Donald Trump Becomes the 47th U.S. President - A Win for Crypto!

Donald Trump has been voted in as the 47th U.S president. With 295 electoral votes against Kamara Harris' 226 votes, the Republican party took the lead making Trump the second president reelected to Presidency in non-consecutive terms. A Trump win is great news for the crypto community as Trumps administration is gearing towards Implementing policies and regulations that will see crypto become more mainstream globally.

The Republicans are now in control of the senate turning the tide of control of the upper chamber. With a Republican majority in the senate, there will be a significant impact on the cryptocurrency landscape due to Trumps crypto-friendly policies which aim to ‘make America great again.’ After confirmation of the Trump Win, there was a bullish surge in all cryptocurrency assets and ETFs with Bitcoin anticipated to hit a new all-time high of $80,000.

Meena Ganesan notes that Trumps policies and regulations are in favor of the cryptocurrency landscape which Illustrates a great shift from Trump’s initial criticisms of the cryptocurrency industry in 2019. The Trump’s campaign has even been accepting Bitcoin donations with his vision bending towards making the U.S the “crypto capital of the world”.

Steve Shepard notes that under the Republican administration, cryptocurrency ETFs such as those for altcoins like Solana might receive tremendous support. Trumps deregulation of the cryptocurrency landscape with a possibility of an appointment of a SEC commission whose perspective on cryptocurrency is friendly promises an inevitable ease on regulatory barriers currently facing cryptocurrencies. The SEC has approved some Etherium ETFs but with Trump as the 47th United States president, cryptocurrency investors and enthusiasts are optimistic that he will pave the way for other Altcoin ETFs such as Solana, potentially raking in more institutional investment.

Additionally, Trump’s economic policies on deregulation and reduced interest rates are likely to drive more capital into the cryptocurrency markets as investors seek returns outside the traditional finance.

In conclusion, Trump's presidency will foster a more open regulatory environment for cryptocurrencies, supporting innovation and possibly driving up market activity. However, the extent of these changes will depend on how quickly and decisively any new policies are implemented.