Republican and crypto-loving politician Mike Johnson has been re-elected as the speaker of the US House of Representatives sending a wave of excitement throughout the crypto community. This positive development comes amid growing doubts about the willingness of the Donald Trump administration to fulfill the President-elect’s crypto manifesto.
Mike Johnson Wins 218-215 Against Anti-Crypto Rep
According to a recent report by Yahoo media, the US House has now completed the process of electing a new Speaker to officially open the 119th US Congress.
The race for Speaker was close after Republicans Keith Self, Ralph Norman, and Thomas Massie opposed Mike Johnson’s bid to retain the title by voting for other candidates. However, Reps. Norman and Keith eventually switched their votes and gave Johnson the required 218 votes, more than 50%, to emerge as speaker.
Mike Johnson’s victory was widely welcomed in the digital asset community as the re-elected speaker has supported pro-crypto policies to vote in favor of the CBDC Anti-Surveillance State Act and the Financial Innovation and Technology for 21st Century Act (FIT21). ).
The Republican victory is even more pronounced considering Democratic candidate Hakeem Jeffries, who came out with 215 votes, opposed both tangible property laws.
Commenting on Johnson’s victory, Ripple CEO Brad Garlinghouse expressed his excitement.
Garlinghouse says:
Today, here in the US, we welcomed the 119th Congress—better known as the most crypto-crypto Congress in history. The journey is just beginning, but you can’t deny the energy & excitement that already exists across the industry. Let’s get to work.
With Republicans in full control of the US Congress including the Speakership and the majority of seat holders in the House and Senate, it is expected that President-elect Trump will face little opposition in advancing his administration’s agenda which is said to include very favorable crypto policies.
The Crypto Community Is Waiting For Trump
As the inauguration of Donald Trump approaches, members of the digital goods community continue to comment on the commitment of the Republican administration to fulfill the promises made during the election campaign.
Trump’s massive support for the crypto industry has led to a surge in optimism among investors following the billionaire’s victory in November. This has been attributed to high expectations for the pro-crypto US government in the next four years.
One of Trump’s biggest promises is the adoption of Bitcoin as a strategic asset. CryptoQuant CEO Ki Young Ju has described this idea as a situation that can only happen when there is an economic threat to the US dollar that is not currently there.
However, the Founder of SkyBridge Capital Anthony Scaramucci has supported the incoming administration to fulfill this promise of the Bitcoin reserve although he shows the acquisition of 500,000 BTC rather than Senator Lummis’ proposed 1,000,000 BTC.
Featured image from the Los Angeles Times, chart from Tradingview