Key Takeaways
- Trump promises to make the U.S. a leader in Bitcoin.
- Bitcoin hit $75,000 as Trump's election win became clear.
- Major Bitcoin advocates endorsed Trump's campaign.
Former President Donald Trump declared victory in the 2024 U.S. presidential election on November 6, stating he would bring a “golden age” to America.
As of the Associated Press’ last count, Trump had secured 277 electoral votes, surpassing the required 270, while his opponent, Vice President Kamala Harris, held 224 votes without a path to win.
Trump’s promises for Bitcoiners
Throughout his campaign, Trump positioned himself as a pro-Bitcoin candidate, vowing to make the U.S. a global leader in Bitcoin.
At the Bitcoin 2024 conference in Nashville, Trump pledged to fire U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, an action aimed at easing the regulatory environment for Bitcoin businesses.
Trump also promised to establish a 200,000 BTC reserve in the U.S. and to support domestic Bitcoin mining.
Dennis Porter
Bitcoin advocate Dennis Porter commented on Trump’s victory, saying how the “anti-Bitcoin movement” in the U.S. has led to this election result.
Major figures like the Gemini and Kraken founders endorsed Trump, viewing him as the only pro-Bitcoin candidate.
Bitcoin’s surge
Following Trump’s election win, Bitcoin surged to record highs, reaching $75,000 on November 6.
Influencer Anthony Pompliano celebrated, saying:
We have the first Bitcoin President going to the White House.
Bitcoin currently trades at $73,580, a 7% increase in the last 24 hours.
