Trump's political shift, the cryptocurrency boom has risen by trillions
US regulation once caused a big setback for cryptocurrencies, but the situation changed drastically after Trump took office. The crypto industry has soared all the way, with a market value approaching $1 trillion. This election not only shook the political circle, but also brought unexpected wealth to cryptocurrency tycoons and companies.
Trump has many die-hard supporters, and bigwigs such as Microstrategy hold $44 billion in Bitcoin. Elon Musk spent $200 million to support Trump, and his net worth soared by $70 billion after the election, with an amazing return rate of 34,900%!
2024 ended well, and we also look forward to the crypto industry taking a step forward in 2025.
Coinbase took off after the election
Brian Armstrong has made a lot of money from this election. Coinbase's market value soared by $21 billion, and his shares also rose by nearly $2 billion, now worth $6.4 billion. He also took the opportunity to sell some stocks and made $129 million. Coinbase also invested heavily in politics, donating $74 million, of which $25 million went to the super PAC Fairshake, hoping to gain some benefits through politics.
Armstrong explained that the purpose of selling stocks was to diversify his investments, and he still held a lot of Coinbase stocks.
Ripple's XRP and Garlinghouse's wealth surged
Ripple's Brad Garlinghouse also made a fortune. The price of XRP rose from $0.5 to $2.32, and its market value directly rushed into the top three digital assets, rising 54.7% in one month. Ripple also donated $73 million to political causes this year. Garlinghouse's personal wealth soared, and his XRP quadrupled. His shares in Ripple are estimated to be 6%, and with the undisclosed XRP assets, he is now one of the richest billionaires in the United States.
What is the prospect of Bitcoin?
The market has been volatile recently, and it is a bit difficult for Bitcoin to reach $100,000. However, Bitcoin still rose 43% after the election, and its market value increased by nearly $600 billion. Now Bitcoin has fallen a bit, trading at $98,000. This year's increase has traders wondering whether to hold, buy or sell in the next few weeks?
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