Price of bitcoin hits all-time high as Trump victory sinks in
The price of bitcoin hit an all-time high this weekend, a rally that started shortly after Donald Trump was declared the winner of the 2024 election.
The price of bitcoin hit an all-time high this weekend, a rally that started shortly after Donald Trump was declared the winner of the 2024 election.
Major indexes showed bitcoin's price hitting more than $82,000 Monday morning. That's up from $68,000 last Tuesday, Election Day in the U.S.
Year to date, bitcoin has gained more than 85%, though most of those gains came in the early part of the year. From March to November, the price has been mostly confined to a range of $50,000 to $70,000.
Trump's election has been heralded by some as a positive sign for the prices of bitcoin and other cryptocurrencies. He has promised to quash the aggressive stance taken by the current leadership of the Securities and Exchange Commission against cryptocurrency firms and products it has deemed potentially harmful to investors.
Trump has also signaled interest in creating a strategic U.S. reserve of bitcoin and has many crypto-friendly advisers to his incoming administration, including Robert F. Kennedy Jr., Elon Musk and Vivek Ramaswamy, an entrepreneur who last week announced that he was incorporating bitcoin into his asset management service.
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