Donald Trump Wins Presidency, Fresh All-Time Highs for Bitcoin
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Donald Trump has secured a historic political comeback, reclaiming the presidency after defeating Vice President Kamala Harris in a contentious and closely watched election. With more than 270 electoral votes, Trump’s victory signals a significant shift in U.S. policy direction—especially for the cryptocurrency industry, which has been the target of regulatory scrutiny under the Biden administration. Bitcoin Hits $76,000 Bitcoin has been on a tear Wednesday, as the market roars its approval of the first openly crypto-friendly administration in the United States. As Cobie stated on X, “The investment thesis is becoming clear to many around the globe: the coin is orange and so is the president.” Source: Brave New Coin Bitcoin Liquid Index Meanwhile, Blackrock’s Bitcoin ETF saw a record volume of $1 billion today in the first 20 minutes. We expect monster flows when the data is released at end of day. Source: X And Bitcoin has now passed Meta to become the world’s 9th largest asset by market cap. Source: X Crypto at the Forefront: A Surprising Pivot While not a central issue in the broader election, cryptocurrency emerged as a notable topic in Trump’s campaign. His unorthodox approach to courting the crypto community included appearances at industry events, such as the Bitcoin Nashville conference, and even impromptu stops at crypto-themed bars where he handed out burgers. Trump’s message was clear: “Bitcoin isn’t just about technology; it’s about freedom and American innovation,” he told attendees at one rally. “We’re going to make sure the U.S. is the global leader in crypto, and we’re going to do it the right way.” In contrast, Kamala Harris offered only vague statements of support for technological innovation without delving deeply into crypto policy. This hands-off approach may have cost her the support of a burgeoning voter base passionate about decentralization and…
Filed under: News - @ November 6, 2024 11:27 pm