The 10 Trump Promises for the Cryptocurrency Industry

[Bobcrypto]

Yes 2024 US presidential election is expected to significantly impact cryptocurrency industry. Donald Trump once critical of cryptocurrency has repositioned himself as a pro crypto candidate aiming to make US "crypto capital of the planet". His economic policies characterized by deregulation and tax reductions may stimulate institutional investment and elevate Bitcoin market value.  Despite uncertainty one trend seems inevitable interest rates are likely to decrease, flooding markets with liquidity and potentially fueling Bitcoin rise. Historically Bitcoin has tended to increase after US elections regardless of the winning party. As crypto narrative continues to intertwine with US election cycle the choices made in voting booth could determine trajectory of this transformative technology.

Mate, though I am not an expert on crypto analysis, but my experiences is a little above average as far as crypto market analysis are concerned; the directions of the market before or after the election was not certain to either pump higher or going dip or was to dump. Bitcoin was trading on the side way movements, before the election, fortunately, Btc hit All Time High towards the end of the election with results updates signaling Donald Trump winning rates. The market was able to hit my target profits level during the elections results updates.
As a matter of facts, the election influence the demand of Bitcoin at certain point during the elections, I was buying/selling, and made good profits.
Now, it is also correct to say that with or without the elections, Bitcoin would have continued it's normal trends, and it is also great to acknowledge the fact that there are  some influencers on the crypto economy, even the president elect, Donald Trump, is crypto friendly with huge influence as the president of USA. Donald Trump actually made many election promises during his campaigns, and the community is waiting to see if he will fulfill his promises. Honestly, if he is able to act on some of his promises, there will be more investments opportunity, mining etc.
 

[Kemarit]

In fact, all of these are very strong promises that the crypto community is drooling over and they hope that Trump will fulfill all of these promises because this will change the course of the entire industry.

Among the best of these promises are the dismissal of Gary Gensler, as well as the creation of a strategic reserve fund for Bitcoin, preserving current Bitcoin holdings in the United States, and also proposing cryptocurrencies as a solution to the national debt, but I do not know if Trump as president is capable of doing these things without the approval of Congress?

Trump really put a lot of good promises in this campaign relating to crypto and for sure we wanted all of that to happen. As for Gensler, expect that he will file his resignation or be fired by Trump in his first day of office. I like the proposal to make Bitcoin as somewhat a national reserved, and if you look at their current Bitcoin holdings,



https://intel.arkm.com/explorer/entity/usg

There were reports earlier that they want to offload all of this, but I'm sure Trump is going to veto that and make sure that they have crypto holding while he is the sitting President. Although if we look forward after 2025, it could be a bear market for us. But let's see about this policy and who are the people that he will surround himself, advisers that have knowledge about the intricacies of crypto that will help him decide on how to make US the crypto capital as per his promise.

[LogitechMouse]

As much as I want Trump to fulfill all of the promises that he did during the campaign, I don't believe that he will fulfill it all.
One thing's for sure though. Every promise that gets fulfilled will be a temporary spike towards the price of Bitcoin.

I'm part of the crypto community obviously, but I don't think that he will fulfill all of them. What I'm waiting is him firing Gary Gensler and reducing or possibly releasing Ross Ulbricht. I also like the fact that he wants to address the debt issues with the help of cryptocurrency, but in order to do that, they need to sell the Bitcoins that they're holding, and that's contradict already to one of his promises.

Speaking of Bitcoin holdings, I don't also think that he will not order the authorities to sell those Bitcoin holdings. What's he planning? Holding that forever? Nah, he's a businessman at heart, so he will still find a way to make money through everything. Overall, I'm excited still on how he will fulfill those promises, but I'm not expecting anything though.

[albon]

With the results of the us presidential election and the announcement of the 47th president the crypto world is witnessing a surge of activity. Trump recent victory is causing a stir in the crypto world and promising a future where digital assets can prosper. The government of my country also promises many things but forgets everything after winning. But i believe in trump promise and already proved it with the launch of the crypto market. Trump has hinted at a more favorable regulatory environment for digital assets, which could stimulate future investment. A lot of investors are hoarding funds by investing at this time so we can see a change in the crypto market for the better.

[yhiaali3]

There were reports earlier that they want to offload all of this, but I'm sure Trump is going to veto that and make sure that they have crypto holding while he is the sitting President. Although if we look forward after 2025, it could be a bear market for us. But let's see about this policy and who are the people that he will surround himself, advisers that have knowledge about the intricacies of crypto that will help him decide on how to make US the crypto capital as per his promise.

Yes, it is true. A short while ago, there was news about the US government transferring its Bitcoin holdings to a new wallet, and there were speculations that the Biden government wanted to sell it before Trump won, but fortunately they have not been able to do so yet.

You also made an important point, which is that Trump should choose the advisors who will help him in his mission well, because this is a very sensitive point, so he should choose the right advisors carefully.

[KingsDen]

You also made an important point, which is that Trump should choose the advisors who will help him in his mission well, because this is a very sensitive point, so he should choose the right advisors carefully.

It will not be very simple for Trump to implement all the promises he has made concerning crypto in the US. Everything will take time and it will also depend greatly on those he will choose as his advisers. A wrong choice will leave the crypto community disappointed even though Trump has good intentions.

Crypto has become very complex, the advisers should not just be politicians, but people who truly understand what crypto is and can bring up a balanced policy that will be both favourable to the Government and the people. I know fulfilling all these promises will not happen too soon, but let's just give Trump time.

