• Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt
No Result
View All Result
Card Bitcoin
Shop
Card Bitcoin
No Result
View All Result
Home Cryptocurrency

Bitcoin hits record above $75,000 as crypto industry celebrates Trump win

n70products by n70products
November 6, 2024
in Cryptocurrency
0
Bitcoin hits record above $75,000 as crypto industry celebrates Trump win
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


Unlock the White Home Watch e-newsletter free of charge

Your information to what the 2024 US election means for Washington and the world

Bitcoin surged to a document excessive on Wednesday as crypto traders celebrated the election victory of Donald Trump, who has pledged to make the US “the bitcoin superpower of the world”.

The world’s greatest cryptocurrency rallied greater than 7 per cent to an all-time excessive of $75,389 as Trump gained the race to the White Home. The milestone surpasses the earlier peak of $73,803.25, set in March, and lifted the costs of a number of different cryptocurrencies.

Senior crypto executives welcomed Trump’s decisive victory and a possible Republican “clear sweep” of US Congress as an opportunity to shift attitudes in the direction of the trade in Washington.

Trump positioned himself because the pro-cryptocurrency candidate, vowing to finish the trade’s perceived “persecution”, and to safe extra crypto-friendly laws within the US.

“The way forward for crypto has by no means regarded brighter than at this time,” mentioned Kris Marszalek, chief govt of alternate Crypto.com.

Bitcoin’s rise boosted the share costs of different crypto tokens. The value of ether rose 10 per cent to $2,661, whereas solana surged 12 per cent to $185. The value of meme token Dogecoin, favoured by Trump backer Elon Musk, jumped as a lot as 30 per cent to 22 cents, earlier than falling to twenty cents.

A victory for Trump comes as among the crypto market’s greatest traders in Silicon Valley spent closely on marketing campaign financing to advertise pro-crypto candidates. Amongst them have been enterprise capital agency Andreessen Horowitz and Gemini co-founders Tyler and Cameron Winklevoss.

“We’re on the point of a brand new American Renaissance,” mentioned Tyler Winklevoss. “The crypto military is placing!” he wrote on X.

Line chart of Price per coin ($) showing Bitcoin soars to record as Trump closes in on victory

“Tonight the crypto voter has spoken decisively,” mentioned Brian Armstrong, chief govt of crypto alternate Coinbase. “Individuals disproportionately care about crypto and need clear guidelines of the highway for digital belongings.”

Digital asset traders and executives are hoping that Trump will ship on a few of his election guarantees, together with to construct a US bitcoin strategic reserve and hearth Gary Gensler, the Securities and Trade Fee chair, who has been vilified by crypto fans.

His company has launched lawsuits in opposition to crypto firms together with exchanges Coinbase, Kraken and Crypto.com, blockchain software program firm Consensys and funds supplier Ripple Labs.

The election night time bump in bitcoin and different cryptocurrency tokens is an indication that the trade “is gaining confidence by the minute . . . that it’s going to face a impartial and even optimistic regulatory setting”, mentioned Matt Hougan, chief funding officer of Bitwise, a cryptocurrency fund supervisor.

Crypto miners’ shares additionally surged on the prospect of a Trump win, with the Republican candidate having beforehand vowed to make sure bitcoin mining takes place within the US. 

Shares in Riot Platforms, Marathon Digital and Core Scientific jumped 12, 9 and seven per cent respectively, whereas shares in alternate Coinbase surged 19 per cent. 

Jake Ostrovskis, an over-the-counter dealer at crypto market maker Wintermute, mentioned a Republican presidential win was “necessary as it will enhance the possibilities of crypto-related payments passing in Congress — a minimum of within the eyes of market members”.

Bitcoin’s features have been additionally propelled this week by inflows into US alternate traded funds that make investments immediately within the cryptocurrency. BlackRock’s fund, the market chief, has taken in additional than $2.4bn up to now week, bringing its whole belongings to greater than $30bn.

FT Edit

This text was featured in FT Edit, a day by day collection of eight tales to tell, encourage and delight, free to learn for 30 days. Explore FT Edit here ➼

Within the run-up to the election, Trump had additionally been selling a brand new crypto enterprise, World Liberty Monetary, from which he stands to earn important charges.

The decentralised finance platform has mentioned it would “leverage the worldwide attain and recognition of the Trump model” and has raised $15mn from promoting tokens that don’t supply patrons any possession stake and can’t be traded.

Some trade executives have voiced fears that the challenge will undermine makes an attempt to rebuild belief within the sector following years of high-profile collapses and frauds.

https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Faedb289f 9745 4d64 beaf 6222972517a7

Click here to go to Digital Asset dashboard



Source link

Tags: BitcoinCelebratesCryptohitsIndustryRecordTrumpwin
Previous Post

Bitcoin: How Donald Trump’s 11 crypto promises can shape BTC’s future

Next Post

Sui Ecosystem Altcoin Explodes 109% As Binance Announces Trading Support

Next Post
Sui Ecosystem Altcoin Explodes 109% As Binance Announces Trading Support

Sui Ecosystem Altcoin Explodes 109% As Binance Announces Trading Support

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Product categories

  • Bitcoin Book
  • Bitcoin Coin
  • Bitcoin Hat
  • Bitcoin Merch
  • Bitcoin Miner
  • Bitcoin Miner Machine
  • Bitcoin Shirt
  • Bitcoin Standard
  • Bitcoin Wallet
  • Products
  • Uncategorized

Related News

Ethereum Trading At 40-Month Lows Versus Bitcoin: Is This An Endorsement Of BTC?

Ethereum Trading At 40-Month Lows Versus Bitcoin: Is This An Endorsement Of BTC?

September 21, 2024
Trump To Quickly Replace Gary Gensler After SEC Chair Announces Departure

Trump To Quickly Replace Gary Gensler After SEC Chair Announces Departure

November 22, 2024
Bitwise Continues SEC Filing Spree With Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (BITC)

Bitwise Continues SEC Filing Spree With Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (BITC)

October 5, 2024

Recents

Major crypto hacks fell 40% in May, says PeckShield

Major crypto hacks fell 40% in May, says PeckShield

June 1, 2025
XRP Multi-Timeframe Breakdown: Here’s What Comes Next

XRP Multi-Timeframe Breakdown: Here’s What Comes Next

June 1, 2025
ETH Price Recovery to $3,000 Soon Amid Staking Push for Ethereum ETFs

ETH Price Recovery to $3,000 Soon Amid Staking Push for Ethereum ETFs

June 1, 2025

CATEGORIES

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

BROWSE BY TAG

Altcoin ALTCOINS Analyst Binance Bitcoin Bitcoins Blog Breakout BTC Bullish Bulls Coinbase Crash Crypto DOGE Dogecoin ETF ETH Ethereum Foundation Heres high hits Key Level Major Market Memecoin Move Outlook Predicts Price Rally Report SEC Solana Support Surge Target Top Trader Trump Updates Whales XRP

© 2024 Card Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt

© 2024 Card Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version