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Bitcoin Businesses Feel Safe In The U.S. In Wake Of Trump Victory

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This morning MARA, the largest publicly-traded Bitcoin mining company, shared that it will be rolling out three new data centers in the U.S.

Would it have made such an announcement had Harris won the election? Probably. (It’s not like they whisked up these data centers overnight.)

But would they have made the announcement with such gusto, highlighting the fact that the bitcoin the company mines will be “Made In USA”? Probably not.

The “Made In USA” line is likely a nod to President-elect Donald Trump, who’s said he wants all future bitcoin mined in the United States.

Since Trump won the election, the stocks for bitcoin mining companies across the board have skyrocketed, with CleanSpark (CLSK) even being halted due to such breakneck upward price action, indicating that not only miners but also investors believe that Bitcoin mining is welcome in the U.S. and that the industry will thrive as a result.

And it isn’t only Bitcoin miners who feel that Bitcoin companies are safe to operate in the U.S. Alex Leishman, CEO and CTO of Bitcoin exchange River, also believes that the Trump administration will be kind to Bitcoin businesses (and Bitcoin holders).

In this tweet, Leishman seemingly refers to the promise Trump made in his keynote speech at Bitcoin 2024 to protect the right to self-custody and to stop the Federal bureaucracy from unlawfully cracking down on the Bitcoin and crypto industry.

Will Trump follow through on all of his promises? Hard to tell.

It seems likely that he will, though, as money talks and the Bitcoin/crypto lobby raised millions for Trump’s campaign.

For now, though, optimism abounds, which is refreshing after four years of the Biden administration, which made Bitcoin and crypto companies feel uneasy about their status in the U.S.





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Bitcoin

PayPal Enables Business Accounts to Buy, Hold, and Sell Bitcoin And Crypto

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PayPal Holdings, Inc. (NASDAQ: PYPL) has enabled its U.S. business account holders to buy, hold, and sell cryptocurrency supported on its platform, such as Bitcoin, directly from their PayPal accounts. While this service is available nationwide, it will not be available in New York State at launch, PayPal stated.

“Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency,” said Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies at PayPal. “Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We’re excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly.”

In addition to buying and selling, U.S. merchants can now externally transfer cryptocurrency to third-party wallets. This new functionality further increases the flexibility of crypto transactions for businesses.

PayPal’s expansion into offering businesses the ability to buy and hold Bitcoin and crypto on its platform builds on its growing digital currency initiatives. This includes the launch of consumer crypto services in 2020 and the introduction of its U.S. dollar-backed stablecoin, PayPal USD (PYUSD), in 2023.





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