Every time Americans go to the polls to elect a new president, the world holds its breath. This is certainly true for both of Donald Trump’s elections to the Oval Office. As a man who is not known for half-measures, the incoming president of the United States of America has promised many changes to the global political and economic landscape.
His return to the presidency has already had huge impacts on global financial markets, including cryptocurrency and betting platforms, such as bet777. Bitcoin and blockchain innovation went through a highly publicized meltdown not so long ago. However, the digital market has been slowly recovering over the last few months, albeit at a much more cautious pace than before.
Many investors were holding back and waiting for the outcome of the US elections. It seems, now that Donald Trump is headed to the White House, investor confidence in digital currencies has been revived. This article will analyze some of the reasons behind this recent surge in Bitcoin trading.
Five Reasons Why Trump’s Win Is Good News for Crypto
One look at how the markets have been performing in the last few months will tell you that Donald Trump’s election as the next US president has been welcomed with open arms by the majority of crypto enthusiasts.
The following are five possible reasons why this historic re-election after losing his bid for a second term in office makes President Trump’s win good news for crypto:
1. Open Support of Digital Currency
Despite being a skeptic for many years, Donald Trump did not shy away from showing his support for digital currency while he was on the campaign trail. He made it a point to speak in glowing terms about the industry, which has led many to believe that he will continue to show his support over the next four years.
If this is the case, many of the legal obstacles that have been hampering the growth of Bitcoin in the last decade could finally be removed. This would pave the way for it to become legal tender across the globe as it has always tried to become.
While in Nashville, Trump attended a Bitcoin conference where he spoke about the possibility of establishing a federal Bitcoin reserve and increasing crypto mining operations in the US. If these plans come to fruition, 2025 could be a new dawn for Bitcoin and blockchain innovation.
2. Better Clarity and Crypto Regulation
One of the things that has always been a pain point for Bitcoin proponents is how many people are reluctant to trust this currency because of a lack of clarity and regulation. This has always been a fine line to walk due to how Bitcoin is designed to be decentralized and, therefore, not meant for such regulation.
However, Trump has pledged to dismantle the so-called “regulation by enforcement” approach from the Securities and Exchange Commission (SEC). He has already made strides in this regard, by the dismissal of the head of the US financial regulator, Gary Gensler, who is set to resign from his position on the day President Trump is inaugurated.
3. Opposition to Central Bank Digital Currency (CBDC)
Due to his concerns with privacy and individual freedoms, it is no surprise that Donald Trump is openly opposing the Central Bank Digital Currency (CBDC). This is another key area in which he is aligned with supporters of Bitcoin and blockchain innovation.
If his influence proves to be enough to change the global stance on this issue, it could mean that many countries will no longer consider opting for a CBDC to oversee cryptocurrency.
4. Positive Impact in the Senate
The 2024 US elections were the first time that Bitcoin had a significant impact on the country’s political landscape. Positive results were seen in the Senate, where hundreds of millions of dollars were spent by digital currency companies to support pro-crypto candidates.
A good example of the impact of such support is the win of Moreno in Ohio. As an avid supporter of crypto agendas, Moreno received massive campaign contributions that allowed him to unseat Democrat Brown, a crypto critic and Chairperson of the Senate Banking Committee.
5. Increased Global Competition
Another factor that could help boost crypto in America is the increase in global competition in this sector. Many countries have begun to implement policies that are targeted at growing their involvement in the digital market, and this is something the incoming president may seek to address.
Part of his plans to “Make America Great Again” must surely include remaining the dominant player in the crypto market. To do this, new policies that create a positive environment for digital currencies will need to be implemented.
How the Crypto Markets Have Responded
It is interesting to note that ever since Donald Trump was announced as the 47th United States President, there has been a lot of growth in the crypto industry. Also, it is not only Bitcoin that has seen a surge in trading. Other digital currencies are doing great as well.
Many popular cryptocurrencies, such as Dogecoin and Ethereum, have also gone up recently. Public support for crypto has also improved, with influential people, such as Elon Musk, CEO of SpaceX, reaffirming his support for Dogecoin.
With the global value of cryptocurrency thought to be close to $3 billion, any growth in this sector could have huge economic and political impacts.
The US Is Already Primed for a Crypto Surge – Is Trump the Final Piece?
Even though crypto investors went through a difficult time during the meltdown, the US has remained the world’s biggest supporter of digital currencies. As such, it already has the infrastructure in place to take advantage of this recent surge in trading in response to Donald Trump being elected president.
Only time will tell what Trump’s election means for ordinary investors, but so far, the outlook is good. There is a positive vibe in the digital marketplace that has been lacking for the last couple of years. If Trump can influence global discussion regarding crypto, this may be the start of a new Era for Bitcoin and blockchain innovation.
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