With the $10 trillion asset manager emerging as a key player in the asset’s ongoing performance this year, BlackRock has recently said that Trump’s 2024 election win brings a “renewed sense of optimism” for Bitcoin and a strategic reserve. Indeed, the firm notes that his arrival could usher in a new age of regulatory clarity for the asset class in the US.

The last two years have seen anything but clear regulation for the industry in the country. The US Securities and Exchange Commission (SEC) had adopted a regulation-by-enforcement approach that led to a plethora of lawsuits. However, BlackRock has recently noted that is likely to change with Trump’s return to the White House.

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BlackRock Expects Big Things for Bitcoin After Trump’s Reelection

Throughout the year, Bitcoin has seen a massive shift take place within the United States. With the January approval of a BTC ETF, the market opened exponentially as the leading cryptocurrency. Moreover, it saw a flood of institutional investment as it became as relevant on a mainstream stage then it ever had been.

Yet, that is only expected to continue to grow in the coming years. According to BlackRock, Trump’s win provided a “renewed sense of optimism,” regarding both Bitcoin and the potential for a strategic reserve in the United States. The asset manager noted that the latter was a key campaign promise from the 45th president’s returning administration.

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“There is a renewed sense of optimism that regulatory clarity for Bitcoin and digital assets more broadly may emerge following the US election,” they said in a recent note. “President-elect Donald Trump’s campaign on maintaining a strategic Bitcoin reserve.”

There are many who say that such a reserve could come to fruition sooner rather than later. In a post to X (formerly Twitter), US Senator Cynthia Lummis shared her belief that a strategic Bitcoin reserve could be actualized in Trump’s first 100 days. The move could have unprecedented potential and represent a landmark shift in the presidential perception of crypto as an asset class.