Bitcoin’s Future Under President-Elect Donald Trump: A Look At His Crypto Policies
Donald Trump has been elected as the 47th President of the United States, defeating his Democratic opponent Kamala Harris.
Trump’s victory propelled Bitcoin (CRYPTO: BTC) to a new all time high of $75,358 on Wednesday morning, driven by market excitement over the election outcome and expectations for a more favorable cryptocurrency policy under the new administration.
Ethereum (CRYPTO: ETH) followed with a 7.5% increase, while the overall crypto market cap rose by 5.7% to $2.3 trillion.
Trump’s victory brings renewed focus to his stance on cryptocurrency, which has evolved significantly in recent years.
Trump and Vice President Harris have outlined differing approaches to digital asset regulation, creating anticipation around how the winner will influence the industry.
Trump’s Pro-Crypto Turnaround
Donald Trump has shifted from skepticism to vocal support for the crypto industry.
In the past, he criticized cryptocurrencies, questioning their value and stability.
However, in the run-up to the 2024 election, Trump positioned himself as a staunch supporter of the cryptocurrency industry.
He often mentioned his ambition to make the United States a leader in crypto innovation, frequently promising to establish the U.S. as the “crypto capital of the planet.”
In one high-profile campaign stop, he …
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