Crypto Community Celebrates Trump's Election Victory
Coin Engineer - The crypto community is celebrating the victory of former President Donald Trump in the 2024 United States presidential elections. Although the election results have not yet been finalized, Trump declared victory on election night as the Republican candidate and promised a "golden age" for America.
“I’m excited to be your 47th president and your 45th president,” Trump stated. As of the time this was written, according to Associated Press, Trump has secured 277 electoral votes, surpassing the 270 needed for victory. His opponent, Democratic Party candidate and Vice President Kamala Harris, has received 224 electoral votes and is no longer in contention for victory.
International leaders, including French President Emmanuel Macron, have begun to congratulate Trump on his anticipated victory. The cryptocurrency market has also reacted to the election results.
Trump's Crypto Promises Trump's victory is seen as a promising sign for the cryptocurrency industry in America. He has drawn attention with statements supporting cryptocurrencies and presenting himself as a crypto-friendly candidate.
Trump had promised that if elected, he would end the war against crypto and make America the "crypto capital of the planet." In July, at the Bitcoin 2024 conference in Nashville, Tennessee, he announced that he would remove SEC Chairman Gary Gensler from his position as soon as he took office. SEC Commissioner Hester Peirce is known for her supportive stance toward crypto and is considered a potential replacement for Gensler.
Trump also pledged to initiate a strategic Bitcoin reserve that would create a 200,000 BTC (Bitcoin) reserve, obtained through application actions.
Stating that he supports Bitcoin, Trump made significant promises to ensure that America becomes a global leader in Bitcoin mining. The crypto community preferred Trump over Harris and continued to support him despite changes in his previous stance on Bitcoin. Founders of major American crypto exchanges like Gemini and Kraken backed Trump, donating millions of dollars to his campaign. These figures described Trump as the "only crypto candidate."
Notable supporters of Trump's campaign include Cardano founder Charles Hoskinson, BitGo CEO Mike Belshe, Tron founder Justin Sun, and Bitcoin Foundation founder Charlie Shrem.
Bitcoin Hits Historic Records with Trump's Victory The growing optimism related to Trump's victory in the election triggered a historic response in the cryptocurrency market. Bitcoin briefly surged to $75,000 on November 6, surpassing its historical peaks.
Currently, Bitcoin is trading at $73,580, reflecting a 7% increase over a 24-hour period, according to CoinGecko.