Donald Trump now sees cryptocurrency in a positive light. Whether you like him or not, this benefits the industry.

Let me be clear: I’m not very political. I don’t back all of Trump’s policies or his entire plan for the US. But as someone who supports crypto, I have to admit there’s an upside if Trump wins the election in November. Right now, he has a good shot at winning — which isn’t shocking, given recently he almost became a hero in Pennsylvania.

The end of the attack

I don’t want to harp on this, but Biden’s team hasn’t been crypto friendly. It’s unusual to see a technology criticized as much as it has been while the Democrats have been in charge. Banks are worried, watchdogs are on the attack, and growth has stopped. But here’s the thing: If Trump gets elected, all of that could change pretty fast.

I won’t claim Trump has always backed crypto. A research shows that in January 2019, during his first White House term, he stated he wasn’t “a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is volatile and based on thin air.”

Jump to July 2024, and he’s set to talk at Bitcoin Nashville. In June, he met with Bitcoin miners aiming to create a US monopoly in the industry. The tide is turning, and crypto needs to ride the wave of political power that’s now available.

Even if Trump doesn’t change any crypto policies just easing up on prosecutions would greatly benefit our industry. It would stop the crackdown, give banks more freedom to choose their clients, and pave the way for widespread adoption. America has opposed crypto. Now though, the last bit of pushback might crumble. With this possible change in the political scene crypto providers should get ready.

Raise your sails

What does this mean for crypto companies? Raise your sails. I think this shift in attitude will happen now, not in the November election. Yes, the election and the famous “Santa Claus rally” will occur within weeks of each other, but the old saying “Buy the rumor, sell the news” rings true now more than ever. You must be ready for a possible boom like never before. Here’s what crypto firms should do.

First, strengthen your infrastructure. Get ready for a wave of new users that could overburden your servers.

Second, sort out your compliance. Ensure you’re solid on current rules and permits so you’re ahead when attitudes change.

Last, team up with compliant banks. You want to be set to benefit from the new momentum in the field without shaky and uncertain fiat providers holding you back.

Keep in mind, this goes beyond current crypto fans. We might see a fresh wave of everyday investors — people thinking, “I backed Trump, so I’ll buy Bitcoin.” We could easily witness another rush to record-high prices.

Bitcoin’s influence

While these wider market shifts matter, let’s not overlook the upcoming event: Bitcoin Nashville. we are curious to see how Trump handles the well-known Nakamoto Stage for half an hour.
Yes, this is clearly part of his plan to attract voters. But the timing couldn’t be better.
BlackRock — the biggest asset manager worldwide — now holds over $20 billion in Bitcoin assets after Bitcoin ETFs got approved in January. BlackRock will also join the Nashville event. Things are looking up, and all the key players — from big companies to politicians — are pushing things forward.

Trump supporting crypto is good for crypto. We can dislike his policies, but everyone in this field should take notice. Crypto needs to use political trends to reach its first billion users. Hopefully, we’ve learned that we still need traditional finance for now, and we need more regular people to join in. We can’t waste our efforts fighting against anti-crypto campaigns anymore. We should use those resources to grow the industry.

So be ready. Make sure you follow all the rules. Work with banks that strictly follow regulations. Prepare for a possible price surge like never before. Politics and crypto views are mixing, whether we like it or not, and this could unlock the next level of crypto use and growth.