Following Donald Trump’s victory in the 2024 US presidential election, the crypto market saw a significant increase in adoption and investment, marking the most substantial growth seen in recent years.
Trump’s pro-crypto policies, combined with his promises of a clearer regulatory framework, have fueled global interest and investment in the sector.
A new wave of global crypto investors
A recent investigation by Binance involving over 27,000 participants across Asia, Australia, Europe, Africa and Latin America, revealed that 45% of respondents entered the cryptocurrency market in 2024.
Interestingly, 44% of participants allocated less than 10% of their total assets to crypto. This highlights a growing awareness and confidence in crypto as a stable, long-term investment asset.
This growth is not just global; this is particularly evident among younger generations. According to Bitget, the number of Gen Z users on its platform jumped 683% after Trump’s re-election, making Gen Z account for 53.8% of new users. This rise is attributed to Trump’s pro-Bitcoin stance and the overall optimistic outlook for financial markets.
“Donald Trump’s pro-crypto stance during the US presidential election resonated with younger users, highlighting the role of political narratives in shaping financial behavior.” – Bitget reported.
European markets experience parallel growth
The trend is also strong in Europe. Financial News London representativeorts a surge in crypto-related ETP assets in 2024, marking a major milestone for digital assets. ETFGI data reveals that European crypto ETPs attracted £108 million (~$135 million) of new investments in November, making it the third best month for the products this year.
“Part of this increase is due to Donald Trump’s victory in the US presidential election. Crypto ETP assets in Europe have increased by almost $6 billion since he won the race for the White House on November 5. Financial news London commented.
In the UK, the Financial Conduct Authority (FCA) has observed a continued increase in cryptocurrency ownership throughout 2024. FCA data shows that 12% of UK adults now own cryptocurrency, compared to 10% in the UK. previous reports.
Crypto awareness also increased from 91% to 93%. The average value of crypto holdings increased from £1,595 to £1,842.
“The adoption rate in the UK suggests that residents owning crypto assets could increase significantly in the coming years. Building on the FCA’s research, many will use crypto to send and receive payments, pay for goods and services and convert them to fiat currency and vice versa. Companies looking to capitalize on this trend should prioritize solutions that offer seamless crypto-fiat transactions, satisfying users’ need to bridge the two economies. Uldis Teraudkalns, chief revenue officer at Paybis, told BeInCrypto.
Trump’s major policy changes, such as establishing a strategic Bitcoin reserve and forming a Bitcoin and crypto advisory council, have sparked unprecedented optimism about the future of cryptocurrencies. These actions pushed Bitcoin prices to new record highs, followed by other cryptocurrencies like Ethereum.
This election marked a pivotal moment for the cryptocurrency industry, not only in the United States but around the world. Investors, from beginners to seasoned experts, are seeking opportunities in this dynamic market, hoping for a new era where cryptocurrencies gain worldwide recognition and regulation.
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