Second Term of Donald Trump Begins: Bitcoin Crosses $109K Mark

Donald Trump is now the 47th US President and the crypto industry is tremendously happy about it. Hours before the incident, Bitcoin surged to an all-time high. The value of the cryptocurrency rose overnight to over $109K. Even before the inauguration on 20th January, Bitcoin gained enormous momentum last week. Overall, the crypto industry is anticipating many positive developments after he assumed office. Experts and analysts believe that his regime will turn the US into a global hub of cryptocurrency innovation. This will have positive implications for those who wish to start a business with no money or create a free white-label cryptocurrency exchange.

Donald Trump’s Presidency And the Growth of The Crypto Industry

Donald Trump’s Presidency is going to turn the fortunes of the crypto industry. The pro-crypto approach and policies can encourage users to adopt Bitcoin and other high-yielding cryptocurrencies. Here are some indications that the industry will witness landmark reforms and policy changes that will catapult the US as the world’s stronghold of cryptocurrencies.

• Major Appointments

Donald Trump is showing keen interest in cryptocurrencies. He has nominated Paul Atkins to serve as the chairman of the SEC. Atkins is widely known for his pro-crypto stance and is considered a good substitute for Gensler. Several crypto users are now relieved that Gensler will no longer cause roadblocks for the industry. Therefore, Paul Atkins favors regulatory frameworks that back innovative financial products and also support safeguarding the interests of investors. 

The intentions of Trump are clear as he has appointed David Sacks. David will play a major role in framing the crypto policies of the regime. He has expertise in AI and cryptocurrencies and is also an entrepreneur. By including him in his team, Trump seems to be serious about real and tangible innovations in the cryptocurrency industry. 

• National Bitcoin Stockpile

Donald Trump wants to create a national Bitcoin stockpile. Currently, the US Federal government holds over $20 billion worth of Bitcoin during crackdowns on illegal crypto users. The price of Bitcoin ever since November 2024 is surging and has frequently crossed over $100,000. This can lead to a strategic shift in how the government perceives cryptocurrencies. Bitcoin has witnessed huge growth in 2024 and its value may even double. In light of the growing inflation and debt crisis that America is facing, this idea can pave the way for a proper solution. However, there are some challenges as the current crypto regulations remain ambiguous. Hence, once the regulations become clearer, the challenges will reduce. 

• Liberalization of Crypto Regulations

Trump has promised to steadily change the entire regulatory crypto landscape. He perceives the current laws and regulations as responsible for stifling innovation and dissuading investors from investing or trading in cryptocurrencies. Therefore, if he fulfills his promise of liberalizing, then it will surely revolutionize the cryptocurrency industry.

Bottom Line

The surge in the value of Bitcoin is a positive development for the cryptocurrency market. Under the current regime of Donald Trump, cryptocurrencies are gaining mainstream acceptance. This is why people are buying and investing in Bitcoin. Hence, if his regime allows research and development of blockchain technology, then many people can become aware of the basics of cryptocurrencies and how they function. Therefore, awareness levels will increase further. By accepting ETFs, many risk-averse investors now have an option to invest in Bitcoin without directly owning them. As Trump promises a “golden age” for the US, it could well turn out to be a “golden phase” for the crypto industry.