Why is Trump’s election as US president prompting a Bitcoin surge?
Bitcoin and other cryptocurrencies see record high on the expectation that Trump administration will be crypto-friendly. Bitcoin surged to a record high of $103550, gaining 30% in this week, following Donald Trump's election as U.S. president and his shift from crypto-skepticism to investing in cryptocurrencies. Dogecoin, supported by Trump ally Elon Musk, rose by 152%. Cryptocurrencies, known for their volatility and decentralized nature, continue to attract interest despite regulatory challenges globally.
💰What explains the crypto surge since Trump’s win?
Bitcoin surged to a record $103550 following Donald Trump’s election as U.S. president, with investors anticipating a crypto-friendly administration. Trump, once a crypto-skeptic, has embraced digital currencies, launching a DeFi platform, World Liberty Financial, and its cryptocurrency, $WLFI, with his sons. This move, alongside support from allies like Elon Musk, has fueled interest, with Dogecoin rising 152%. However, experts have raised concerns over potential conflicts of interest and the controversial origins of cryptocurrency markets, which initially facilitated illegal activities. Despite these criticisms, Trump’s pivot to crypto has boosted enthusiasm among pro-crypto supporters.
#MicrosoftBTCInvestmentVote #CryptoZombieUprising #Share1BNBDaily
