After months of Trump promising various things and getting involved with crypto, even as far as getting endorsed by Elon musk himself who is also a popular name within the crypto realm, He has now won so let us talk what could happen in the next 4 years with Trump as president.
First of all, it is guaranteed that the SEC chair will be replaced by a new one. Trump has said that he will fire Gary Gensler if elected. The question now would be, who would replace him? Surely the SEC chair that will replace Gensler is someone who has the same plans for bitcoin and crypto as Trump. We will definitely see less restrictions within the crypto market which would lead to more innovations.
Trump hopes to make bitcoin as the country's reserve and treat it like a national gold reserve. If this were to happen, countries that are already holding bitcoin will find themselves at an advantage while countries without bitcoin might scramble to keep up.
Bitcoin or crypto transactions will be taxed less. This can definitely boost more interest in crypto especially in the US. Trump hopes to make the US as a bitcoin capital and gaining interest from other countries due to their bitcoin friendly policies could lead to that.
Of course, these things can only happen if Mr. President actually follows through his words but if he does do the things he has said,
where do you see bitcoin, specifically in the US, 4 years from now? Of the points you listed, I am most interested in two of them, and the first is, of course, the dismissal of Gensler, who has already become quite annoying to the entire crypto industry. I think that since Trump was initially very loyal to crypto, he will be able to keep some of his promises and, of course, the dismissal of Gensler will be one of the most visible, if this does not happen, then it will be clear how much Trump is determined to change something.
And the second is the assignment of bitcoin to the status of a reserve for the United States, this would also be an excellent signal for other countries, even those that were previously not so loyal to bitcoin, as a result, this can lead to a very positive attitude towards bitcoin. But for now we need to wait some time, Trump will have a lot of responsibilities and it will take a little time until he gets to some issues.
