Home News Bitcoin surges to $82,000 as post-Trump win optimism grows

Bitcoin surges to $82,000 as post-Trump win optimism grows

2 min read
0
0
14

Bitcoin rallied to an all-time high of over $82,000, as the cryptocurrency market surged on news of President-elect Donald Trump’s win and his administration’s anticipated support for digital assets.

Trump secured victory in Arizona, sweeping all seven US battleground states, and his stance on crypto-friendly policies has sparked renewed enthusiasm among investors.

The largest cryptocurrency jumped by 6.1% on Sunday, further climbing to reach $82,300 as of 10:21 a.m. Monday in London.

The market’s optimism lifted other tokens as well, including Dogecoin, a meme-based coin popularized by billionaire Elon Musk, a Trump supporter.

“With the dust from Trump’s victory still settling, it was only a matter of time before a run-up of some sort occurred given the perception of Trump being pro-crypto,” commented Le Shi, Hong Kong managing director at market-making firm Auros.

Trump’s campaign promises to prioritize the US digital-asset sector—including a strategic Bitcoin stockpile and pro-crypto regulatory appointments—have invigorated the industry.

Cryptocurrency supporters contributed over $100 million to back crypto-friendly candidates, hoping to see swift regulatory advances.

The President-elect’s broader agenda of tax cuts, reduced regulatory barriers, and growth-focused economic reforms has also spurred gains across stocks, credit, and crypto markets. The S&P 500 reached its 50th record high of the year last week, reflecting the market’s buoyant response to Trump’s pro-business policies.

As Trump’s transition team begins, traders remain optimistic, pushing aside concerns about the feasibility or timeline for implementing his crypto-related pledges.

 

  • Access Bank refutes reports of launching Bitcoin bank

    Nigeria’s leading financial institution, Access Bank Plc has reacted to the report circula…
Load More Related Articles
Load More By Breezynews
Load More In News

Leave a Reply

Your email address will not be published.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

Check Also

Ondo poll: INEC to begin distribution of sensitive materials Thursday

The Independent National Electoral Commission has announced that it will begin the distrib…