The expected result in the 2024 US Presidential elections came true and Donald Trump was re-elected as the 47th President. His successes, especially in critical states, secured Trump’s presidency. This election was made with the intense contribution of crypto supporters. It has also made a huge impact on the digital asset market in the United States. As Kriptokoin.com reported, donations made to crypto-friendly candidates during the election process directly affected both the Bitcoin price and the general market sentiment.
US Elections and Its Impact on the Crypto Market
Donald Trump’s victory in the presidential race created a positive surge in the crypto market. With the election concluded, Bitcoin price reached a new all-time high, surpassing $75,000. Victories, especially in critical states, fueled interest in crypto by increasing investor confidence in the market. Trump’s victory was driven by strong support in key states like Pennsylvania.
This process marks large investment inflows from the crypto industry. The prospect of a Republican victory attracted interest from institutional investors, consistent with predictions made before the election. It also provided a significant inflow of funds into crypto assets with very high market values.
Republican Majorities in the Senate and House of Representatives
After the US elections, Republicans in the Senate surpassed Democrats in states such as West Virginia and Ohio. This will allow Trump to more easily implement his own agenda during his second term as president. But the race for a majority in the House of Representatives is not yet over; Both parties are awaiting results in critical regions.
Kamala Harris was successful in 14 states as the Democratic candidate. Harris’ victories in states with large vote potential, such as California, New York and Washington DC, created hope at the beginning of the election. However, Trump’s chances of reaching 270 votes have diminished as he maintains his lead in strategic states.
Support for Trump from the Crypto World
The crypto community strongly supported Trump’s election victory. In his statement on Twitter after the election, Coinbase CEO Brian Armstrong said, “Crypto voters are here now and gave a clear message,” and stated that they want to work with the new congress. Ripple CEO Brad Garlinghouse also emphasized that this change will be long-lasting, saying, “The crypto voter will be even stronger in the future.”
On the other hand, pressure has increased on institutions such as the US Securities and Exchange Commission (SEC). “Stop suing crypto, start working on setting the rules,” Coinbase legal director Paul Grewal said in his message to the SEC, addressing the new Congress. Trump’s pro-crypto stance could take the industry’s relationship with regulators to a new level.
A Message of Unity for Trump Supporters
Trump gave a speech to his supporters after his election victory. He stated that he would work determinedly to rebuild America in his second term. However, Republicans are preparing to take a stronger position in areas such as economic development and support for crypto assets. Election results, the future of the market and America’s approach to digital currencies will take a new direction.
