As 2024 is about to conclude, cryptocurrency investors are celebrating significant gains, with Bitcoin outperforming traditional investments like stocks, bonds, and gold, just as it did in 2023. Remarkably, Bitcoin was the best-performing investment of 2024, rising by 140% in just 12 months. Bitcoin skyrocketed to a record high of $108,000 in December.
Notably, several events led to Bitcoin’s growth. The first BTC ETF was approved in January which turned out to be very successful attracting huge inflows. Further, Trump’s pro-crypto stance and his very anticipated November win in the US Presidential elections further fueled Bitcoin’s price. Besides, Trump’s pick of Paul Atkins as the next SEC Chair has further boosted the expectations of favorable regulations in the crypto community.
The Impact Of Influential Figures
The crypto world is largely shaped by influential figures with their actions and views largely impacting the market dynamics. Prominent personalities like Donald Trump, Elon Musk, and Brad Garlinghouse, among others, are contributing to a more favorable setting for innovation and growth in the crypto space. Let us dive deeper to know who were the 10 most influential figures in crypto this year.
1. Donald Trump – Former President of the United States, crypto advocate.
The President-elect Donald Trump endorsed pro-crypto policies during his presidential campaign and enabled fundraising for his inauguration via cryptocurrency donations. He also promised to launch a strategic Bitcoin reserve in his second term. The Trump campaign also accepted donations in cryptocurrency and he appeared at industry events, promising to make the US “the crypto capital of the planet”.
He also promised to create a Bitcoin and crypto presidential advisory council. He has boosted the market confidence by signaling a pro-crypto regulatory stance, which led to increased adoption and investments.
2. Elon Musk – CEO of SpaceX, Tesla
Elon Musk has frequently backed cryptocurrencies through his X posts. In 2021, Tesla had purchased $1.5 billion in Bitcoin and also planned to accept the coin as payment for its product and services. According to Bloomberg reports, the tech billionaire was also the largest political donor in the country, as he spent at least $270 million to support Donald Trump’s bid for the US presidency. Trump has also selected Musk to lead the newly created Department of Government Efficiency (DOGE).
While Musk occasionally speaks on other altcoins, but he generally speaks of Bitcoin and dogecoin in his public commentaries. Musk’s influence on crypto remains beyond comparison which also reflects how a person can ignite global discussions and shift market dynamics.
3. Brad Garlinghouse – Ripple CEO
Brad Garlinghouse, the CEO of Ripple has been an influential voice in the cryptocurrency space. He has oftentimes stressed the importance of clear and fair regulation for cryptocurrencies and has been vocal about the ongoing legal battle between Ripple and the U.S. SEC. He also expressed excitement when Trump chose Paul Atkins to be the next SEC Chair stating that he will bring common sense back to the agency.
Besides, Garlinghouse has described the recent US election as a turning point for the crypto industry noting the impact of President-elect Donald Trump’s surprising shift toward a pro-crypto stance during the campaign. “I think it’s clear that Donald Trump embraced crypto and crypto embraced Donald Trump,” he stated.
4. Michael Saylor – Microstrategy’s Chairman
Recently, MicroStrategy Executive Chairman, Michael Saylor has emerged as one of the biggest supporters of the crypto realm. Saylor is known for his vocal support of Bitcoin and his company’s substantial Bitcoin holdings. He has expressed strong backing for Trump’s proposal to establish a strategic Bitcoin reserve.
Saylor recently presented a three-minute pitch to Microsoft’s board of directors, urging them to consider buying Bitcoin. He told Microsoft’s board of directors that Bitcoin could be a force multiplier for the company’s balance sheet, and its valuation.“Microsoft has a choice to make: Cling to the past or embrace the future,” he said. However, Microsoft shareholders voted against the proposal for the company to possibly buy Bitcoin.
