NEW YORK, November 20, 2024 – Bitcoin has soared to new heights following the U.S. presidential election, with the cryptocurrency seeing a 40% surge in just nine days. Starting on Election Day, Bitcoin climbed 8.8%, fueled by renewed confidence and pro-crypto sentiment under the Trump administration.

Discussions around a U.S. strategic Bitcoin reserve have gained traction, with Senator Cynthia Lummis advocating for converting gold certificates to Bitcoin to position the U.S. as a global leader in digital assets. Pennsylvania lawmakers also introduced a bill allowing Bitcoin holdings in the state treasury, reflecting growing acceptance of crypto at state levels.

Corporations and institutional investors are following the trend. MicroStrategy and others are eyeing Bitcoin for their treasuries, while U.S. spot Bitcoin ETFs recorded $5 billion in net inflows in just two weeks. Jersey City’s pension fund has also expressed interest, underscoring institutional confidence.

Ether products are seeing increased demand as well, with $796 million in inflows immediately after the election. Meanwhile, companies like Robinhood have expanded their crypto offerings, and ETF issuers are pushing forward with new filings in anticipation of regulatory shifts under a potentially friendlier SEC.

Amid speculation about SEC leadership changes, crypto-friendly figures like Mark Uyeda and Brian Brooks are emerging as potential candidates to replace Chair Gary Gensler. As the political and regulatory landscape evolves, the crypto industry is poised for further transformation, setting the stage for a new era in digital finance.