Following the news that Donald Trump will take office for his second term as US president;
Blandina Hanna Szalay, Banking & Payments Analyst at GlobalData, a leading data and analytics company, offers her view;
“Trump’s plans to make America the world’s crypto capital will lift the currently 15% ownership rate of cryptocurrencies by reaching the previously less interested and untapped demographics. Despite the low rate of ownership in a global context, active crypto use (purchase and P2P transactions) is among the highest in the US globally. This indicates so far cryptos have been limited to some highly enthusiastic subgroups of the population, often rebelling for a DeFi future, as opposed to serving as a widespread medium of exchange.
“Unsurprisingly, crypto holdings of males (21%) are currently double when compared to women (9%). Similarly, there is a huge difference in holdings among various categories that include postgraduates (21%) compared to those with just secondary education (11%), workers (19%) compared to unemployed (12%), and the high net worth (HNW) and mass affluent (22%) compared to the mass market (9%).
“As Trump was able to gain the attention and support of the average American during the campaign that led to his victory, his strong influence is expected to spill over to the crypto scene as well, boosting uptake from the wider masses.
“Deregulation and widespread crypto adoption under Trump will either mark the beginning of a new decentralized financial reality or induce a level of global financial volatility and instability where intervention will be required.”
