Trump Says He’ll Make America the “Crypto and Bitcoin Capital of the World,” Price Fails to React

• Donald Trump plans to ease crypto regulations and make America the world capital of digital assets like Bitcoin.
• Kamala Harris’ campaign is now accepting crypto donations, according to Fortune.
• Fred Krueger analyzed the impact of the presidential election on the future of Bitcoin.

Bitcoin (BTC) fell 3% on Thursday despite positive sentiment surrounding Republican presidential candidate Donald Trump’s plans to make America the crypto capital of the world.

Trump declares plans for crypto if elected, Harris moves

As the November election approaches, candidates are taking more and more actions that emphasize the role of crypto voters in the upcoming election.

In a speech at the Economic Club New York, Republican presidential candidate Donald Trump reiterated that he will support the crypto industry if elected in the upcoming November election.

“Instead of attacking the industries of the future, we will embrace them, including making America the crypto and Bitcoin capital of the world,” Trump said.

Trump has been trying to woo crypto voters over the past few months through a variety of efforts that involve accepting crypto donations, interacting with prominent crypto figures, dedicating a section of the 2024 GOP platform to crypto, and even attending key crypto events like Bitcoin . conference in Nashville.

While many awaited Democratic presidential candidate Kamala Harris’ stance on crypto, Fortune reported that Coinbase’s CFO confirmed that the vice president’s campaign has begun accepting crypto donations through the exchange.

Despite the news, Trump leads Kamala by 7% on the Polymarket crypto prediction market. Kamala previously took the lead for most of August, but as the election nears, crypto players seem to be favoring a Trump victory.

Bitcoin investor Fred Krueger analyzed the election’s impact on Bitcoin, stating that “what is at stake is not the price of Bitcoin, but its integration into the American financial system.” He also shared a similar sentiment with most crypto investors who hedge their crypto positions with a bet on the presidential election through Polymarket.

Bitcoin is down more than 3% in the last 24 hours despite Trump’s positive speech. According to popular trader Peter Brandt, Bitcoin is trading in an expanding inverted triangle and needs to set a new all-time high to get the bull market back on track.