Trump and Crypto- Australia’s Crypto Future: Trump’s Role and Market Reactions
Trump and Crypto– Donald Trump’s presidency has been linked to a surge in the crypto market, with promises to support the industry. However, a recent survey reveals mixed views among Australians about his impact on crypto. The survey, conducted by Australian crypto exchange Independent Reserve, questioned 2,100 local adults and found that 31% believed Trump was good for crypto, while only 8% thought he was bad for the industry. The majority, 60%, remained neutral.
Interestingly, the survey indicated that crypto investors were more optimistic about Trump’s influence compared to non-investors. Half of Australian crypto investors felt Trump’s policies would benefit the sector, while only 6% believed he would harm it. In contrast, among non-crypto investors, just 20% viewed Trump positively for crypto, with 10% expressing concerns over his impact.
Bitcoin’s Price Surge Post-Trump Election
Bitcoin (BTC) has seen a significant increase in price since Trump’s election on November 5, 2024. BTC, currently trading at $91,100, surged more than 40%, reaching a peak of $108,786 on January 20, 2025, the same day Trump returned to the White House. Adrian Przelozny, CEO of Independent Reserve, noted that many believe Trump’s pro-crypto policies will drive innovation and wider adoption of digital assets.
Australia’s Crypto Landscape and Regulatory Challenges
Australia’s crypto adoption has risen since 2019, with almost a third of Australians reporting owning or having owned cryptocurrency. However, regulatory clarity and market volatility continue to present challenges. Adrian Przelozny highlighted concerns about traditional financial institutions blocking crypto investment activities, emphasizing the need for clearer and supportive regulations.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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