2024 Trump Presidency: The Catalyst for a Historic Bitcoin Surge?
- A win for Donald Trump could trigger a Bitcoin rally.
- Trump has openly declared support for Bitcoin and cryptocurrency.
- Crypto stakeholders have openly supported Trump and donated to his campaign.
A Financial Times report suggests that a victory for Donald Trump in the U.S. presidential election could spark a Bitcoin rally in late 2024. The report cited Trump’s public support for the crypto industry and engagement with the technology as potential catalysts for a Bitcoin surge if he wins.
Some crypto investors are backing the former president’s re-election campaign, aligning with his pro-crypto stance. Trump has even dubbed himself the “crypto president” and pledged to support the digital asset industry if re-elected. He claims his election would usher in a new era of crypto in finance.
Bitcoin surged in early 2024 following the approval and launch of several spot Bitcoin ETFs, reaching a new record high of $73,794 in March. Other ETF applications have since followed, including the recently approved Ethereum ETF and pending applications for Solana ETFs.
The optimism surrounding Trump’s potent…
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