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The 2024 election, dubbed the “Bitcoin Election,” is heavily influenced by rising US crypto users. Trump gains crypto support, including donations from the Winklevoss twins, while Biden faces criticism. As the United States steadily embraces cryptocurrencies, its citizens are increasingly seeking leaders who support this emerging sector. According to Statista, the number of crypto users in the US has skyrocketed from 4.94 million in 2017 to 87.77 million by 2024. Source: Statista This surge is not only reshaping economic landscapes but also influencing the upcoming election cycle. In fact, a recent survey conducted by Harris Poll on behalf of Grayscale has labeled the 2024 presidential election as the “Bitcoin Election,” underscoring how digital assets influence political agendas. Trump vs. Biden Despite crypto’s significant role in the upcoming election, the two presidential candidates are divided on their approach towards crypto. While former President Donald Trump has publicly favored crypto in multiple instances, President Joe Biden seems to have an anti-crypto stance.  Shedding light on the same, Marathon Digital Holdings CEO Fred Thiel in a recent conversation with Yahoo Finance said,  “Former President Trump has obviously positioned himself as the candidate that is pro-bitcoin. He believes that all bitcoin should be mined in the US and has been very open in his relationships with bitcoin miners and people in the space.”  While commenting on Biden’s administration he noted,  “The Biden administration has been very hostile to bitcoin, through its various agencies, whether is the banking or the so-called ‘Operation Choke Point 2.0’, whether it’s the SEC, etc.”  Further in the conversation he highlighted various ways by which the Biden administration is trying to curb the crypto industry.  Echoing Thiel’s sentiments, Billionaire entrepreneur Mark Cuban also shared concerns about President Biden’s electoral prospects. He criticized SEC Chair Gary Gensler, warning that regulatory hurdles…

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Filed under: News - @ June 27, 2024 7:26 am