$3.36 trillion.
A Golden Era Under Trump?
Donald Trump’s victory in the US elections marks a turning point for the crypto ecosystem, bringing it into the mainstream. The industry firmly believes Trump’s victory and involvement in the crypto space through the World Liberty Financial platform will usher in a golden era. The President-elect has promised to create a strategic Bitcoin stockpile, effectively turning it into a reserve asset. He has appointed Paul Atkins, a pro-crypto businessman to head the Securities and Exchange Commission (SEC) once Gary Gensler steps down.
Bitcoin (BTC) broke above the $100,000 mark for the first time in its history a month after Donald Trump’s victory. The revival in crypto is in stark contrast to the scenario witnessed only a couple of years ago when the FTX collapse triggered a crisis in the crypto space and sent the price of BTC and other assets plummeting, prompting many to scale back their involvement with crypto. A crypto-friendly administration could encourage more inflows into the crypto space and provide greater regulatory clarity.