Cryptocurrency Market Buzzes with Expectation of Trump’s Victory in US Presidential Elections, Bitcoin Crosses $75,000 Mark
New Delhi, 6th November 2024: The cryptocurrency market is witnessing a significant surge, fueled by the possibility of Donald Trump’s victory in the US Presidential Elections. Bitcoin has crossed the $75,000 mark for the first time. Bitcoin investors believe that Trump’s policies will be more favorable for the cryptocurrency market and anticipate that, if Trump wins, the price of Bitcoin will rise even further.
Donald Trump has frequently discussed his vision of making America the “crypto capital” in his election rallies. This message has resonated with cryptocurrency investors, particularly among the youth. Alongside Trump, his staunch supporter and Tesla owner, Elon Musk, is also a strong advocate of cryptocurrency. In the United States, approximately 16% of the population invests in cryptocurrency, a segment that could have a significant impact on the election results.
Elon Musk, one of the world’s wealthiest businessmen, holds substantial investments in Bitcoin, Ethereum, Dogecoin, and Shiba Inu. According to media reports, Musk has invested $140 million in Bitcoin through his electric car company, Tesla. Musk has also personally invested in Ethereum and Dogecoin.
Bitcoin prices rose by more than 9% on November 6th. At one point, the price surpassed $75,000 before experiencing a slight correction. By around 10 a.m., Bitcoin was trading at $74,263.27, showing a jump of 7.03%. Over the past month, Bitcoin’s price has increased by 20.28%, and over the past year, it has surged by a staggering 112%.
Bitcoin is the world’s most popular cryptocurrency. Also known as virtual or digital currency, it does not involve any physical coin or note but is an online version of currency. It can be used for products or services, although very few platforms currently accept it. Some countries have completely banned cryptocurrency.
