Fun

Don’t miss the bull run that could make Bitcoin great again

News Feed - 2024-07-26 01:07:02

Adam Bialy7 hours agoDon’t miss the bull run that could make Bitcoin great againDonald Trump has seen the light when it comes to cryptocurrency. Love him or hate him, that"s a good thing for the industry.2823 Total views19 Total sharesListen to article 0:00OpinionOwn this piece of crypto historyCollect this article as NFTJoin us on social networksLook, I’m far from being political. I do not fully support former President Donald Trump’s policies or his entire vision for the United States. However, as a strong advocate for crypto, I must acknowledge the upside to Trump potentially winning the election in November. For now, there is a solid chance that will happen — which is hardly surprising, considering he almost became a martyr in Pennsylvania.The end of the crusade


At the risk of belaboring this point,the Biden administration hasn’t exactly been crypto’s greatest ally. It’s quite rare to see a piece of tech demonized as much as it has been under the Democratic Party’s tenure. Banks are scared, regulators are on the warpath, and adoption has stalled. But here"s the thing: Trump’s election could change all of that relatively quickly.


I’m not going to argue that Trump has always been pro-crypto. A quick Google search will display from January 2019 when, during his first term in the Oval Office, he was quite explicit in not being a “fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.” Ouch.


Related: Trump"s RNC speech gave tech enthusiasts hope for the future


Fast forward to July 2024, and he’s scheduled to speak at Bitcoin Nashville. In June, he had a meeting with Bitcoin (BTC) miners behind closed doors, with the intention of creating a US monopoly over the industry. The winds are shifting, and crypto needs to piggyback on the political clout that is now unexpectedly sitting at the table.Donald Trump wrote in 2019 that he was "not a fan of Bitcoin and other cryptocurrencies." Source: X


Even if Trump doesn"t change a single crypto policy, just putting the handbrake on the prosecution would be huge for our industry. It would end the crusade, give banks some slack in deciding who they want to work with, and open the floodgates for mainstream adoption. America has generally been antagonistic toward crypto. Now, however, the last point of (futile) resistance might fall. With this potential shift in the political landscape, crypto providers should be prepared.Keep your sails up


So what does this mean for crypto businesses? Keep your sails up. I expect this change in sentiment not to happen in the November election, but now. Yes, we will have the election and the fabled "Santa Claus rally" happening within weeks of each other, but the old cliché of "Buy the rumor, sell the news" has never been more on point. You need to be ready for a potential surge like you"ve never seen before. Here"s what crypto companies should be doing.


Firstly, beef up your infrastructure. Be prepared for a flood of new users that might overload your servers.


Related: Donald Trump’s crypto platform is missing one thing


Secondly, get your compliance in order. Make sure you"re rock solid on existing regulations and licensing so you"re on the front foot when sentiment changes.


Finally, look to partner with highly compliant banking partners. You want to be ready to take advantage of the new tailwinds in the industry without unstable and unsure fiat suppliers slowing you down.


Remember, this isn"t just about existing crypto enthusiasts. We could see a whole new wave of retail investors — consumers who think, "I voted for Trump, now I"m going to buy Bitcoin." We could very easily see another gold rush towards all-time highs.The Bitcoin factor


While these broader market trends are important, let"s not forget about the immediate catalyst on the horizon: Bitcoin Nashville. I’ll be there, and I’m fascinated to see how Trump can hold the famous Nakamoto Stage for 30 minutes.Kamala Harris declined an invitation to speak at a Bitcoin conference in Nashville in July 2024. Source: X 


Sure, this is undoubtedly an integral part of his campaign to win over voters. But the timing could not be better. BlackRock — the world’s largest asset manager — is holding more than $20 billion of Bitcoin in assets under management thanks to the approval of Bitcoin ETFs in January. BlackRock will also be participating in the Nashville conference. Momentum is on the up, and all of the big players — from corporations to politicians — are pushing in the right direction.


