Crypto Advocate Mike Johnson Emerges As US Speaker In Tight Win

Pro-crypto Republican and politician Mike Johnson has been re-elected as Speaker of the US House of Representatives, creating a wave of excitement across the cryptocurrency community. This positive development comes amid growing doubts about the willingness of the incoming Donald Trump administration to fulfill the president-elect’s cryptocurrency manifesto.

Mike Johnson wins 218-215 against anti-crypto representative

According to a recent report issued by Yahoo mediaThe US House of Representatives has now concluded the process of electing a new president who will officially open the work of the 119th US Congress.

The race for Speaker was originally heading to a deadlock after Republican Reps. Keith Self, Ralph Norman and Thomas Massie opposed Mike Johnson’s attempt to retain the gavel by voting for other candidates. However, Representatives Norman and Keith eventually switched their votes to give Johnson the required 218 votes, more than 50%, to emerge as speaker.

Mike Johnson’s win was widely praised in the digital assets community, as was the re-elected speaker Previously supported Pro-crypto policies vote in favor of the Central Bank Digital Currency Control (CBDC) Act and the Financial Innovation and Technology for the 21st Century (FIT21) Act.

The Republican’s victory was even louder considering the Democratic candidate, Hakeem Jeffries, who emerged with 215 votes Against both Virtual assets legislation.

Commenting on Johnson’s win, Brad Garlinghouse, CEO of Ripple, said this Express a lot of joy.

Garlinghouse said:

Today, here in the United States, we welcomed the 119th Congress – known as the most pro-crypto Congress in history. The journey is just beginning, but you can’t deny the energy and excitement already building throughout the industry. Let’s get to work.

With Republicans in full control of the US Congress, including the Speaker of the House and majority seats in the House of Representatives and the Senate, President-elect Trump is expected to face little opposition in advancing his administration’s agenda that is supposed to include more crypto-friendly policies.

The crypto community is waiting for Trump

As Donald Trump’s inauguration approaches, members of the digital assets community continue to comment on the Republican administration’s commitment to delivering on campaign promises.

Trump’s vocal support for the cryptocurrency industry has increased optimism among investors following the billionaire’s victory in November. This is due to the US government’s high expectations for cryptocurrencies over the next four years.

One of Trump’s main promises is to adopt Bitcoin as a strategic reserve asset. CryptoQuant CEO Ki Young Joo described this idea as a possible position only given that an economic threat to the US dollar is currently absent.

However, Anthony Scaramucci, founder of SkyBridge Capital, supported the incoming administration to deliver on this Bitcoin reserve promise despite hinting at holding 500,000 BTC instead of the 1,000,000 BTC proposed by Senator Lummis.