Former President Donald Trump has pledged his support for Bitcoin and the crypto industry, proposing to eliminate capital gains taxes on BTC transactions used for purchases.
Trump's commitment aims to make the US the 'crypto capital of the world' and is in contrast to Vice President Kamala Harris' more cautious stance on digital assets.
Trump has also launched a crypto venture, World Liberty Financial (WLF), and plans to replace SEC Chair Gary Gensler on his first day in office.
Analysts predict that Bitcoin's price could decline if Harris wins the election, but some believe that regardless of the outcome, the momentum for Bitcoin's price will continue.