Once a vocal critic, Donald Trump has become an ardent supporter of cryptocurrency during his 2024 presidential campaign. Labeling himself the “crypto president,” Trump has endorsed a national Bitcoin stockpile and launched his own crypto project, a stark shift from his earlier stance. This pro-crypto sentiment, backed by campaign rhetoric, signals a new trajectory for digital assets under his administration.

BTC’s Post-Election Surge

Following the election, Bitcoin’s price spiked to a record-breaking $90,000, pushing the entire cryptocurrency market cap to $3.2 trillion. This rally is largely attributed to renewed investor optimism, as Trump’s pro-crypto platform contrasts sharply with Biden’s more restrictive approach. Enthusiasts are hopeful that his administration will create a more favorable regulatory landscape.

Standard Chartered’s Bold $10 Trillion Forecast

Investment bank Standard Chartered is forecasting a surge in the cryptocurrency market, projecting a market cap of $10 trillion by 2026. They credit this potential growth to expected pro-crypto policies from a Republican-controlled government, which could spur a fourfold increase in digital assets’ value. Geoff Kendrick, Head of Digital Assets Research at the bank, explained that this could lift all digital assets, particularly those with end-use applications.

Bitcoin Reserve: A Game-Changer?

While a national Bitcoin reserve under Trump’s administration remains unlikely, Standard Chartered notes that if it were to happen, the move could have significant implications. This “low-probability but high-impact event” might further solidify the U.S. as a crypto-friendly nation, potentially bolstering Bitcoin’s value to exceed $4.3 trillion—more than the total British pound supply.