Bitcoin is back, marking a new chapter in the history of cryptocurrencies, just in time for the holidays. The recent election of Donald Trump as president has ignited renewed enthusiasm in the crypto sector, with ambitious promises to turn the United States into the “crypto capital of the planet.”
Among the president-elect’s commitments, the creation of a national Bitcoin reserve stands out, reinforcing his pro-crypto stance.
A favorable political environment for Bitcoin
The political impact has not been long in coming. The departure of current SEC Chairman Gary Gensler, known for his strict measures against cryptocurrencies, has been celebrated by the crypto community. Although his successor has yet to be announced, Trump’s appointments to key positions reflect a Cabinet aligned with the interests of the digital ecosystem.
Figures such as Scott Bessent, nominated for Treasury, and Howard Lutnick, nominated for Commerce, are well-known advocates of digital currencies.
Bitcoin close to a historic milestone
Trump’s influence is already felt in the markets. Bitcoin recently hit a record high near $100,000, a level that was once considered mythical. However, the path is not without challenges. According to George Ball, president of Sanders Morris, the recent boom could be more of an “excuse” than a solid reason to trust in the market’s sustainability.
For her part, Nicole Tanenbaum, strategist at Checkers Financial Management, points out that this new political landscape could bring greater regulatory clarity to the sector. However, he cautions against elevated expectations in a high interest rate environment, which could limit the scope for optimism in the markets.
Evolution of the price of Bitcoin in the last month. Source: CoinMarketCap
Bitcoin: an evolving tradition
As the crypto ecosystem evolves, so does its narrative. This end of the year promises to be another episode where conversations about Bitcoin dominate holiday dinners. The new advocates of the post-Biden era will join the market veterans, mixing enthusiasm with lessons learned from previous cycles.
Conclusion
The rise of Bitcoin under the influence of Trump marks a promising season, albeit with uncertainties. Whether as a store of value or decentralized technology, Cryptocurrency continues to consolidate its position at the center of the global economic debate. Will this be the era that brings Bitcoin to digital gold status? Time will tell.
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