A Trump bitcoin promise is what crypto fans once fought against. They love it anyway

The crypto industry, with its roots in detaching government control from currency, is currently experiencing a notable surge. Recently, bitcoin's price has risen by over 30% and is nearing $90,000, a growth of more than double since the year's start. This rise is partly attributed to expectations surrounding a pro-crypto agenda from the incoming government, potentially adding legitimacy to an industry long avoided by mainstream investors and hindered by regulators.

Much of bitcoin's recent rally is fueled by expectations that new policy directions will support cryptocurrency growth. The prospective administration has hinted at regulatory changes that could favor crypto, such as replacing the current Securities and Exchange Commission chair and establishing a national bitcoin reserve. 

There are concerns about how these changes align with crypto's original decentralized ideology. Some argue that government involvement contradicts the anti-authoritarian spirit of cryptocurrencies. However, the establishment of a bitcoin reserve could symbolize a significant victory for the industry, which has struggled for legitimacy in the past.

The vision of a strategic reserve suggests official acknowledgment and could elevate bitcoin's status as a significant global asset class, marking a symbolic success for the sector that was recently viewed with skepticism.