As the 2024 election season intensifies, digital asset advocates closely analyze how a potential Donald Trump or Kamala Harris administration might impact cryptocurrency markets, with particular interest in bitcoin. Over the weekend, Microstrategy’s executive chairman Michael Saylor, a prominent BTC supporter, conducted a poll on social media platform X, questioning followers on which presidential candidate would be more favorable for bitcoin.

The poll sparked substantial engagement, garnering over 100K votes, 1.4K comments, 1.8K reposts, 6.2K likes, and an extensive reach of 558K views as of writing. Results indicated a decisive preference for Trump, with 90.9% of respondents supporting him over Harris.

Trump has branded himself as an advocate for cryptocurrency, making several promises to back bitcoin and the broader digital asset industry if he were to secure the presidency. Among these, he has vowed to fire Gary Gensler, the current U.S. Securities and Exchange Commission (SEC) chairman, on his administration’s first day. Trump has also released four non-fungible token (NFT) collections and a crypto project backed by his family recently launched. Harris, on the other hand, has not openly shared her stance on cryptocurrency but supports increased regulatory oversight. The Biden-Harris administration is viewed as anti-crypto, with the SEC, led by Gensler, regulating the industry by enforcement.

The former president’s chances in November have seen increased optimism, with Polymarket showing higher bets on his favorability. Analysts, including Standard Chartered, predict that bitcoin prices could surge if Trump returns to the presidency, with estimates suggesting BTC could reach $73,000 on Election Day.

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