Good news! The Republican Party will end the Democrats' illegal and un-American crackdown on cryptocurrencies, and the crypto bull market is ready to start

After the recent market turmoil, Bitcoin rebounded sharply, breaking through $59,000 early on July 10, 2024. This recovery has injected new vitality into the market. According to a document released by the Republican National Committee on Monday, Trump's Republican Party has officially adopted a platform to support cryptocurrency innovation.

The document reads: "The Republican Party will end the Democrats' illegal and un-American crackdown on cryptocurrencies and oppose the creation of central bank digital currencies. We will defend the right to mine Bitcoin and ensure that every American has the right to autonomously manage their digital assets and trade them without government monitoring and control."

In recent years, Trump has gone from being skeptical of cryptocurrencies to firmly supporting them. He also has some personal experience in digital assets and has launched several sets of his own brand of non-fungible tokens (NFTs). Trump's campaign and a related political action committee also accept cryptocurrency donations.

Policy support increases confidence: The new policy platform of the Republican National Committee explicitly supports cryptocurrency innovation and opposes central bank digital currencies. This policy stance may have boosted market confidence in Bitcoin and other cryptocurrencies, prompting investors to buy and hold Bitcoin, thereby driving its price up.

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