Trump’s Victory: The Potential Impact on Crypto Explained
Let’s revisit his key campaign promises to evaluate their potential impact on the crypto industry. In his election campaign, Trump pledged a series of important measures for the crypto community. Many of these were articulated at Bitcoin 2024 Conference
Creating a National $BTC Reserve
Among Trump’s boldest campaign promises is the establishment of a U.S. strategic Bitcoin reserve. He pledged that his administration would retain all seized Bitcoin—currently around 210,000 BTC—to serve as a national reserve. “If I am elected, it will be the policy of my administration to keep 100% of all the Bitcoin the U.S. government currently holds or acquires into the future”. This initiative would position the U.S. as a global leader in digital currency reserves.
No Room for CBDCs
Trump firmly opposes central bank digital currencies (CBDCs). His stance resonates with those in the crypto community who worry CBDCs could threaten privacy by expanding government control. By rejecting CBDCs, Trump’s vision aligns with those who see decentralized crypto as essential for privacy and freedom.
Boosting BTC Mining in America
Trump also promised to expand Bitcoin mining domestically, envisioning a future where all new BTC is mined within the U.S. This effort aims to reduce reliance on foreign mining power, particularly in China. While details remain unclear, the initiative reflects Trump’s commitment to strengthening the U.S. crypto sector. Industry figures, like Jan3’s Samson Mow, see this as a positive step for crypto independence.
A Pro-Crypto Political Movement
He aims to form a Bitcoin council to work with Congress on pro-crypto legislation and announced intentions to replace SEC Chair Gary Gensler. This political shift could foster a more supportive environment for digital assets, fueling growth and innovation in the U.S. crypto space.
source: https://www.gncrypto.news/news/trumps-victory-the-impact-on-crypto-explained/
