- Donald Trump’s election win has significantly boosted the digital assets sector, with Bitcoin and altcoins like XRP and Dogecoin surging in value.
- Trump’s pro-crypto stance and the assembly of a pro-Bitcoin cabinet have fueled investor optimism.
- Potential regulatory changes under Trump’s administration could further propel the crypto market in 2025.
Donald Trump’s Presidential election win has caused a complete revamp of the digital assets sector, with many assets like Bitcoin reaching their all-time highest prices, while other altcoins like XRP and Dogecoin became fan favorites, gaining up to 200% in value since November 5th.
During the campaign, Trump weighed in heavily on his pro-crypto stance. Ultimately this led to the vast majority of investors picking the Republican as the more ‘crypto-friendly’ candidate out of the two. This development was especially significant given that 2024 marked the election where cryptocurrencies became more significant than ever from a voter’s point of view.
And now, as Trump prepares to take office in January, some are wondering if the Republican will continue to endorse digital assets once he becomes President.
In a recent interview with Fox Business, Republican Senator Cynthia Lummis spoke on the next government’s plans for digital assets, claiming that Trump is building an army to fight for Bitcoin.
“He seems to be assembling a very pro-Bitcoin cabinet,” Lummis said. “Not only just Bitcoin but other digital assets, and the opportunities for blockchain.”
The Senator’s message in her interview directly aligns with recent reports regarding the team around Donald Trump’s White House cabinet. Members like Elon Musk, longtime BTC supporter Robert Kennedy, crypto-advocate Howard Lutnick as Commerce Secretary, and “Crypto Dad” Chris Giancarlo are all pro-crypto members who are — or will be confirmed at Trump´s cabinet.
In truth, this is likely the reason why crypto has been trading so well since Trump’s victory. Expectations of a Federal Government that doesn’t oppose digital assets as much as the former give investors a sense that digital assets will become more free to trade, without negative pressure from regulating bodies.
This is especially significant in the Securities and Exchange Commission, where Gary Gensler’s substitute could completely change the way the commission and crypto firms do business, and could become 2025’s propelling force for the continuation of a bull run.
