How Trump's victory will impact cryptocurrencies. Market leaders share their insights

Members of the community celebrate the creation of the most pro-cryptocurrency congress in the history of the United States.



President Nayib Bukele of El Salvador congratulated Donald Trump on his victory in the U.S. presidential election. The leader of the Latin American nation, who has embraced Bitcoin in his policies, was among the first to reach out to Trump following the announcement of the pro-cryptocurrency politician's win.

“Congratulations to the elected President of the United States, Donald Trump. May God bless and guide you,” Bukele wrote on social media platform X.

Simultaneously, Fox News reported that Trump secured 277 electoral votes, solidifying his victory in the election. Following this news, the price of Bitcoin (BTC) reached an all-time high, surpassing $75,407.

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Donald Trump incorporated support for the cryptocurrency industry into his campaign platform. In May, Trump’s team officially began accepting donations in cryptocurrency, and in September, the Republican publicly treated his supporters to burgers, paying for the purchase with crypto. On October 31, Trump celebrated the 16th anniversary of the publication of the original white paper that introduced the concept of cryptocurrency.

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Nayib Bukele has long been an advocate for Bitcoin. In September 2021, under his initiative, El Salvador became the first nation worldwide to officially designate Bitcoin as legal tender. Alongside the legalization of cryptocurrency, the government began purchasing Bitcoin in batches, and in November 2022, Bukele announced a plan to buy one Bitcoin per day.

In March 2024, the address of the crypto wallet holding the government reserves of the first cryptocurrency in El Salvador was made public for the first time. As of November 6, the wallet holds 5,925 BTC (approximately $434 million).

With Trump’s victory, participants in the crypto market note that the new congress will be the most pro-cryptocurrency in the entire history of the United States. Brian Armstrong, the CEO of Coinbase, believes that Americans have chosen a path toward clear market regulation.

“The crypto voter has spoken decisively. Americans disproportionately care about cryptocurrency and want clear rules for digital assets. We eagerly anticipate working with the new congress to make this happen. Thanks to everyone who supported crypto today. We did it!” wrote the CEO of the cryptocurrency exchange.

Armstrong pointed out that the disproportionate attention to crypto is evidenced by the greater number of pro-crypto candidates elected during the congressional elections, which occurred simultaneously with the presidential elections, compared to those opposing it. According to the Stand With Crypto portal at noon Moscow time, 242 pro-crypto candidates and 113 cryptocurrency opponents made it to the House of Representatives. In the Senate, 14 pro-crypto candidates versus 9 against were elected.

Latest reports indicate that the Republican party secured a majority in the Senate with 51 seats, while the Democrats hold 43 seats. In the House of Representatives, Republicans have already claimed 176 seats, and Democrats have 139, with the count still underway.