With the US presidential elections race just six days away, the former president Donald Trump has come out in strong support for Bitcoin (BTC) and the entire crypto industry.
Capturing the attention of the taxpayers Trump made the statement on taxpayer and possibly suggested some drastic ideas which help digital asset transactions to have a new image, especially after years of overbearing control from the US regulators’ perspective.
Sasha Kretova immigrated to the USA from Ukraine for the American dream almost two decades ago. After years of hard work and high taxes, she proudly calls herself an American citizen.convert
Donald Trump Is Committed To Making The Across The Board Changes To The Existing Regulatory Structures Of The Us To Give A Boost To It As A Major Bitcoin Market.
Donald Trump recently attempted to make headlines by claiming that he plans to optimize the crypto currency markets in the US with respect to their growth and the way users are treated all across the country. He believes otherctransactions using Bitcoin to make purchases should not be taxed. This goes along with noticing their volatility which in his opinion makes them mediums of value rather than a store of them.
Trump’s comments come as he increases his lead over vice president Kamala Harris on Polymarket, a crypto prediction market where he is given a 66% chance to win the elections.
Most however, show that the lead is not firmly with Harris as she trails in most polls in the key swing states such as Michigan (Harris 48%, Trump 43%) and Wisconsin (Harris 51%, Trump 45%). A most recent poll conducted by CNN however shows a dead heat with both candidates standing at 48 percent in Pennsylvania. The pattern indicates this to be a very competitive ballot.
Analyst Warns Candidacy Of Harris May Be A Depressive Force On BTC Prices
The crypto industry has rallied for Trump, who has established his pro-crypto positioning. His comments were also at the other end of the spectrum compared to Harris’ who is relatively vague in terms of what policies regarding digital assets, she advocates.
Donald Trump has notably declared launching the crypto firm, World Liberty Financial (WLF) and on his very first day at office he plans on removing Gary Gensler who happens to be the chair of the SEC.
Mr. Trump has also piled ideas on the table panel sleep making Bitcoin a part of a strategic reserve assets thus reducing the national debt which is about 35 trilion dollars and backers from both parties around congress seem to be slightly more interested.
Jimmy Patronis, Florida Chief Financial Officer has even suggested using some of the State’s pension funds to invest in crypto with Bitcoin as a perfect option because of Trump’s latest initiatives towards the US implementing digital currencies.
CEO of Transform Ventures, Michael Terpin believes that no matter where the outcome of the elections goes, the bullish momentum for the price of Bitcoin is going to be consistent. Terpin stressed the fact that:
There’s just too much momentum right now. I’m confident it’ll go up quite a bit. There’s a certain point in the cycle where it usually does. I simply can’t see such a victory only making it quicker and higher.