LONDON — The price of bitcoin hit a new high on Wednesday as investors bet that former President Donald Trump’s victory in the U.S. presidential election will be a boon for cryptocurrencies.
Bitcoin jumped nearly 8% to a record $75,345.00 in early trading, before falling back to about $73,500.00.
Trump was previously a crypto skeptic but changed his mind and took a favorable view of cryptocurrencies ahead of the election.
He pledged to make America “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted crypto fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies.
“Bitcoin is the one asset that was always going to soar if Trump returned to the White House,” said Russ Mould, investment director at AJ Bell, a British online investment platform. After touching its new high, the market is now speculating about “when, not if, it will smash through $100,000,” he said.
“Trump has already declared his love of the digital currency and crypto traders now have a new narrative by which to get even more excited about where the price could go,” Mould said.
Kareena Kapoor is working with Raazi director Meghna Gulzar for her next film. The project,…
2024-11-09 15:00:03 WEST LAFAYETTE -- Daniel Jacobsen's second game in Purdue basketball's starting lineup lasted…
2024-11-09 14:50:03 Rashida Jones is remembering her late father, famed music producer Quincy Jones, in…
2024-11-09 14:40:03 A silent German expressionist film about vampires accompanied by Radiohead’s music — what…
Let's face it - life can be downright stressful! With everything moving at breakneck speed,…
Apple’s redesigned Mac Mini M4 has ditched the previous M2 machine’s SSD that was soldered…