From NASDAQ Inc.: 2024-06-12 12:22:16

Former President Donald Trump has endorsed Bitcoin on social media platform Truth Social, advocating for all Bitcoin mining to be done in the U.S. He believes this will help the U.S. achieve “energy dominance” and protect against central bank digital currencies. Trump has shown consistent support for Bitcoin in the 2024 election, promising to keep it free from regulation.

The crypto industry has raised over $100 million to influence the election, with firms like Ripple and Coinbase making major contributions. President Biden’s stance on cryptocurrencies, as highlighted by SEC Chairman Gary Gensler and Senator Elizabeth Warren, has drawn criticism from the crypto community.

TipRanks’ technical analysis tool indicates a positive outlook for Bitcoin, with 10 Bullish indicators, five Neutral, and seven Bearish indicators. This suggests that Bitcoin may be a good investment opportunity, according to the analysis provided.

Read more at Nasdaq: Donald Trump: All Bitcoin Mining Should Be Done in the U.S.