In the political landscape of November 2024, an event many Europeans deemed unthinkable occurred. Donald Trump, in his third attempt at running for the presidency of America, emerged victorious for the second time, defeating Kamala Harris from the Democratic Party.
Trump: The Favored Candidate Among Economists
The signs of Trump’s victory had been apparent for weeks, primarily due to the significant impact of high inflation on most Americans’ lives. Many betting houses heavily leaned towards a Republican victory and were proven right. Trump had previously ousted the incumbent US President, Joe Biden, from the race. Biden’s performance in the first TV duel against Trump raised fears that the Democrats might lose the race. However, even Kamala Harris couldn’t thwart another triumph for the controversial real estate tycoon.
Trump’s Shift From Crypto Skeptic to Enthusiast
In his campaign, Trump had portrayed himself as the “Crypto President” with promises to turn the USA into the leading crypto-nation. His campaign alongside Elon Musk already hinted at his seriousness towards this cause. Musk is known for supporting everything that the US Democrats vehemently reject. He backed cryptocurrencies like Dogecoin early on and decided that his flagship company, Tesla, should also invest in Bitcoin and others. Cryptocurrencies are seen as an alternative to the traditional financial system, which is over-regulated and under the influence of government interventions, either directly or through the US Federal Reserve’s low-interest policy.
Elon Musk’s Mission to Dismantle Regulatory Obstacles
Trump and his closest advisor, Elon Musk, aim to revolutionize this. To this end, the next US president has even founded a department dedicated to deregulation. Ironically named “DOGE,” this department further strengthens the connection to the crypto scene. “DOGE” stands for “Department of Government Efficiency.” Trump’s plans alarmed even the staunchest critic of cryptocurrencies, the chairman of the US Securities and Exchange Commission, Gary Gensler, prompting him to voluntarily step down.
US SEC No Longer Acting as a Roadblock
Paul Atkins, Gensler’s successor, is not only an entrepreneur and lawyer but also an avowed crypto enthusiast. This makes him a critical figure in removing a significant roadblock to the rise of cryptocurrencies in the USA. The new US Secretary of the Treasury is also a crypto enthusiast. Scott Bessent has himself invested in Bitcoin and has consistently expressed positive views on cryptocurrencies in the past.
Trump’s Game-changing “Strategic Bitcoin Reserve” Plan
However, the most crucial step towards the next crypto boom could come from Trump himself. During his campaign, he surprised many with the idea of establishing a strategic reserve of Bitcoin, mirroring existing reserves for gold, food, and oil. If Trump succeeds in implementing his plan, Bitcoin would become a reserve currency for the USA, attainable through an executive order, which a US president can issue.
Will Other Coins Get A Boost?
Observers are eagerly waiting to see if Trump will follow through with his promises. If the USA indeed starts purchasing large amounts of Bitcoin, it will undoubtedly have massive effects on the crypto scene.
Introducing Structure to the Crypto World with Meme Index
The spotlight could also shine brightly on tokens currently in their pre-sale phase, one of which being the Meme Coin Meme Index ($MEMEX), deemed as one of the crypto dark horses for the year 2025. Meme Index ($ MEMEX) aims to bring structure to the increasingly chaotic crypto market. The success of Bitcoin has inspired countless imitation projects, making it difficult for investors to keep track.
FAQs
What is Meme Index ($MEMEX)?
Meme Index ($MEMEX) is a new Meme Coin that aims to bring structure to the chaotic crypto market. It sorts the market according to stability patterns and market capitalization, enabling investors to diversify their risk.
What is Trump’s “Strategic Bitcoin Reserve” plan?
Trump suggested establishing a strategic reserve of Bitcoin during his campaign. If implemented, Bitcoin would become a reserve currency for the USA.
Who replaced Gary Gensler as the chairman of the US SEC?
Paul Atkins succeeded Gary Gensler as the chairman of the US Securities and Exchange Commission. Atkins is an entrepreneur, lawyer, and crypto enthusiast.
What’s the mission of the “DOGE”?
“DOGE” (“Department of Government Efficiency”) is a department founded by Trump dedicated to deregulation, reinforcing the connection to the crypto scene.
This detailed exploration of the political landscape and its intersection with the crypto world provides a unique perspective on how significant forces can reshape the future of cryptocurrencies. It demonstrates that the integration of cryptocurrencies into mainstream finance and politics is not a distant dream but an emerging reality.
