According to a report by Morningstar, investors seeking to continue the cryptocurrency bull market will closely monitor any regulatory changes in 2025 and whether Trump's promises to the crypto industry will be realized. Trump repeatedly vowed to support the crypto industry during his campaign and received the support of several key figures in the industry.
Fundstrat's digital asset head, Sean Farrell, explained that "the first 100 days of Trump's term will be very, very important, as analysts often use the 'first 100 days' as a benchmark to measure the efficiency and impact of an incoming US president." Although the incoming president has not yet detailed any specific plans, investors will be watching whether Trump will fulfill his commitment to establish a strategic Bitcoin reserve in the US, which primarily includes:
- Clear guidance on which cryptocurrencies should be classified as securities;
- Whether Trump will fulfill his commitment to establish a strategic Bitcoin reserve in the US;
- Any changes to the SAB121 rule, which establishes accounting standards for companies that custody cryptocurrencies, requiring publicly traded companies, including banks, to recognize the cryptocurrencies they custody as liabilities on their balance sheets;
- Whether the Federal Reserve will significantly lower its key policy rate in 2025.
