As former President Donald Trump celebrated a potential election victory at Mar-a-Lago, he was joined by high-profile supporters and prominent crypto advocates, including Elon Musk, Robert F. Kennedy Jr., and Cantor Fitzgerald CEO Howard Lutnick. With Trump’s victory looking probable, the cryptocurrency market surged, with Bitcoin reaching a record high of over $75,000 and crypto-linked stocks like Coinbase and MicroStrategy rallying in after-hours trading.
During his campaign, Trump has leaned into pro-crypto promises, outlining policies aimed at strengthening the industry if he returns to the White House. Here are some of the highlights of Trump’s crypto platform and promises:
Strategic National Crypto Stockpile
At a major Bitcoin conference in Nashville, Trump pledged that if he is elected, the U.S. government would retain all its Bitcoin holdings, halting regular auctions of seized crypto assets by agencies like the U.S. Marshals Service. This move would be aimed at maintaining market stability, avoiding the price dips that government auctions can trigger.
SEC Overhaul and Crypto Council
Trump has promised to “fire Gary Gensler,” the SEC Chairman known for his stringent stance on crypto regulation. Although the president lacks the direct power to remove appointed commissioners, Trump aims to reshape the SEC’s leadership and establish a “bitcoin and crypto presidential advisory council” to foster a more crypto-friendly regulatory environment.
Bitcoin Mining Made in the USA
Trump has been vocal about bringing Bitcoin mining to the U.S., viewing it as a way to increase American energy dominance. Following a meeting with mining industry leaders, Trump declared his support for an American-led mining industry, framing crypto mining as a pathway to job creation and energy independence.
Federal Rate Cuts to Boost Crypto
Trump has also hinted at lowering interest rates, a move that could support crypto market growth. Rate cuts have historically led to increased borrowing and investment in riskier assets, including cryptocurrencies, as monetary policy loosens and capital becomes more accessible.
Trump’s pro-crypto stance has resonated with supporters in the industry, positioning him as a potential catalyst for growth in the U.S. crypto sector. With a possible Republican-controlled Senate, Trump’s promises are expected to face fewer legislative obstacles, fueling optimism among crypto investors and industry stakeholders.
