The Crypto Boom Year in the United States with Trump’s Reelection

The Crypto Lobby: A Record in Investments

During the 2024 election campaign, the crypto industry broke records in lobby funding, spending over $133 million supporting pro-crypto candidates. This effort resulted in strategic victories in key states, such as Ohio, where pro-crypto Republican Bernie Moreno defeated the skeptical Sherrod Brown, chairman of the Senate Banking Committee. This removes a significant obstacle in Congress for the adoption of favorable regulations.

Kristin Smith, CEO of the Blockchain Association, stated that “2024 marked a turning point” for the industry in Washington, with an increasingly committed pro-crypto electorate. This mobilization is not only explained by the financial growth of the sector but also by a greater public and political awareness of cryptocurrencies.

Bitcoin Price Surge Driven by Trump’s Victory

The cryptocurrency market reacted positively to Trump’s victory, who during the campaign committed to deregulating the industry and turning the United States into “the capital of cryptocurrencies.” Bitcoin reached a new record of $86,000 after the elections, and other cryptocurrencies like Ethereum and Dogecoin also saw significant increases. Russ Mould, investment director at AJ Bell, mentioned that “the market is now speculating on when, not if, Bitcoin will surpass $100,000.”

The creation of a “strategic Bitcoin reserve” by Trump, through his family company, World Liberty Financial, has given the cryptocurrency a new level of political backing, attracting even more investors and increasing confidence in its growth.

Persistent Challenges and Investment Risks Despite

the enthusiasm, experts continue to warn about the inherent volatility of cryptocurrencies. Susannah Streeter, director of money and markets at Hargreaves Lansdown, stated that investors should be aware of the risks and only use funds they are willing to lose. Basic risks include the lack of government backing, the irreversibility of payments, and the public exposure of transactions on the blockchain.

Moreover, the image of cryptocurrencies remains a concern for major industry players. Following the collapse of FTX in 2022, the sector’s reputation was severely damaged. The industry uses political lobbying to repair this image, seeking representation and clear regulations that strengthen public confidence.

The Promise of Deregulation and an Optimistic Future

Trump has promised “light regulation” that, according to experts like Brian Armstrong, CEO of Coinbase, would be ideal for boosting innovation without stifling the growth of the industry. Armstrong celebrated the victory of pro-crypto candidates and expressed optimism about working with the new Congress to establish clear rules for digital assets.

With a more favorable political environment and an organized industry, 2024 is shaping up as the year the United States could become the epicenter of cryptocurrency innovation. The combination of a rising market and a government committed to the sector’s growth presents a unique opportunity for investors and businesses interested in the development of the digital economy.

Conclusion: The support of the president-elect and changes in Congress open a promising chapter for cryptocurrencies in the United States. As the industry coordinates and strengthens politically, the future of cryptocurrencies looks brighter and more accessible. However, investors should remain cautious and aware of the inherent risks, as the path to mass adoption and clear regulation is just beginning.

Seize this Opportunity with Futswap:

With the backing and expansion of cryptocurrencies in the United States, platforms like Futswap become essential tools to take advantage of this new growth environment. Futswap allows users to store, buy, sell, and exchange digital assets simply and securely from a single app. Additionally, with the Futcard, digital assets can be converted into real purchases anywhere in the world, making the adoption of cryptocurrencies more accessible in everyday life.

As the market transforms and opens new opportunities, Futswap enables its users to access and manage their digital assets intuitively, securely, and efficiently. Thus, both new and experienced investors can capitalize on the potential of the crypto economy and stay up-to-date in a constantly changing sector.

Explore the future of digital assets with Futswap and take the next step in your digital finances.