Bitcoin Surges 3% to Reach 6-Week High as Trump Vows to Make US Crypto Leader

Bitcoin's price rose over 3% to hit its highest level in more than six weeks after Donald Trump backed cryptocurrency at a conference over the weekend. Trump said that if elected, he would make the US the world's cryptocurrency leader and end the "persecution" of the crypto industry. Kamala Harris' advisers have reportedly contacted major crypto companies to "reset" the Democratic Party's relationship with the industry. Trump's comments come as the SEC has ramped up crypto-related enforcement actions, and Gensler has called bitcoin "speculative" and used for illegal activities.