- Donald Trump won the U.S. 2024 presidential election as the crypto industry celebrates huge success.
- Better regulatory policies would boost U.S. adoption of cryptocurrency as pro-crypto candidates win larger percentages of Senate seats.
- Bitcoin boom and expectations as crypto analysts believe a repeat of the 2016 rally could be on the horizon.
The potential return of Donald Trump to the White House after winning the 2024 U.S. election by a narrow margin has the world and the crypto industry buzzing with excitement. The global market, including the crypto industry, is bracing for what could be a transformative period.
Trump’s presidency in the past was marked by one of the most explosive crypto bull markets in 2016 as many speculators and analysts believe historical events are aligning and history could repeat itself even far bigger than anticipated.
Here is a look at Donald Trump’s U.S. election win and how this could affect the cryptocurrency industry.
Friendlier Regulatory Framework For Crypto Market
Since his last election as U.S. president, Trump has shown much crypto acceptance and championed a more friendly regulatory approach to digital assets in the U.S. during his campaign.
Donald Trump has stated his plans to make the United States a global leader in the cryptocurrency industry, with a focus on boosting blockchain innovations. His plans would be to create national crypto reserves and support a clear regulatory framework for companies to thrive in the U.S.
Trump’s skepticism of the traditional financial system and criticism of the Federal Reserve gives the cryptocurrency industry an advantage in thriving as traditional finance continues to face much backlash. Investors would turn to digital assets as an attractive alternative, which has gained much support from Trump.
Trump Assures Crypto Industry of Pro-Crypto Regulators
A standout interest to Trump’s administration is that he would appoint pro-crypto leaders and regulatory agencies like the SEC, who would foster innovation and friendly policies that would favor many crypto companies looking to build in the U.S.
This change could end the strict uncertainty past policies have brought to the crypto space in the U.S., as many companies and investors shy away from investing and building in the U.S. due to restrictive policies that have hampered the growth of many companies.
A friendlier regulation would also lead to quick approvals of ETFs, mainstream adoption, and a potential major bull run for Bitcoin and altcoins.
Bitcoin Adoption and Boom
The price of Bitcoin reacted positively to Donald Trump winning the U.S. election, hitting a new record high of $76k. Analysts and speculators believe this is a sign of economic growth and relief for the crypto space as the historical record reviewed Trump’s previous administration drove institutional money into the crypto space.
Donald Trump’s win remains a huge turning point for the crypto space and the U.S. market. It will lead to a mix of pro-crypto policies and protective measures that would favor the industry and fuel much of the growth and adoption the crypto market has longed for.
