Categories: Bitcoin Latest News

Thank You Donald Trump for Bitcoin’s All-Time High

Follow Nikolaus On X Here

Just as I called it a few weeks ago, the election was too big to rig. I said the outcome of the election would dictate when we see a new Bitcoin all-time high. My argument was that if Trump won, we would see Bitcoin rise to a six figure price and if Kamala won, BTC would have dumped hard.

But thankfully, pro-Bitcoin Donald Trump swept the election, winning all swing states and the popular vote. His anti-Bitcoin opponent lost in dramatic fashion, and now it’s off to the races for Bitcoin’s price. Even CNBC is reporting on this as the “post-election rally.”

Trump’s proposed policies for Bitcoin has propelled bitcoin’s price upward — it’s now up over 22% since last week. If Trump had lost, the price of BTC would have most likely plummeted due to Harris’ unfavorable policy around Bitcoin and overall horrible policy around financial markets in general — like wanting to tax unrealized gains.

Now, we’re past that, though, and we have a President-elect that is going to champion Bitcoin innovation, support the industry and has pledged to work with congress and the senate to approve and establish a Strategic Bitcoin Reserve. In addition to that, MicoStrategy is raising $42 billion to buy more bitcoin and Bitcoin ETFs are on an accumulation rampage (BlackRock’s ETF did $1 billion in volume in just 35 minutes this morning) — and it feels like no one is selling.

WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE 🇺🇸 🇺🇸 🇺🇸

— Senator Cynthia Lummis (@SenLummis) November 6, 2024

Oh, and on top of all that, Ross Ulbricht is going to be a free man on day one of Trump’s presidency. We are winning on every single front now.

So, thank you President Trump for saving us from the Democrats’ war on Bitcoin, from four more years of their continued attack on this industry and, of course, for bitcoin’s price making new all-time highs (we just hit $85,000! Let’s go!)

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

Read More[#item_full_content]Bitcoin Magazine – Bitcoin News, Articles and Expert Insights

Recent Posts

Senior Federal Reserve Official Who Blasted Bitcoin Now Says He’ll Have an Open Mind

Minneapolis Federal Reserve President Neel Kashkari, who previously called the cryptocurrency industry "worthless" and "nonsense,"…

35 mins ago

Bitcoin May Hit $100,000 Faster Than Expected

Follow Nikolaus On X Here It’s been just over seven days since Trump was re-elected…

35 mins ago

Bitcoin Traders Pile Into $100K CME Options as Price Climbs Through $93K: CF Benchmarks

BTC blasted through the $90,000 resistance level on Wednesday, defying the dollar strength.Read MoreCoinDesk: Bitcoin,…

2 hours ago

Beating Bitcoin

Crypto market returns today exhibit a power law distribution, where a few top performers can…

2 hours ago

Bitcoin Surges to New Record Over $93K as Strong U.S. Demand Crushes Resistance Level

Bitcoin is leading the broader crypto market higher, outperforming the CoinDesk 20 Index with its…

2 hours ago

I Bought Bitcoin Today – And Felt Nothing

I looked at my wallet and saw a sad six digits.  It used to be…

2 hours ago