Trump being pro-crypto is good for crypto. We can hold his policies in contempt all we want, but everyone in this industry should pay attention. Crypto needs to be open to riding the political tides when onboarding the first billion users. Hopefully, we’ve also learned we do need TradFi for the foreseeable future, and we need more mainstream adopters. We can"t afford to commit our resources to fight against an anti-crypto crusade anymore. We should focus those resources on growing the industry.


So get ready. Make sure your compliance is top-notch. Work with highly compliant banking partners. Be prepared for a potential bull run like you"ve never seen before. Politics and crypto sentiments are intertwining, whether we like it or not, and could be what unlocks the next level of crypto adoption and growth.Adam Bialy is a founder and CEO of Fiat Republic, a regulated banking and payments platform. He previously held senior management positions at OpenPayd, Sainbury’s, Ukash (acquired by Paysafe), and Raiffeisen Bank, among others. An avid bitcoin investor, Bialy has also held several advisory roles in the space, most notably at Ramp Network.


This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.# Bitcoin# Government# Conference# US Government# United States# Elections# Donald Trump# Opinion# Kamala HarrisAdd reaction

News Feed

EasyA announces 1 million devs in ecosystem
Vince Quill1 hour agoEasyA announces 1 million devs in ecosystemThe Web3 educational platform also announced a Polkadot education initiative to help onboard new developers to the blockchain network.153 Total viewsListen
TON Network TVL surpasses $760M — Is this bullish for TON price?
Marcel Pechman8 hours agoTON Network TVL surpasses $760M — Is this bullish for TON price?Investors’ excitement over airdrops and other incentives fueled TON Network’s TVL, but how sustainable is this strategy?1466
Brayden Lindrea5 hours agoMark Cuban, John Reed Stark clash over the cause of FTX’s collapseMark Cuban thinks the SEC could have saved U.S. customers from FTX had it adopted Japan’s approach to crypto regulation, but
US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to Individuals
US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to Individuals A U.S. lawmaker has introduced a bill in Congress to prohibit the Federal Reserv
How a Trezor Wallet Passphrase Taking a Lifetime to Brute Force Was Cracked by KeychainX Experts in 24 Hours
How a Trezor Wallet Passphrase Taking a Lifetime to Brute Force Was Cracked by KeychainX Experts in 24 Hours sponsored Have you lost the passphrase for an hardware wallet and lookin
Rare alien CryptoPunk sells for $16M worth of Ethereum
Tristan Greene3 hours agoRare alien CryptoPunk sells for $16M worth of EthereumAfter days of bidding, an anonymous user with a newly created wallet nabbed the NFT for 4,500 ETH.926 Total views4 Total sharesListen to arti
Onkar Singh10 hours agoHow to backup your crypto wallet private keysTo securely backup your crypto wallet private keys, create an encrypted offline copy on a hardware wallet or write them on paper.1420 Total views22 Tota
William Suberg11 hours agoBitcoin price reacts as 3.7% CPI sees inflation jump beyond forecastsBTC’s price clings to $26,000, with Bitcoin traders braced for the Wall Street open, following the latest CPI report.8359 T
Gareth Jenkinson8 hours agoBitcoin-backed property investment becomes new avenue for Cayman Islands residencyBitcoin financial services firm Ledn’s ties with the Cayman Islands open a doorway for crypto users to use th
Biggest Movers: UNI Closes in on 5-Week High, While SOL Also Climbs
Biggest Movers: UNI Closes in on 5-Week High, While SOL Also Climbs Uniswap moved closer to its highest point since late August on Thursday, as the token extended recent gains. Tod
Terra Development Team Reveals Some Users ‘Received Less LUNA From the Airdrop Than Expected’
Terra Development Team Reveals Some Users "Received Less LUNA From the Airdrop Than Expected" The new Terra blockchain Phoenix-1 has been operating since Saturday morning May 28, 2
Jesse Coghlan8 hours agoSouth Korean exchange Upbit gets initial license nod from SingaporeUpbit Singapore scored initial approval from the country’s central bank and financial regulator for a local crypto license.3476