Trump's election has created a real opportunity for the golden age of cryptocurrency. People believe that all repressed demand may be unleashed, turning the US from a laggard in the crypto industry into a leader.
On November 6, Trump won the US election. Due to the Trump effect, Bitcoin has repeatedly set historical highs, and yesterday it even broke through to $76,900, heading towards $78,000. Altcoins have also seen a long-awaited surge.
Positive news before the crypto president takes office: Inauguration on January 20.
On November 7, the Federal Reserve's monetary policy committee announced a 25 basis point rate cut. According to the Federal Reserve observation, the probability of a 25 basis point rate cut in December is 71%.
The largest political action committee in the crypto industry supported all 48 candidates in the 2024 US elections, all of whom won.
In the 2024 US elections, Republican candidates Jeff and Scott Perry defeated their Democratic opponents in Colorado's 3rd congressional district and Pennsylvania's 10th congressional district, respectively, narrowing the gap for the Republicans to maintain a majority in the House of Representatives. It is said that the next Congress will be the 'lightest in cryptocurrency history.'
Bloomberg Analyst: The total holdings of Bitcoin spot ETFs in the US have surpassed the BTC holdings of Satoshi Nakamoto by 93%.
BlackRock's spot Bitcoin ETF surpasses gold ETFs, with Bitcoin trusts reaching $33.1 billion.
MicroStrategy plans to raise $42 billion in the next three years to expand its Bitcoin holdings and plans to invest $10 billion next year to purchase Bitcoin.
So far, we have seen more and more countries, institutions, asset management companies, top billionaires, corporations, and individuals supporting Bitcoin and showing great interest in it, while strategically building positions. For example: BlackRock, Fidelity, VanEck, Microsoft, several billionaires, celebrities, and countless other supporters from various sectors of the cryptocurrency industry. (This year, 1,179 institutions have begun investing in BTC, with asset management companies holding 193,000 BTC.)
Bitcoin payments are being applied to more real-world scenarios, such as the city of Detroit accepting cryptocurrency payments for taxes and city fees.
Paradigm's policy research director: Former Biden White House staffer says Democrats will no longer fight cryptocurrencies to the end.
CCTV Finance reports: Bitcoin price breaks historical highs, and Trump has promised to establish a Bitcoin strategic reserve.
Matrixport's weekly report shows that Bitcoin's adoption rate is nearing the critical 8% threshold, with approximately 750 million, or about 617 million people globally using cryptocurrencies, close to an 8% adoption rate. Reaching this threshold may mark a turning point for Bitcoin towards mainstream application.
Stablecoin and market structure bills may achieve faster progress, benefiting stablecoin issuers like Circle and Paxos, as well as cryptocurrency exchanges and economic traders/dealers in the US.
Trump's trade policies have created uncertainty, which enhances Bitcoin's appeal as a stable asset.
The crypto president's commitment to cryptocurrency: Unknown variables!!! Will it become a reality!!!
Bitcoin as a reserve: Establish Bitcoin reserves as a national strategic asset.
Oppose CBDC: Ban the creation of central bank digital currencies (CBDC).
Make America the 'crypto capital': Position the US as the global leader in cryptocurrency.
Using Bitcoin to pay off debts: Suggest using Bitcoin to reduce US national debt.
End the 'crackdown on cryptocurrency': Stop regulatory pressure on the cryptocurrency industry.
Protect Bitcoin mining and self-custody: Ensure Americans' rights to mine and self-custody cryptocurrencies.
Fire Gary Gensler: If re-elected, he will replace the SEC chairman.
Create a regulatory committee to support cryptocurrency: Establish a committee to draft supportive regulations.
Bring Ross Ulbricht home: Reduce the sentence for Silk Road founder Ross Ulbricht.
Support Bitcoin 'Made in America' policy: Encourage the dominance of Bitcoin mining within the US and abolish the capital gains tax on Bitcoin.
The US will not sell any Bitcoin and will retain the 23,650 Bitcoins currently held by the US government.
Although the above commitments are unknown, if just one or two of them are fulfilled, it will be a positive for the crypto market. We are looking forward to whether the crypto president's promises can be realized?
The greatest expectation for Trump: Through the (Bitcoin Act), the bill will greatly promote the development of the cryptocurrency industry.
Crypto market news:
Bitcoin's open contracts have soared to $46.59 billion.
Flare and Red Date Technology will conduct two KYC pilot programs to support mainland residents in purchasing stablecoins in Hong Kong. The first trial will allow anonymous registration on regulated stablecoin applications, while the second trial will facilitate the use of stablecoins to purchase tokenized financial products. The trials will use China's real-name decentralized identity verification system for anonymous registration. In December last year, the blockchain-based identity verification system was launched in China, supported by the blockchain service network operated by Red Date Technology and the Ministry of Public Security's First Research Institute.
Solana's market capitalization reaches 3.81% of the cryptocurrency market, a historic high.
South Korean regulators plan to strengthen market monitoring of stock and cryptocurrency volatility related to Trump.
Tonhub launches a VISA debit card, allowing users to pay directly with TON or USDT balances.
Russian President Putin stated that he does not wish to reunite with 'partner' Donald Trump to overthrow the dollar.
