Donald Trump, as he takes office for a second term, has changed his stance on cryptocurrency, endorsing its growth and legalization.
Trump's Support for Cryptocurrencies
On Truth Social, Trump made a declaration supporting cryptocurrencies, highlighting their growing significance. This sentiment aligns with expected legislative changes aimed at promoting and regulating crypto assets in the U.S.
Escalating Competition in the Crypto Space
Trump emphasizes the need to outpace countries like China in the realm of cryptocurrency. The support for the GENIUS Act and other laws underscores the strategic interests of the U.S. in this sector.
Market Reaction to Trump's Initiatives
Since Trump’s announcement, Bitcoin has shown moderate growth, indicating a positive market perception of the news. Expert David Sacks noted that improved access conditions for cryptocurrencies are opening new avenues for institutional investors.
Trump's support for cryptocurrencies may lead to significant changes in the field and affirm the U.S.'s leading role in the global landscape of digital assets.
