It was the night of highs for cryptocurrencies. Between Tuesday November 5 and Wednesday November 6, the value of bitcoin reached its highest historical level, exceeding 75,000 dollars (70,000 euros) for the first time. Ether, the second major cryptoasset, also saw its value increase, approaching $2,600, as did “meme coins”, parody digital currencies including dogecoin, promoted by Elon Musk, fervent support of the Republican candidate.
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These surges reflect the confidence of the sector in the face of the results of the American elections. First because the Senate has shifted to the Republican camp: Democrat Sherrod Brown, who was in favor of greater supervision of cryptoassets, is replaced by Bernie Moreno, a 57-year-old former car dealer who is now an entrepreneur in the blockchain. Some 40 million dollars were also invested in cryptocurrencies to beat Mr. Brown, reports the American channel CNBC.
Added to this, of course, is the return of Donald Trump to the White House. “We are on the threshold of a new American Renaissance”for example, reacted Tyler Winklevoss on the social network X, while his brother Cameron encouraged, a few hours earlier, Internet users to slip a Trump ballot into the ballot box. The two founders of the Gemini cryptocurrency exchange platform are among the Silicon Valley personalities who financially supported the Republican candidate.
Patchwork de mesures pro-crypto
If the world of cryptoassets is jubilant at the idea of a new mandate from the former real estate mogul, it is in particular because the latter has not stopped giving it a leg up since May. Originally a virulent critic of bitcoin, the Republican has made a 180-degree turn, and is now seen as the champion of cryptoassets. “The United States will be the crypto capital of the planet”he assured, on July 27, on the stage of the Bitcoin Conference, organized in Nashville (Tennessee), in front of a cheering crowd.
Among the measures that the billionaire intends to take once re-elected: the abandonment of any digital dollar project, the dismissal of Gary Gensler (president of the American financial markets authority, renowned for his strict positions vis-à-vis the sector ), the creation of a strategic reserve of bitcoins by the American government… But also, more surprisingly, ensuring that the “mining” – that is to say the creation on the network – of bitcoins takes place only on American soil. This last idea had triggered perplexity, the mining process being by nature decentralized, and left a certain number of observers wondering about the former president's real understanding of the functioning of cryptoassets.
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