itcoin recently hit a new all-time high of approximately $75,000 at the time of Trump’s projected election victory, and trading volume touched $99.47 billion dollars in only one day. The market capitalization reached more than $1.46 trillion mainly due to reaction of investours to the potential policy shifts that is pro-Cryptocurrencies
National Bitcoin Strategy
Some of Trump’s promises initiatives are to form a strategic national Bitcoin reserve and to add form a presidential council on crypto assets. This is in line with the latest policy proposed by Senator Lummis that wants the US to hold one million bitcoins for the nation’s reserves making the country a global hub for cryptocurrencies.
Regulatory Reform Plans
Furthermore, the plan means firing off the SEC Chair Gary Gensler, halting Federal Reserve CBDC development, and coming up with clear stables coins policy. Donald Trump wants to support people’s rights to own private keys and adopt friendly policies toward cryptocurrencies.
Industry Development
The proposed policies, inherent in the above Bitcoin characteristics, are focused on supporting the mining of bitcoins in the domestic energy industry and the creation of new jobs. Other proposals are as follows: Pardon Ross Ulbricht, and turn the US into the ‘crypto capital of the planet’.
A New Administration Can Mean A New Crypto Policy
Given the Trump administration’s probable control of the House, Senate, and White House nearly all restraints on implementing these broad crypto policy shifts are out of the way, signifying a possible metamorphosis in US digital assets policy.
