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-US bitcoiner, I usually don’t care about US elections and what happens in the US But this time, it was different. I looked at it closely. I wanted Donald Trump to win. Because of Trump’s pro-Bitcoin promises, I saw this election as a referendum on the old money system.
Let’s be real, when the US sneezes, the world catches the flu. Almost all countries look to American laws as a blueprint for new technology.
Now, with Trump promising to make Bitcoin a reserve asset and pro-Bitcoin senators like Cynthia Lummis pushing a bill for the US to buy Bitcoin and treat it as a strategic reserve asset, every other nation has been put on notice. They must accept Bitcoin or be left behind.
Administrators around the world are facing a major FOMO moment. We should expect a wave of Bitcoin and crypto-friendly policies as countries strive to accumulate Bitcoin currencies. No one wants to miss the boat.
This is the point of no return for the legitimacy of Bitcoin. Regulators can no longer dismiss it as some kind of criminal tool. Now, it will be a brilliant set piece on the world’s center stage.
I see billions flowing into Bitcoin from private wealth funds, pensions, endowments, and more. Institutional FOMO will be unrealistic.
What will the world be like when banks and governments rush to collect? I don’t really know. But as someone who has been in Bitcoin for 8 years, this moment feels surreal. I never thought we would 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 it. The views expressed are entirely those of the author and do not reflect those of BTC Inc or Bitcoin Magazine.