Trump's Crypto Comeback: Bitcoin Soars and States Embrace Digital Reserves

What another Trump administration could mean for crypto

The potential return of Donald Trump to the presidency has sparked optimism within the cryptocurrency community, as reported by PBS NewsHour. Bitcoin's value soared past $100,000 following Trump's election victory, driven by expectations of a more favorable regulatory environment under his leadership. Eswar Prasad from Cornell University highlighted that Trump's pro-crypto stance is likely to lead to regulations beneficial for the industry. The appointment of Paul Atkins and David Sacks in key roles further signals this shift towards supporting cryptocurrencies.

Bitcoin To $180,000: VanEck's 2025 Crypto Predictions

Benzinga reports on U.S. asset manager VanEck’s optimistic predictions for cryptocurrency prices by 2025. They foresee Bitcoin reaching up to $180,000 and Ethereum surpassing $6,000 due to increased adoption and market dynamics favoring digital currencies. Additionally, they predict significant growth in tokenized securities and stablecoins playing an essential role in global commerce.

Texas just proposed a Bitcoin reserve

DLNews highlights Texas' legislative proposal allowing it to hold taxes and fees paid in Bitcoin as part of its reserves strategy against inflation. This move aligns with President-elect Donald Trump's vision of making America "the crypto capital." Other states like Florida are also considering similar strategies using their pension funds while countries such as Australia explore integrating bitcoin into financial systems despite legal challenges.

ETH/USD: Ethereum Prices Steady Near $3,900 amid Broad Crypto Market Pullback

According to TradingView, Ethereum maintains stability around $3,900 even amidst broader market fluctuations where major coins struggle below recent highs including Bitcoin, which failed to maintain above six figures recently after initial post-election surge excitement waned slightly among traders. Looking ahead, possible year-end rallies fueled potentially through new ETF approvals could enhance investor confidence across sectors involved.

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Article Summary

The potential return of Donald Trump to the presidency is seen as favorable for cryptocurrency, with expectations of supportive regulations and key appointments signaling a pro-crypto stance. Meanwhile, optimistic predictions from VanEck foresee Bitcoin reaching $180,000 by 2025 due to increased adoption, while Texas proposes holding Bitcoin in reserves against inflation.