Republican

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<h2 id="key-points">Key Points</h2>
<ul>
 <li>President Trump’s support for cryptocurrencies has led to a surge in Bitcoin’s market value, surpassing $90k.</li>
 <li>Standard Chartered predicts a potential $10 trillion crypto market by 2026, following a Republican sweep.</li>
</ul>
<p>The 47th President of the United States, who initially dismissed <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a>, has become a prominent advocate for cryptocurrencies during his 2024 election campaign. This has earned him the nickname “crypto president.”</p>
<p>His campaign promises included establishing a “strategic national Bitcoin stockpile” and criticizing the Biden administration for its stringent crypto policies. He also launched his own cryptocurrency project, indicating a significant change in his stance on digital assets.</p>
<h2 id="bitcoin-s-post-election-market-cap">Bitcoin’s Post-Election Market Cap</h2>
<p>Following the 2024 elections, Bitcoin’s value skyrocketed past $90,000, breaking its previous record of $73,000 set in March. This led to a $650 billion increase in the total value of all cryptocurrencies, reaching $3.2 trillion.</p>
<p>This surge is largely credited to the optimism surrounding the new administration. Crypto enthusiasts anticipate a more positive approach towards digital assets compared to the Biden administration.</p>
<h2 id="republican-sweep-s-impact-on-crypto-market-cap">Republican Sweep’s Impact on Crypto Market Cap</h2>
<p>Investment bank Standard Chartered predicts that the total cryptocurrency market capitalization could reach $10 trillion by 2026. This prediction is based on the possibility of a Republican sweep bringing in crypto-friendly policies.</p>
<p>According to a recent report, the bank believes that supportive government actions could quadruple the market’s value to over $10 trillion in the coming years.</p>
<p>Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, commented on this, stating, “The rising tide should lift all digital assets; those most exposed to end-use cases are set to benefit most.”</p>
<p>The report also suggested that while the establishment of a Bitcoin reserve under the new administration is unlikely, it could have significant implications if it were to happen. Kendrick optimistically stated, “With a Republican sweep in the U.S. election now looking likely, we believe we have entered the crypto summer.”</p>
<p>If Bitcoin reaches this level, its total value could even surpass $4.3 trillion, exceeding the entire British pound money supply.</p>

Standard Chartered Forecasts $10 Trillion Crypto Market Surge Amidst Trump’s Comeback

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CoinEagle.com

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