The US elections ended overwhelmingly in Trump’s favor, as predicted by Polymarket betting (with $3.2B wagered). The big question is—what does this mean for crypto?
Anyone checking the BTC price last night could tell you. Today, the markets continue to react extremely positively to the news of the winner, with the Dow Jones, the US dollar, and Crypto all surging in unison.
Trump was the candidate who proposed Bitcoin mining, creating a Bitcoin stockpile for the US, halting any CBDC development, and firing regulators unfriendly to crypto like Gary Gensler on day one.
With Republicans leading the White House and the Senate and the battle for the House on a razor’s edge, it seems likely that many crypto-friendly initiatives will come to fruition.
Some market indicators from the past 24hrs:
BTC breaches new ATH while a sell-the-fact slide looks unlikely (NFA)
Memecoins rocket as their market cap hits a seven-month high
BlackRock's Bitcoin ETF traded over $1B within the first 20 minutes today.
The future of Web3 development looks bright at the moment in the US, but despite whatever happens as the president-elect takes office…
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