Former President Donald Trump will return to the White House in January after winning the 2024 presidential election. His win appears particularly favorable for the cryptocurrency sector, whose leaders contributed nearly $130 million to support pro-crypto candidates in this election cycle.

The market has responded enthusiastically, with bitcoin (BTC-USD) topping $75,000 after the election results.

BitGo Co-Founder and CEO Mike Belshe joins Asking for a Trend to discuss the implications for the cryptocurrency space.

He emphasizes crypto's significant role in shaping the political outcome, stating, "I think it surprised everybody, but it kind of shouldn't. There's nothing to object about when we say we want people to have the most modern stable form of financial technology available to them."

Looking ahead, Belshe emphasizes that regulation should be a primary focus for the President-elect.

"We need heads of each regulatory agency that has an open mind to what is crypto, what is bitcoin, and how do we bring financial safety to everybody in America," he says. Belshe points out that the current environment is harsh on cryptocurrency, underscoring the need for clear regulation.

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Angel Smith