5. Cynthia Lummis – US Senator
US Senator Cynthia Lummis had proposed the idea of creating a Bitcoin national reserve. She had also suggested that the US government could sell some Federal Reserve’s Gold to fund the Bitcoin purchase.
She has called 2025 a critical year for Bitcoin and crypto, as major government positions and proposed policies are expected to line up and bring about significant changes in the sector. She has also remarked that with David Sacks as Crypto Czar, this will be the most pro-digital asset administration ever.
5. Larry Fink, BlackRock CEO
Back in 2017, BlackRock CEO Larry Fink had said that Bitcoin was “an index of money laundering,” arguing that the cryptocurrency primarily reflects how much money is being made from criminal activity, he now believes that Bitcoin is an asset class in itself and is an alternative to other commodities like gold.
While Fink admitted to being a proud Bitcoin skeptic earlier, after exploring more about it, he concluded that his previous opinion held for five years, was wrong. Remarkably, Fink’s BlackRock has turned out to be one of the biggest beneficiaries of the post election surge in Bitcoin.
BlackRock’s spot bitcoin exchange-traded fund (IBIT) has swelled by $13 billion since Trump’s win on Nov. 5, pushing iShares Bitcoin Trust past $40 billion in assets just 10 months following its launch.
7. Shayne Coplan, Polymarket CEO
Shayne Coplan is an entrepreneur and innovator in the blockchain and decentralized finance (DeFi) space. Shayne is the CEO of Polymarket, which is a decentralized prediction market platform where users can trade on the outcomes of world events using blockchain.
This year, Polymarket arosef the most fascinating and potentially valuable use cases in the growing crypto industry. As the 2024 U.S. presidential race developed, it attracted many new users who successfully predicted important events, like Biden’s withdrawal and Trump’s win.
8. Vivekramaswamy – American Biotech Entrepreneur
Vivek Ramaswamy, a biotech entrepreneur and former Republican presidential candidate, has been selected by President-elect Donald Trump to lead the Department of Government Efficiency alongside Elon Musk. Musk and Ramaswamy will lead the Department of Government Efficiency, or DOGE, aimed to improve governance and cut down on wasteful expenditures.
Ramaswamy, an active advisor in former President Donald Trump’s 2024 campaign, has consistently voiced strong support for Bitcoin. He views it as a robust alternative to the US dollar, highlighting its role in holding the Federal Reserve accountable and preventing currency manipulation. He spoke at the Bitcoin conference in Nashville earlier this year, where Trump promised to turn America into a “Bitcoin superpower.” Prior to that, he had noted that he would implement a “comprehensive crypto policy framework” if elected commander-in-chief.
9. John Deaton – Legal Advocate
John Deaton, a renowned crypto lawyer and legal advocate, has been widely praised for his role in the Ripple (XRP) case. He has been skeptical about Gary Gensler as well who he belives to be stifling innovation in crypto and has endorsed Paul Atkins as the next SEC Chair. In a recent YouTube interview with the Good Morning Crypto podcast Deaton had noted that the SEC’s handling of cryptocurrency regulation in the Ripple lawsuit led to nearly $15 billion in losses for small crypto investors.
Founder of the law firm Deaton Law Firm, he has become a well-known figure within the crypto community for his efforts to protect the rights of retail investors and push back against regulatory actions he believes could harm the industry.
10. Paul Atkins – Former SEC Commissioner
President-elect Donald Trump’s pick to run the SEC, Paul Atkins, is the leader the crypto industry wanted. Trump said Atkins, the CEO of Patomak Partners and a former SEC commissioner, was a “proven leader for common sense regulations.” In the years since leaving the SEC, Atkins has made the case against too much market regulation.
Conclusion
These prominent figures are creating a unique collaboration between politics, business, and technology which could entirely transform the crypto landscape. With the incoming pro-crypto administration, with Paul Atkins all set to be the next SEC Chair, and advocates like John Deaton raising their voices for clearer crypto regulations, the crypto industry is all set to witness a whole new era of growth and innovation.
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