, Bitcoin has soared to a global sensation characterized by its fast adoption and soaring value. This year, Bitcoin tapped a new all-time high above $73,000 and came close to that position this month. The asset is the 10th largest asset, currently worth $1.4 trillion. The adoption of the crypto market leader also opened the way for other digital assets in the space.
Notable, Bitcoin’s rise is hinged on utility and institutional investment. Several enthusiasts view it as a store of value and a hedge against inflation. As macroeconomic conditions bite harder, financial consumers move to Bitcoin to retain their wealth, earning it the term “digital gold.” The approval of spot Bitcoin ETFs in January increased investor appetite in the market, opening up a new window to firms most of which were traditionally hostile.