The Bull Run That Could Make Bitcoin Great Again Is Coming

As an advocate for crypto, I must acknowledge that a potential win by former President Donald Trump in November’s election could have a significant upside for our industry.

The Biden Administration’s Anti-Crypto Stance

It’s no secret that the Biden administration hasn’t exactly been friendly to crypto. The Democratic Party has demonized it as much as any piece of tech, and the result has been a stifling of adoption and a chill on innovation. Banks are hesitant to get involved, regulators have been cracking down, and the entire ecosystem has been caught in a vice.

The Possibility of Trump’s Shift

However, with Trump potentially taking office again, we may see a shift in the winds. While he’s not always been a proponent of crypto – remember his 2019 statement calling it "not money" and based on "thin air"? – recent developments suggest he may be open to a more favorable stance.

• Trump’s RNC Speech Gives Hope for the Future
  Trump’s speech at the Republican National Convention (RNC) in July gave many tech enthusiasts hope that he would prioritize innovation and economic growth. This optimism is shared by those who believe that crypto has the potential to democratize finance and create new opportunities.

The Bitcoin Nashville Conference

One significant event that could catalyze a change in sentiment is the upcoming Bitcoin Nashville conference, where Trump is scheduled to speak. The fact that BlackRock – the world’s largest asset manager – is participating and holding over $20 billion of Bitcoin assets under management thanks to the approval of Bitcoin ETFs is a testament to the growing momentum behind crypto.

Why a Trump Victory Matters for Crypto

While we can disagree with Trump’s policies, his potential win could bring an end to the anti-crypto crusade that has characterized the Biden administration. This would allow banks to have more flexibility in deciding which businesses they want to work with and open up new opportunities for mainstream adoption.

What Does This Mean for Crypto Businesses?

So what does this mean for crypto businesses? It’s essential to be prepared for a potential surge in interest and adoption.

• Beef Up Your Infrastructure
  With more users, your servers will need to be able to handle the increased traffic. Make sure you have the resources and infrastructure in place to support growth.
• Get Compliance in Order
  Ensure that your business is compliant with existing regulations and licensing requirements. This will put you on solid ground when sentiment shifts.
• Partner with Compliant Banking Partners
  Choose banking partners who are highly compliant and can provide a stable supply of fiat currency. This will help you take advantage of the new tailwinds in the industry without being held back by unstable suppliers.

A New Wave of Retail Investors?

We could see a whole new wave of retail investors – consumers who think, "I voted for Trump, now I’m going to buy Bitcoin." This could lead to another gold rush towards all-time highs.

The Future of Crypto and Politics

As the crypto industry grows, it’s essential to recognize that politics and sentiment are intertwined. We can’t afford to commit our resources to fighting against an anti-crypto crusade anymore. Instead, we should focus on growing the industry and partnering with mainstream adopters like TradFi.

Conclusion

A Trump victory could be a boon for crypto, bringing an end to the anti-crypto crusade and opening up new opportunities for adoption. Crypto businesses need to be prepared for a potential surge in interest and growth by beefing up their infrastructure, getting compliance in order, and partnering with compliant banking partners.

About the Author

Adam Bialy is a guest columnist for Cointelegraph and the founder and CEO of Fiat Republic, a regulated banking and payments platform. He has 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.

Disclaimer

This article is for general information purposes only 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 those of Cointelegraph.