Former President Donald Trump has endorsed Bitcoin mining in the US, aiming to position the country as a leader in the industry.

Trump's endorsement on Truth Social has sparked a surge in stock prices for mining firms like TeraWulf and Hut 8 Mining.

He promises to protect Bitcoin from regulation and prevent the creation of a central bank digital currency.

Current President Joe Biden's campaign is considering accepting cryptocurrency donations through Coinbase Commerce to attract pro-crypto donors and voters.

The crypto industry has raised over $100 million to influence the election, with candidates from both parties focusing on attracting wealthy donors from the industry.

The upcoming election is expected to feature debates on cryptocurrency regulation policies, with a significant portion of the adult population involved in crypto.

Despite Trump's strategic move, President Biden still maintains a wider advantage among likely voters.

The market anticipates potential growth but may face volatility following debates between the two candidates.

TipRanks' technical analysis tool suggests a positive outlook for Bitcoin, making it a favorable investment opportunity.