[yhiaali3]

Crypto has become very complex, the advisers should not just be politicians, but people who truly understand what crypto is and can bring up a balanced policy that will be both favourable to the Government and the people. I know fulfilling all these promises will not happen too soon, but let's just give Trump time.

Yes, that is absolutely true. Trump alone will not be able to fulfill his promises of openness unless he has good advisors who will help him make the right decisions if he wants to follow through on his promises.

In my opinion, Trump's next most difficult task will be to replace Gary Gensler, the head of the SEC, and choose the right person for this task, because the SEC's mission is basically to find a balance between creating an open environment for companies to operate in and protecting investors at the same time. If he succeeds in choosing the right person, I am confident that everything will change for the better.

[Z-tight]

In my opinion, Trump's next most difficult task will be to replace Gary Gensler, the head of the SEC, and choose the right person for this task, because the SEC's mission is basically to find a balance between creating an open environment for companies to operate in and protecting investors at the same time. If he succeeds in choosing the right person, I am confident that everything will change for the better.

Gary Gensler has been anti-crypto all through his time as sec chair, regulation by enforcement is not the proper way to regulate the industry and it has been a scourge to crypto projects and firms. If Gary leaves as sec chair, then that is a good thing for the crypto network and even better if someone with more progressive and liberal policies takes the office.

[KingsDen]

In my opinion, Trump's next most difficult task will be to replace Gary Gensler, the head of the SEC, and choose the right person for this task, because the SEC's mission is basically to find a balance between creating an open environment for companies to operate in and protecting investors at the same time. If he succeeds in choosing the right person, I am confident that everything will change for the better.

I do not think replacing Gary Gensler will be a difficult thing to do. The president has authority over appointments and removals based on facts that are justifiable. Gary Gensler has proven to many to be incompetent. Just some days ago, the SEC commissioner Mark Uyede showed disapproval over agency's approach to crypto regulation. In his words, he called it "a disaster". Many other people are talking about it too.

I doubt there are no crypto-friendly guys out there that can take over from Gary. This will not be a difficult job for Trump.

[MoneRs]

It is certainly important to monitor and verify how policy promises, especially those related to the cryptocurrency industry, will be realized. Support from the authorities can play a key role in its further development and sustainability. But we, as participants in the crypto community, need to actively monitor the fulfillment of these promises and, if necessary, remind them so that the industry can really move forward

[B.Trader]

Donald Trump has decided to transform the United States into a global tricenter. It is said that he wants to ensure freedom of action in the country. I think this is why the price of Bitcoin is constantly increasing. And Bitcoin looks set to hit $100,000 in a few days. What do you think?

[MrSpasybo]

As the election season has started to settled in and after the smiles of the winners and that of their supporters as well as the tears and glooms of those in the other side of the fence, it is time that we go into the things that politicians promised most especially for the cryptocurrency industry...and we can start with President Trump, of course.

Right from the very start of his campaign, Trump's team recognized the power and the influence of this industry and they know that votes from the crypto people can help him clinch the presidency, very much adding to the "too big to rig" strategy.

Now that Trump will surely be inaugurated in January 20, 2025, let's all make some reviews of the promises he made and let's all as an industry make sure that we are following up on all of these promises that can really help on the growth and sustainability of the industry.

I hope that Trump will fulfill his promises. In case he forgets, the crypto community will go on Twitter and Truth Social to remind him of what he said. I'm only focused on Trump BTC reserve plan because it could play the most important role in bringing crypto to global success.

As soon as BTC is included in the US government reserve assets list, I believe a lot of other countries will also accumulate BTC because they are afraid that BTC will actually succeed and they will be left behind in this financial revolution. I cannot predict the volatility of BTC price at that time because it will be truly crazy and beyond our normal understanding.

[yhiaali3]

I do not think replacing Gary Gensler will be a difficult thing to do. The president has authority over appointments and removals based on facts that are justifiable. Gary Gensler has proven to many to be incompetent. Just some days ago, the SEC commissioner Mark Uyede showed disapproval over agency's approach to crypto regulation. In his words, he called it "a disaster". Many other people are talking about it too.

Yes, the president can fire the SEC chairman for just cause, but that's not what I meant. I meant that finding a suitable replacement is a difficult task, although there are many qualified people but finding the right person is not an easy task, as I mentioned we want someone who will preserve the industry and the growth of the companies and protect the users at the same time.

In any case, there are some good candidates already:

Regardless of the fact that Trump’s words cut against Supreme Court precedent—as Decrypt has reported, a president can’t fire an SEC chair without cause—the names of several potential Gensler replacements are making the rounds ahead of Trump's inauguration on January 20.

That list includes Hester Peirce and Mark Uyeda, both SEC commissioners; Dan Gallagher, Robinhood’s chief counsel; former chairman of the U.S. Commodity Futures Trading Commission, Chris Giancarlo; and former Binance.US CEO Brian Brooks. 

https://decrypt.co/290718/who-is-most-likely-to-replace-gary-gensler-after-trump-win

[Aanuoluwatofunmi]

Or maybe we should now learn how to leave having concentrations on other peoples affairs and face our own, have we laso considered the numbers of promises we have once made and how we were able to end up not fulfilling all of them, some may even be that we are quite aware of their existence while some might have skipped our mind, but are we talking on it or being advised about it, or are there even change at all.

[rachael9385]

The effect of Donald Trump on crypto currencies will be massive, from the day he was announced as the 47th president of the united states till date Bitcoin has been running endlessly. But concerning his promises we all know that politics is a game of promise especially in their campaign period, and sometimes it's not as if they do not want to fulfill their promises but when you carry a country as large as US in mind to make things better definitely things might change but we are still waiting for the year come 2025 to see his promises come to pass.