![图片[1]-Bitcoin broke $81,000 for the first time after Trump’s election victory.-OzABC](https://www.ozabc.com/wp-content/uploads/1668703111_bitcoin-sterling.jpg)
The cryptocurrency market appears to be reacting positively to Donald Trump’s election as president, with top cryptocurrency Bitcoin rising 6.7% over the weekend to break the $81,000 mark for the first time. According to the Business Standard, Bitcoin continued to set new highs on Monday, reaching $82,300.
In stark contrast to incumbent President Biden’s policies on cryptocurrencies, President-elect Donald Trump has consistently demonstrated support for cryptocurrencies and other digital assets. In fact, during the Bitcoin 2024 conference, Trump pledged to make the United States the “crypto capital of the world” and positioned Bitcoin as a global superpower.
Not only Bitcoin rose, but smaller currencies like Dogecoin (a memecoin favored by Elon Musk, one of Trump’s elite supporters) also saw some gains. Tech mogul Elon Musk reportedly invested approximately $1.5 billion in Bitcoin in 2021, and his overall wealth could increase further, as some analysts predict that Bitcoin could reach $100,000 under favorable conditions under the new administration.
The popular cryptocurrency Bitcoin has experienced both highs and lows. Recently, despite some positive events, including the U.S. Securities and Exchange Commission’s (SEC) approval of a spot Bitcoin ETF in February and the Bitcoin halving in April, the price of Bitcoin has been fluctuating within a range of around $50,000 to $70,000.
Bitcoin is experiencing strong growth, having increased by 94% year-to-date in 2024. Thanks to this recent boost, Bitcoin’s returns have surpassed those of investments such as stocks and gold. Trump also pledged during his presidential campaign to establish a strategic Bitcoin reserve, while his agenda of tax cuts and deregulation has fueled a buying frenzy for stocks, bonds, and cryptocurrencies.
感谢您的支持
