2024-11-8 14:32 |
It finally happened. Trump won the 2024 election and became the 47th President of the United States of America.
Simply put, this presidential victory changes everything for Bitcoin.
As a non-U.S. bitcoiner, I usually don't care much about the US election and what happens in the U.S. But this time, it was different. I watched it closely. I was rooting for Donald Trump to win. Due to Trump's pro-Bitcoin pledges, I saw this election as a referendum on the old monetary system.
Let's be real, when the U.S. sneezes, the world catches a cold. Almost every country looks to American regulations as the blueprint for new technologies.
Now, with Trump pledging to make Bitcoin a reserve asset and pro-Bitcoin senators like Cynthia Lummis pushing for a bill for the US to buy Bitcoin and adopt it as a strategic reserve asset, every other nation has been put on notice. They must embrace Bitcoin or get left behind.
Regulators worldwide face a massive FOMO moment. We should expect a wave of Bitcoin and crypto-friendly policies as countries scramble to accumulate Bitcoin reserves. No one wants to miss the boat.
This is the point of no return for Bitcoin's legitimacy. Regulators can no longer dismiss it as some criminal tool. Now, it will be a reserve asset shining bright on the world's center stage.
I foresee trillions flowing into Bitcoin from sovereign wealth funds, pensions, endowments, and more. The institutional FOMO will be unreal.
What will the world be like when banks and governments are racing to accumulate? I don’t exactly know. But as someone who's been in Bitcoin for 8 years, this moment feels surreal. I never imagined we'd be here so soon.
Bitcoin's time has come, and the next four years will propel it into the stratosphere as we move one step closer to hyperbitcoinization.
This article is a Take. Opinions expressed are entirely the author's and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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