After Donald Trump won the 2024 elections, details about his economic policies began to become clear. Trump took the first steps of a Republican era in economic management by completing the appointments of officials in key roles. Following these developments, American indices increased by 5% in two weeks.
Cryptocurrency Market Relieved with Trump’s Victory
With the election of Donald Trump as president, a positive atmosphere was created in the cryptocurrency market. Crypto investors say Trump, along with Senator Cynthia Lummis, are planning a Strategic Bitcoin for the US 
$87,585 He raised his expectations when he brought up the plan to create the reserve. However, Galaxy Digital CEO Michael Novogratz stated that such a plan is unlikely to materialize due to bureaucratic obstacles in the Senate. Novogratz said, “It would be wise for the United States to be the technology leader, but the probability for the Strategic Bitcoin Reserve is low.”
The realization of this plan could enable the US government to stand out in the cryptocurrency world by creating a strategic Bitcoin reserve. However, even if an official reserve is not established, the Trump government has committed not to sell its existing Bitcoins. While this creates confidence in the crypto market, it is also seen as an important signal for the US’s Bitcoin strategy.
$500,000 Target in Bitcoin Price
Michael Novogratz predicts that the Bitcoin price could rise up to $500,000 if the United States creates a Bitcoin strategic reserve. This may encourage other countries to take a similar step and create Bitcoin reserves. Novogratz said, “If the Bitcoin reserve is implemented, other countries can also take steps on this path.” However, despite this expectation, there are various legal and bureaucratic obstacles for the US government to achieve this goal.
In conclusion, although the Trump administration is unlikely to create a Bitcoin strategic reserve, it is clear that such initiatives have a positive impact on the crypto market. Investors and market observers are following the developments closely and observing the impact of possible regulations on Bitcoin’s price. Changes in economic policies may play a decisive role in shaping the future of Bitcoin and the global crypto market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
