Trump’s Third Term Fuels Bitcoin Surge Past $90K with Pro-Crypto Policies

Bitcoin is approaching a milestone value of $90,000, soaring over 25% since Donald Trump secured his third US presidential election victory on November 5, 2024. The rally, dubbed the "Trump trade," stems from investor optimism about Trump’s pro-crypto stance, including promises to make the US a global crypto leader and establish a national Bitcoin reserve. This speculative confidence has significantly influenced Bitcoin’s recent performance, pushing its price to a new high of $89,637 in Asia.

Trump’s administration hints at favorable crypto policies, further driving market enthusiasm. For instance, Trump introduced a family project, World Liberty Financial, featuring a new token, WLFI, which has garnered considerable attention. Market experts like Nick Twidale from ATFX Global suggest that Trump’s support for the crypto industry will elevate demand for both cryptocurrencies and crypto-related stocks.

Ripple Effects on Crypto-Related Stocks

The positive sentiment surrounding Bitcoin extends to other cryptocurrencies and stocks with strong crypto ties. Notably, Tesla, led by Trump’s ally Elon Musk, has surged nearly 40 percent post-election. Bitcoin mining companies Riot Platforms and MARA Holdings have seen significant growth, with Riot Platforms experiencing a 17 percent rise in one session. CleanSpark and MicroStrategy stocks have also increased significantly.

Speculation about Trump’s future crypto policies and his intent to replace SEC Chair Gary Gensler, who has been criticized for his stringent crypto regulations, further fuels discussions about Bitcoin’s potential as a stable and politically preferred asset. Investors are closely monitoring Trump’s next moves, which will likely shape the future of digital assets in the US.

In summary, Trump’s election win sparked a remarkable rally in Bitcoin and related markets, driven by optimism about his crypto-friendly promises. This led to significant price gains across the crypto sector, with a broader market rally encompassing cryptocurrencies and stocks linked to the cryptocurrency market. Investors continue to watch Trump’s administration for forthcoming crypto initiatives that could profoundly impact digital assets.

Explore more

HR Executive Pay Soars 18% Amid Strategic Importance

In a business landscape increasingly shaped by technological disruption and workforce transformation, the role of human resources leaders has taken on unprecedented significance, as evidenced by a striking surge in their compensation. Recent data reveals that median total pay for top HR executives has climbed by an impressive 18%, reflecting a growing recognition of their strategic value in navigating complex

How Is Zurich Revolutionizing Fraud Detection with AI?

Introduction Fraud in the insurance industry costs billions annually, with sophisticated schemes often slipping through traditional detection methods, leaving companies and honest customers to bear the burden of inflated premiums and delayed claims. This pressing challenge has pushed insurers to seek innovative solutions to stay ahead of fraudsters who continuously adapt their tactics. The focus of this FAQ article is

Trend Analysis: Digital Transformation in Insurance Underwriting

The insurance sector stands at a critical juncture where technology is no longer just an enabler but a fundamental driver of change, particularly in underwriting, where decisions on risk can make or break profitability. Digital transformation has emerged as a cornerstone for navigating the increasingly intricate risk landscapes of today’s global markets, enabling insurers to process vast data sets, enhance

Mozilla Pledges Long-Term Firefox Support for Windows 10

When millions of users boot up their devices each day, many still rely on Windows 10, an operating system that powers a vast swath of personal and professional tech worldwide. Yet, with Microsoft dialing back its focus on this platform, a pressing question looms: who will safeguard these users from emerging digital threats? Mozilla has stepped into the spotlight with

Insured.io Launches AI Virtual Agent for Mid-Sized Insurers

This guide aims to help mid-sized insurance carriers improve customer engagement and streamline operations by implementing Insured.io’s innovative AI-powered virtual agent. By following the steps outlined, insurers can achieve cost-effective automation, enhance policyholder interactions, and maintain a competitive edge in a digital-first landscape. The purpose is to provide a clear, actionable roadmap for adopting this technology to address the pressing