Pro-Bitcoin Donald Trump Secures Victory in 2024 US Presidential Election, Sparking Crypto Sector Celebrations

On Nov 6, 2024

The majority of crypto advocates are celebrating Donald Trump’s victory and speculating on potential changes around Gary Gensler.

On 6 Nov 2024, former US President Donald Trump successfully won the presidential election, defeating all opponents.

Donald Trump was de facto elected the 47th president of the United States on Wednesday, according to the Associated Press. With his victory in Wisconsin, Trump has secured the 270 electoral votes needed to win the presidency. https://t.co/UsxoNoSHDf
— Wu Blockchain (@WuBlockchain) November 6, 2024

The majority of crypto entrepreneurs now view this as a significant win for the Bitcoin and crypto sector. Popular Indian crypto influencer congratulated Trump on his victory.

Congrats Doland Trump pic.twitter.com/qf0ucNQfJ6
— Aditya Singh (@CryptooAdy) November 6, 2024

Michael Saylor, former CEO of Bitcoin bull firm MicroStrategy, commented that the U.S. now has a “Bitcoin president.”

We have a #Bitcoin President. pic.twitter.com/HUACTe1XPI
— Michael Saylor⚡️ (@saylor) November 6, 2024

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Ripple CEO Brad Garlinghouse also congratulated Trump, urging him to fire SEC Chairman Gary Gensler and replace him with a pro-crypto figure like Giancarlo, Brooks, or Gallagher, to bring clear laws to the crypto space.

.@realDonaldTrump, Congratulations!

Some fodder for your first 100-day checklist to get things moving:
– Fire Gensler. Day 1, no delays.
– In his place, appoint Giancarlo, Brooks, or Gallagher – they’d be massive upgrades in rebuilding the rule of law (and reputation) at the…
— Brad Garlinghouse (@bgarlinghouse) November 6, 2024

Trump & His Promises

Supported by Tesla CEO Elon Musk, Trump gained substantial public support, leveraging X (formerly Twitter) for promotion.

During the campaign, Trump promised to bring better laws and rules for the Bitcoin sector, openly urging voters to support him if they want clear crypto regulations. Just days ago, Trump discussed the Bitcoin tax, with Michael Saylor noting that Trump opposes any tax on Bitcoin transactions.

It will be interesting to see when the Trump administration will address Bitcoin and crypto regulations and what actions will be taken.

Because of Trump’s victory in this election, the trade price of the majority of the crypto assets surged rapidly. The current trade price of Bitcoin is $74,185. In the last 24 hours, the trade price of Bitcoin surged 8%.