On July 16, 2024, former US President Donald Trump officially won the 2024 presidential nomination at the Republican National Convention and announced the selection of J.D. Vance as the vice presidential candidate. This combination is considered by the industry to be a big boon to the cryptocurrency industry, indicating that the US government will adopt a more friendly attitude in the future.
In fact, Vance has always been regarded as a supporter and advocate of cryptocurrency. Not only does he hold Bitcoin in his personal portfolio, he has also publicly expressed support for the launch of a Bitcoin ETF. Moreover, he has publicly criticized the regulatory actions of Gary Gensler of the U.S. Securities and Exchange Commission, saying that overly strict regulation has harmed innovation in the cryptocurrency industry. Therefore, Vance is regarded as a "crypto-friendly" vice presidential candidate.
Vance believes that cryptocurrencies have brought innovation to the economy and financial system and deserve more attention and support. As a Bitcoin holder, Vance is well aware of the importance of cryptocurrencies to investors and businesses. The SEC is currently too conservative and should adopt a more open and friendly attitude. This news has raised expectations for the Trump administration's future attitude towards cryptocurrencies.
In addition, Vance has extensive connections in the Silicon Valley technology circle and is considered to be able to build a bridge between the cryptocurrency industry and the government. As a conservative representative, Vance also has a high influence within the Republican Party. This makes it possible for him to win more policy support for the cryptocurrency industry in the future policy-making process.
Vance's nomination is undoubtedly a boon to the cryptocurrency industry. As Trump's vice presidential candidate, he will play an important role in the future government, striving for more support and preferential policies for the cryptocurrency industry. It is reported that Vance also mentioned in his book that he believes that cryptocurrencies such as Bitcoin have great investment value and will become mainstream investment tools in the future.
At the same time, Trump himself is also considered to have a positive attitude towards cryptocurrencies. In the past campaign, he criticized the US government for its overly strict regulation of cryptocurrencies, and if elected in the future, he will vigorously support cryptocurrencies. The choice of Vance as his deputy this time undoubtedly highlights the importance Trump attaches to cryptocurrencies.
Trump's choice of Vance as his vice presidential candidate also reflects from one side that the attitude towards cryptocurrencies within the Republican Party is undergoing a positive change. The Trump camp hopes to attract more attention and support from young people and technology talents through this choice.
For the cryptocurrency industry, which is currently facing regulatory uncertainty, the coming to power of this combination is undoubtedly a major positive. As a crypto-friendly vice presidential candidate, Vance may promote policies that are more conducive to the development of the crypto industry. President Trump's re-election also means that the Republican Party's dominance in the entire political landscape will help restrain the regulatory pressure on the crypto industry within the Democratic Party.
In this regard, cryptocurrency investors said that the Trump administration will pay more attention to the development of cryptocurrency and may introduce a series of policies conducive to the development of the industry in the future. This also means that in the next few years, the United States will become one of the most friendly cryptocurrency regulatory environments in the world.
It is worth mentioning that Tesla CEO Elon Musk also expressed his support for the combination, saying that Trump's nomination of Vance as the vice presidential candidate is a very exciting thing and that "the horn of victory has sounded."
In addition, there are reports in the market that Musk will donate $45 million per month to Trump's campaign to support this decision. Although Musk subsequently denied the donation rumors, it is not difficult to see that Musk has seen the favorable environment that the new government may bring.
In addition, some analysts believe that the "MAGA VP" (Make America Great Again Vice President, abbreviated as MVP) alliance formed by Trump (MAGA) and Vance (VP) will bring huge benefits to the cryptocurrency market.
MAGA VP ($MVP) token is the first cryptocurrency directly pegged to the Vice President, and is uniquely positioned at the intersection of politics and cryptocurrency, pushing $MVP to the forefront of the political finance sector. In the future, the $MVP price could even soar to $2.2, making it a potentially profitable investment.
However, whether Vance can really promote these policies that are conducive to the development of cryptocurrencies after Trump's election still needs further observation. After all, there are many stakeholders in the political struggle, and whether a consensus can be reached is still unknown.
Overall, Vance's joining has undoubtedly injected a wave of "cryptocurrency" into American politics. In the next four years, we have reason to believe that the cryptocurrency industry will receive more attention and support. Whether in terms of supervision, policy or investment and financing, there may be some positive changes.
However, it should be noted that political factors are only one of many factors that affect the cryptocurrency market. We still need to pay attention to other macroeconomic conditions, industry dynamics and other factors, and carefully assess investment risks. For cryptocurrency investors, it is very important to maintain a rational and prudent attitude.
