Kasei Digital Assets has seen a near-doubling in the value of its portfolio compared to last year as the crypto investor was boosted by the election of Donald Trump in the US.
The small-cap, Aquis-listed firm saw its total assets increased by 90% in 2024, from £1,434,003 in 2023 to £2,737,186, driven by a rise in bitcoin and ethereum prices.
Turnover increased by 34% in the period to end July 2024, rising from £40,519 in 2023 to £54,327.
Kasei said: “The 2024 US Presidential Election had a significant impact on the cryptocurrency industry, with clear distinctions between the pre- and post-election landscapes.
“The pre-election period was marked by significant regulatory uncertainty. The outgoing administration had taken a stricter stance on crypto, with increased scrutiny and enforcement actions. This created a sense of apprehension within the industry, hindering investment and innovation.
“The immediate post-election period saw a surge in crypto prices. This was largely driven by the victory of Donald Trump, who had campaigned on a platform of making the US the “crypto capital of the world.” This fuelled expectations of a more favorable regulatory environment and increased institutional adoption.”
But the firm cautioned: “While the overall landscape for crypto is improving and certain elements of it are gaining mainstream approval this has also resulted in increased competition and products offering exposure to the asset class. The company continues to assess the landscape in order to maximise shareholder value.”
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