Ahead of Donald Trump’s inauguration as US President, the cryptocurrency market is already showing signs of significant growth. Since early November, Bitcoin has reached a new all-time high above $93,000, approaching the $100,000 threshold, reflecting the industry’s optimism.
Investors are expressing confidence in the pro-cryptocurrency policies of the future government, especially after announcements of cuts in the corporate tax rate from 21% to 15%. According to Brad Garlinghouse, CEO of Ripple, such measures have boosted the cryptocurrency market in the US, adding about $800 billion in value.
In an interview with Fox Business, Garlinghouse expressed great enthusiasm for the Trump administration, emphasizing the potential reversal of the so-called “war on cryptocurrencies,” previously marked by severe SEC crackdowns. “The United States is back in the driver’s seat,” he said, highlighting the positive change in attitude that favors innovation.
In addition to Bitcoin, other cryptocurrencies such as ADA and SOL also appreciated, indicating an upward trend in the market, motivated by the policies of the new government. The market capitalization of cryptocurrencies reached an impressive mark of US$ 3.2 trillion, with platforms such as Robinhood expanding the listing of popular tokens such as XRP and Cardano.
Garlinghouse has lamented the actions of the previous administration under Gary Gensler, which he said imposed significant barriers to innovation and negatively impacted the U.S. position in the global cryptocurrency market. Now, with a regulatory landscape expected to be less restrictive, there is renewed hope for the sector.
When asked about rumors of a meeting between him and Trump or members of his team, Garlinghouse was cautious, neither confirming nor denying the speculation. He emphasized Ripple’s active involvement in dialogues with pro-crypto politicians during the election period.
As Bitcoin nears the $100,000 milestone and American cryptocurrencies surge, the market is looking ahead to a potential golden age. “America is back in charge,” Garlinghouse emphasized, signaling a promising future for the industry under the new administration.