On Sunday, Bitcoin reached a new historic high, exceeding $80,000, propelled by the prospect of more favorable regulations for cryptocurrencies, particularly since the election of Donald Trump. The first digital currency by capitalization exceeded this threshold around 12:00 GMT to reach a high of 80,116 dollars, before falling slightly. It reached the $75,000 mark on Thursday, surpassing its record from last March, which stood at $73,797.98.
A policy reversal that boosts Bitcoin
Since the results of the American presidential election, its price has soared in unison with the dollar.
Donald Trump in fact pledged during his electoral campaign to make the United States “the world capital of bitcoin and cryptocurrencies”.
By posing as the champion of cryptocurrencies, the ex-businessman took the opposite view of the Biden government, considered to be in favor of strict regulation of a controversial sector, which largely escapes the control of institutions.
“There will be significant investments and the United States will have a strategic reserve of bitcoins,” Charles Morris, analyst at ByteTree, told AFP. According to him, “countries skeptical of cryptocurrencies, such as the United Kingdom where bitcoin-backed ETFs are still banned, will think again.” Same tone for Stéphane Ifrah, analyst at Coinhouse, for whom the American election will help give new impetus to bitcoin.
Memecoins are also benefiting from the wave
This trend is not just about bitcoins. Memecoins, for example, highly volatile parodic digital currencies, are also experiencing a boost, like dogecoin promoted by billionaire Elon Musk, a fervent supporter of Donald Trump.
“The chances of bitcoin and cryptocurrencies becoming a much larger asset class have increased significantly,” assures Charles Morris.
