When the concept of Cryptocurrencies was first mooted and the very first Bitcoins were mined, many believed that the digital currency’s journey into the financial mainstream would be a matter of when, not if.
However, the more popular the currency became, the more the sceptics and the biggest companies in the world turned their noses up at the thought of the digital currency taking over.
Fast forward to the present day and the world of cryptocurrencies is once again abuzz.
Whilst it’s fair to say that most of the developed world have leaders and governments in place that would like to stick to the status quo, the recent election success of Donald Trump and running mate J.D Vance, have launched cryptocurrencies into a completely different stratosphere.
Why Does Crypto Feel So Relevant Now?
The answer to the question above is simple, it’s Donald Trump.
Everything that Trump stood on and for during his historic election victory was heavily considered and a huge topic that he was keen to support was the regulation of cryptocurrencies and an acceleration of them into the financial mainstream.
Much of Silicon Valley believes that the financial future of the world will depend on cryptocurrencies and in a bid to not only attract their support but also donations, Trump was keen to champion its capabilities from a very early stage in the campaign process.
It’s believed that Trump’s view on the importance of cryptocurrencies even impacted how he chose his running mate J.D Vance, with Vance long having positive views on cryptocurrencies and supposedly having the support of the high flyers in Silicon Valley.
Realising that talking to the crypto community could potentially garner him crucial votes, Trump went all-in to create appeal. Not only was he open about his own crypto holdings, he was even the keynote speaker at the annual 2024 Bitcoin Conference which was held just before the election.
What made Trump popular with the community was his commitment to abolish the regulations surrounding crypto that were put in place by the SEC. These regulations have kept crypto on the outside and with them in place it would be hard for both American and European markets to adapt to a financial world where crypto could play a part.
With Trump more than likely to stick to his regulation promises, for the first time crypto looks like it has the ability to challenge the main financial conventions that we have become so accustomed to. With these changes forthcoming, big business is starting to get involved.
Big Businesses Rush To Grow Crypto Portfolios
There have been industries and businesses that have been riding the crypto wave for years. Betting with crypto has long been common practice and there have been a huge number of crypto casinos and crypto sportsbooks that have allowed bettors to play and win with various cryptocurrencies. Now there are plenty of other businesses that look set to follow the same path.
One company that was significantly able to boost its profit shares and revenues was Microstrategy. Sensing a huge opportunity thanks to the strong surge in the crypto markets, its investment in crypto has led Microstrategy’s stock level to rise a massive 501% and it’s fair to say that other companies have been keen to cash in.
With Microstrategy offering such a clear and efficient blueprint to stockpiling crypto, huge corporations such as Japan’s Metaplanet and pharmaceutical giant Acurx have all managed to quickly diversify and have jumped on the crypto bandwagon.
Although there is still a little way to go when it comes to cryptocurrencies being a legitimate method of currency to buy our daily items, for the first time in a long time it really feels like crypto is here to stay.
When looking at whether the current crypto phase will eventually fade out, leading financial think tanks have gone on to make the prediction that cryptocurrencies will replace gold as the leading value held asset in the world.
More and more companies are quickly realising that any plans they have to buy and hold cryptocurrency stock is better to be made now rather than in the future.
Yes, there are still several barriers that will remain in place in order for cryptocurrencies to become viable for everyone, but with crypto markets at an all time high, now is the time for many companies to finally strike and start to think about their crypto futures.
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