Bitcoin and other cryptocurrencies have witnessed a significant surge in value following Donald Trump's victory in the U.S. presidential election. Trump's pro-crypto stance and plans to explore Bitcoin as a strategic reserve asset have fueled market optimism.
Cryptocurrency markets have soared since Donald Trump won the U.S. presidential election in November.The asset climbed from $69,374 on Election Day, hitting as high as $106,490 last week, largely accelerated by Trump's win and his pledge to make the country 'the crypto capital of the planet.
' The cryptocurrency rose six figures earlier this month, just hours after the president-elect said he intends to nominate cryptocurrency advocate Paul Atkins to be the next chair of the Securities and Exchange Commission. 'I think Trump is probably the most pro-Bitcoin presidential candidate or even political candidate in the world,' Adam O’Brien, the CEO of Bitcoin Well, told LiveNOW from FOX last month, adding, 'And he has outright said that he's going to look at putting Bitcoin as a strategic reserve asset on the U.S. balance sheet, and I think that's an incredible move.' According to Coinbase, cryptocurrency is typically decentralized digital money designed to be used over the internet. Bitcoin, which launched in 2008, was the first cryptocurrency, and it remains by far the biggest, most influential, and best-known. In the decade since, other assets like ethereum, XRP, tether and dogecoin have also gained popularity.Some investors see cryptocurrency as a 'digital alternative' to traditional money, but most daily financial transactions are still conducted using fiat currencies such as the dollar. Also, bitcoin can be very volatile, with its price reliant on larger market conditions.Trump, who was once a crypto skeptic, has pledged to create a 'strategic reserve' of bitcoin. His campaign accepted donations in cryptocurrency, and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies. 'I think that Bitcoin has a habit of surprising people. It goes higher than you think it will, and then it falls faster than you think it will,' O’Brien continue
CRYPTOCURRENCY BITCOIN DONALD TRUMP INVESTMENT MARKET TRENDS
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