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Get ready for a crypto boom

The incoming Trump administration is completely gung-ho about cryptocurrencies as evidenced in the philosophy of most of his Cabinet. 2025 will be a turning point.

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Sunil Rajguru
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All money is artificial, virtual and can collapse any time. History is witness to umpteen currencies crashing for some reason or the other. The only thing that keeps them afloat is trust. That’s the same thing with cryptocurrencies. When they were introduced, if nobody had faith in them, then they would have simply sunk away. But enough people have trusted them in the last 15 odd years that they have become a force to reckon with.

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Bitcoin was worth zero exactly at the time of release in 2009, but in 2025 it crossed a whopping $100k for a mind-boggling market capitalization of $2 trillion+. At the time of writing this article Ethereum was worth around $400 billion. The following had a mar cap of $100 billion or so: XRP, Tether, Solana and BNB. There are dozens in the region of at least $1 billion. Even the Trump meme coin ($Trump) gained a marcap of $25 billion+ at one stage. Thanks to this, billionaire US President Trump also became a crypto billionaire.

Critics keep talking about the death of cryptocurrency, but it is here to stay. Forget getting rid of cryptocurrency, you can’t even get rid of the crypto exchange. Governments have flirted with banning crypto altogether, but a thing that is worth trillions cannot be wished away. It will simply morph into the underground.

The crypto push

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Now with Trump backing crypto, it will only gain momentum. Trump wants to make America the crypto capital of the planet and is forming a working group to look into the matter. New rules prohibit the creation of a CBDC (central-bank digital currency) in the US, which at the end of the day is a fiat currency, and not really crypto. While his predecessor Joe Biden seemed to be going the other way, Trump talked of being a crypto president. The push was evident with the kind of people Trump had selected in his administration. Former PayPal COO David Sacks is the Crypto and AI Czar. Paul S. Atkins will head the SEC (Securities and Exchange Commission). He has been Co-Chair of the Token Alliance, a cryptocurrency lobbying group for the Chamber of Digital Commerce. Secretary of Commerce pick Howard Lutnick is a crypto enthusiast.

In 2011, Ross Ulbricht created Silk Road, a darknet marketplace using Bitcoin. Serving a life sentence, he was fully pardoned by Trump, something cheered by most in the crypto industry. The US President is firmly part of the crypto zeitgeist. Most people have forgotten that Trump was totally against crypto a few years back.

It remains to be seen how the governments all over the world will follow America’s lead. For one India currently is more into CBDC rather than crypto.

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