The election of the U.S. Congress is as important as the election of a new president. Still, in this legislative body, which consists of the Senate and the House of Representatives, legislation is introduced and voted on after debate.

And although the president can veto a bill, the general vector of the country’s development is still primarily determined in the Senate and the House of Representatives.

That is why Brian Armstrong earlier emphasised that the representatives of the renewed Congress mainly support the cryptocurrency industry. This means that there are more conditions for its development.

Politicians who support and do not support cryptocurrencies in the renewed U.S. Congress after the election

What will happen to cryptocurrencies under the new Congress

Armstrong voiced his thoughts on Twitter. In general, the entrepreneur calls the outcome of the election “a huge victory for crypto” – and regardless of the methodology for assessing what happened.

According to Brian, there are five things to be happy about. Here they are:

1. Bernie Moreno’s victory against Sherrod Brown in Ohio. The latter was one of the main opponents of crypto among senators, who actively opposed the popularisation of digital assets. Moreover, Moreno’s coin support factor was the basis for his success.
2. The winner of the US presidential election openly supports cryptocurrencies. Donald Trump took such a position back in the spring of 2024, after which he promised to significantly improve what is happening for the blockchain industry, noting the disadvantages in the current regulation of coins.
3. The choice of the American people hints that people did not appreciate the pronounced fight of politicians against cryptocurrencies. This is especially true for current SEC Chairman Gary Gensler and Senator Elizabeth Warren, who won the Massachusetts vote in doing so. According to Armstrong, it was Gensler and Warren who made serious contributions to the Democrats losing the election on all fronts.
4. The renewed Congress got a record number of members who are in favour of the development of the digital assets sphere. In particular, there were 257 such politicians in the House of Representatives.
5. Washington received a clear signal that active actions against the cryptocurrency industry can easily lead to the end of a political career.

Cryptocurrency investors at the rise of Bitcoin

As Armstrong pointed out, many factors led to this election result. One of them was Ilon Musk, whose purchase of Twitter did play a role in the sentiment of US residents, The Block reported.

However, behind the support of the crypto sphere, there is another important detail to consider. Here’s Brian’s line.

As I see it, the main message we as American citizens sent to our government in this election is this: we are not going down the road to socialism with a growing cumbersome government machine, over-regulation, legal attacks, massive dollar printing, and free handouts to attract votes that lead to deficits. America will choose the path to ECONOMIC FREEDOM, our source of strength based on limited government intervention, rule of law, meritocracy, fiscal discipline and respect for the free market – not government – as the engine of economic growth, support for science, technology and the CONSERVATIVES that lead our civilisation to progress.

In the end, Armstrong noted that Coinbase and others in the industry will continue to defend it exactly until the U.S. has adequate regulation of cryptocurrency. And then it will protect not only users, but also companies from further attacks from the SEC and other authorities.

Logo of the cryptocurrency exchange Coinbase in New York City

Well, the coin industry itself isn’t going anywhere.

What will happen to Bitcoin and gold

Such a point of view was supported by analysts of the bank JPMorgan. According to their version, in the future Bitcoin and gold will show good results, as they will be used as a defence tool against the depreciation of conventional money.

JPMorgan bank logo

At the same time, the demand for the listed assets will push up their value.

Here is a rejoinder from experts led by Nikolaos Panigirtzoglou.

We don’t see gold’s initial negative market reaction as a rejection of the currency’s “depreciation” strategy in the event of a Trump victory. After all, Bitcoin – the other component of this strategy – rose following yesterday’s election results. We maintain a positive outlook on BTC for 2025.

😈 MORE INTERESTING STUFF CAN BE FOUND IN OUR YANDEX.ZEN!

Experts also recalled the recently announced MicroStrategy plan called “21/21”. It involves raising $42 billion from giants over the next three years.

MicroStrategy executive chairman Michael Saylor

This money will eventually be used to buy new bitcoins for the company’s vault.

Analysts commented as follows.

MicroStrategy will invest $10 billion in Bitcoin in 2025 alone, which is roughly equal to its cumulative purchases since mid-2020.


As of today, the giant holds 252,220 BTC worth $19.08 billion. And MicroStrategy has spent a total of 9.9 billion coins on that amount.


Largest companies by volume of bitcoins acquired


As of today, the outlook for Bitcoin and the cryptocurrency market as a whole seems brighter than ever. However, from next year the US government will most likely not only stop fighting the niche, but will support it by attracting developers and investors in this sector. And under such conditions, the number of those willing to invest in crypto - including among large companies - will clearly increase.
.

Look for more interesting information in our crypto chat room. We look forward to seeing you there to keep you up to date on what’s happening inside the digital asset industry.

SUBSCRIBE TO OUR CHANNEL IN TELEGRAM TO KEEP UP TO DATE.