The crypto community is celebrating Donald Trump‘s victory in the 2024 United States presidential election, as election results are being finalized. Although Trump was not always a proponent of cryptocurrency, he was widely regarded this year as the pro-crypto candidate.

As the Republican candidate, Trump announced his victory on November 6, promising a “golden age” for the United States. During his speech, he expressed his enthusiasm about being both the 45th and 47th president of the country.

With 277 electoral votes, Trump had surpassed the required 270, while his Democratic opponent, Kamala Harris, held 224 votes with no path to victory. Leaders worldwide, including French President Emmanuel Macron, congratulated Trump on his anticipated win, and the crypto market responded swiftly.

What Trump‘s victory means for the crypto market

This victory is viewed as highly promising by many in the crypto sector. Trump has repeatedly expressed a positive stance on crypto and aims to reduce regulations that restrict its free use. His vision is for the US to become the global hub for crypto.

Trump‘s promise to the American crypto community

Earlier this year, Trump spoke at the Bitcoin 2024 conference in Nashville, where he announced plans, upon taking office, to replace the current chair of the US Securities and Exchange Commission (SEC). He considered appointing Hester Peirce, known for her pro-crypto stance, to further support the industry.

How the crypto industry is responding to Trump‘s presidency

Trump also announced plans for a strategic Bitcoin reserve for the US government. His goal is for the US to hold 200,000 BTC, acquired through enforcement actions, to establish a significant position in the crypto market. Trump has expressed strong support for American crypto miners, aiming to make the US a world leader in Bitcoin mining.

Crypto optimism in the United States after the 2024 election

With Trump‘s victory, Dennis Porter, co-founder of the Satoshi Action Fund, declared that the “anti-Bitcoin movement” in the US had ended. He cited the US as a leading nation in Bitcoin support. This optimism spurred a record-breaking Bitcoin rally, with its value surpassing historical levels and briefly reaching $75,000.

Why Trump‘s policies could strengthen the US Bitcoin Industry

Trump‘s pro-crypto vision has also garnered support from key industry figures, including founders of major crypto exchanges and well-known names such as Charles Hoskinson and Charlie Shrem, who have all publicly backed his pro-crypto agenda.

The impact of Trump‘s pro Bitcoin stance on the crypto market

With these developments, the crypto market seems poised for new heights. The total market value of cryptocurrencies continues to grow, currently standing at approximately $2.6 billion.