Photo by Sajad Nori on Unsplash
Congratulations, Bitcoin holders — this U.S. election has turned out to be a major boost for crypto!
It’s clear that the election has positively impacted both Bitcoin and Trump.
Although I’m not based in the U.S. and didn’t follow the election in great detail, this one was interesting to watch due to its crypto angle.
In the last election, Trump was vocal in his criticism of crypto, even calling it a “scam.”
But this election has been a total 180. Trump came out openly supporting Bitcoin, pledging to make the U.S. the “world capital” of cryptocurrency, and even making Bitcoin payment for a burger!
Watching all this from a distance feels surreal — almost like a Fugazi.
Then, to everyone’s surprise, Trump launched his own crypto project, World Liberty Financial, distributing WLFI tokens as governance assets for the platform.
This put him ahead of his rivals in the crypto race.
The crypto community responded enthusiastically, backing him up and even playing a role in his presidential campaign.
Seeing Bitcoin hit an all-time high amid all this feels like a happy ending — but hold on. Here are a few more insights:
Before the token launch, Trump’s crypto portfolio was reportedly worth around $3 to $6 million. Now, with the platform’s launch, his holdings are reportedly raising over $300 million, making him a near crypto-billionaire and a key figure in the crypto space.
The U.S. now ranks fourth on the list of the world’s largest Bitcoin holders.
This is also a strategic move for the U.S. in a time of international tension, with various nations attempting to reduce reliance on the U.S. Dollar. Holding significant Bitcoin reserves could be advantageous.
What’s Next?
From my perspective, this Bitcoin rally might not last forever. While it’s unlikely to crash abruptly, I think it could return to around $50–$60K and move from there.
But who knows? It all depends on market sentiment.
One undeniable takeaway is that crypto is now a hot topic in one of the world’s most powerful nation. Hopefully, this trend will continue, with more nations taking crypto seriously and building ecosystems around it.
Or is it simply a campaign strategy to raise funds and capture the attention of crypto enthusiasts and Gen-Z voters?
Bitcoin Hits an All-Time High | What’s Next? was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.