A significant portion of cryptocurrency investors fails to grasp the magnitude of Trump’s election victory. The first pro-crypto President of the United States will take office on April 20. This event is reminiscent of Nayib Bukele stepping down from overseeing El Salvador to lead the U.S. Now, Trump is taking steps concerning cryptocurrencies.
Trump and Cryptocurrencies
Bitcoin (BTC) 
$65,890 price recently surged from $90,500 to $92,000 within minutes. This $1,500 increase has several contributing factors. One major reason is Trump’s consideration to acquire Bakkt, a cryptocurrency trading platform associated with his social media company. The acquisition process is ongoing, with discussions reported by Financial Times.
Moves to Support Investors
Trump currently has an active project with WLFI DeFi. Additionally, Bloomberg shared that Trump plans to have a private meeting with Coinbase CEO Brian to discuss strategies related to cryptocurrencies. Trump has promised to take steps favorable to investors against the regulatory stance of the Biden administration.
Trump, who has mentioned firing Gensler, is seeking advice on cryptocurrency actions from the head of Coinbase, which Gensler has taken legal action against. Private consultations are being held to strategize upcoming moves in the crypto sector.
Looking at it this way, Bitcoin’s rise seems quite normal. However, the unpredictable nature of cryptocurrencies has taught us to live with the fact that a negative disaster could lead to a collapse, even if there is only a 1% chance. No one can guarantee a 100% continuation of this upward trend.
