The markets also like the American presidential election. Notably bitcoin, which surpassed the $75,000 mark for the first time last night, with a possible victory for Donald Trump in its sights. After having exceeded its last peak dating from last March ($73,797.98), the first digital currency by capitalization rose to $75,005 around 2 a.m., an increase of 8%.
It then caught its breath and was trading at $73,923 in the following minutes. Ether, another major digital currency, was trading at $2,585, up 6%.
Trump, best seller in crypto
The price of bitcoin soared in unison with the dollar in markets riveted to the first results of the election, including states won by Donald Trump with a margin judged to augur the final outcome of the election. “Markets are starting to bet on Trump’s return. He won by a larger margin than expected in Florida, a very populous state, which reinforces expectations of Republican scores better than expected elsewhere in the country, underlined Yugo Tsuboi, strategist at Daiwa Securities, cited by the Bloomberg agency.
The former president committed during the campaign to making the United States “the world capital of bitcoin and cryptocurrencies”, by imposing an extremely relaxed regulatory framework. By posing as the champion of cryptocurrencies, the businessman takes the opposite view of the Biden government, considered to be in favor of strict regulation of the sector, even if Democrat Kamala Harris tried to give pledges to reassure holders of cryptocurrencies.
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The “return to power (of Trump) would probably emphasize deregulation, tax incentives and economic policies favorable to alternative investments, such as bitcoin”, adds Nigel Green, at deVere.
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