Trump victory/ bitcoin record high/ cryptocurrency surge/ SEC chair removal/ pro-crypto policies/ Newslooks/ LONDON/ J. Mansour/ Morning Edition/ Bitcoin surged to a new all-time high, surpassing $75,000 after Donald Trump’s presidential win, as investors anticipate favorable crypto policies under his administration. Trump’s pro-crypto stance, including plans to make the U.S. a “crypto capital,” has fueled optimism across digital asset markets. The crypto community is now watching for potential regulatory shifts as Trump aims to remove the SEC chair.
Trump’s Win Sparks Bitcoin Surge: Quick Look
- Bitcoin Surge: Bitcoin rose over 8%, setting a record above $75,000, with expectations of further gains.
- Trump’s Pro-Crypto Stance: Trump has shifted to a favorable view of crypto, proposing to make the U.S. a global crypto leader.
- SEC Leadership Shake-Up: Trump pledged to remove SEC chair Gary Gensler, viewed as a crypto industry opponent.
- Industry Reaction: Crypto leaders welcome potential regulatory reforms and clearer crypto rules under Trump.
Trump’s Victory Ignites Bitcoin Surge, Crypto Industry Rejoices
Deep Look
Bitcoin reached an unprecedented high of over $75,000 early Wednesday as investors reacted to Donald Trump’s U.S. presidential election win, fueling optimism across the cryptocurrency market. Bitcoin’s price climbed nearly 8%, surpassing its previous record, while other digital assets, including ether, also rallied as the crypto sector embraced the prospect of a pro-crypto administration under Trump.
Trump, once skeptical of digital currencies, has adopted a favorable view of crypto assets in recent years. In his campaign, he expressed ambitions to make the United States the “crypto capital of the planet,” proposing measures like establishing a “strategic reserve” of bitcoin and welcoming cryptocurrency donations. He further signaled his support by launching a venture, World Liberty Financial, to facilitate crypto trading alongside family members.
Investors see Trump’s victory as a boon for bitcoin’s growth, with market speculation mounting around when the leading cryptocurrency might break through the $100,000 milestone. “Bitcoin was always set to soar if Trump returned to the White House,” noted Russ Mould, investment director at the online platform AJ Bell, adding that crypto traders are energized by Trump’s pro-digital currency stance.
Trump’s proposed regulatory approach has also garnered significant attention. He pledged to replace SEC Chair Gary Gensler, who has led efforts to tighten oversight of the crypto industry. Gensler’s regulatory approach has been met with criticism from crypto advocates, who argue that it hampers innovation and limits the growth potential of digital assets in the U.S. Trump’s promise to reshape the SEC is seen as an opportunity to implement a more crypto-friendly regulatory environment, a shift long advocated by digital currency supporters.
Crypto leaders quickly welcomed Trump’s pro-crypto stance. Brian Armstrong, CEO of Coinbase, one of the world’s largest crypto exchanges, highlighted the strong “crypto voter” turnout and expressed eagerness to work with Congress on clear regulatory frameworks for digital assets. “Americans disproportionately care about crypto,” Armstrong shared on social media, adding that the industry seeks “clear rules of the road.”
For the crypto sector, Trump’s victory represents both a regulatory opportunity and a renewed narrative of growth and acceptance. As bitcoin climbs toward a new milestone, the industry anticipates a favorable shift in the U.S. regulatory landscape, positioning the country to become a hub for digital assets under Trump’s second term.
