Bitcoin price soars to new record high on Wednesday as Trump leads in election
Bitcoin price soars to new record high on Wednesday as Trump leads in election . (MENAFN) Bitcoin soared to a new record high in early Wednesday trading as market participants closely tracked the progress of Republican presidential candidate Donald Trump, who pulled ahead of ...
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(MENAFN) soared to a new record high in early Wednesday trading as market participants closely tracked the progress of Republican presidential candidate Donald Trump, who pulled ahead of Democratic Contender Kamala Harris. According to CoinMarketCap, a cryptocurrency data platform, Bitcoin surged over 7.8 percent, reaching a peak of USD75,000 per unit. This price surpassed Bitcoin's previous record set in March, during a rally following the launch of Bitcoin exchange-traded funds (ETFs) on the US stock exchange, which pushed the price to USD73,200.



The cryptocurrency market reacted as Trump gained early momentum over Harris, particularly in key swing states like Georgia and North Carolina. As results came in, Ethereum, the second-largest cryptocurrency, saw its price rise by 6.5 percent, while Dogecoin, also known as Doge and supported by Trump ally Elon Musk, surged by 18 percent. The political landscape has increasingly influenced cryptocurrency movements, with Bitcoin notably associated with Trump due to his pro-digital asset stance.



Cryptocurrencies have grown in prominence within political discussions, with many investors now viewing Bitcoin as a "Trump trade" amid the Republican candidate's support for digital assets. Trump's endorsement of cryptocurrencies has been clear throughout his campaign, contrasting with other candidates who have shown more caution or regulatory concern towards these assets. His campaign’s embrace of crypto has sparked optimism among cryptocurrency supporters who see his leadership as a pathway to favorable policies.



If elected, Trump has promised to establish the United States as a global hub for cryptocurrencies. His proposed plans include creating a strategic Bitcoin reserve and appointing regulators inclined to support the growth of digital assets. These commitments, according to Anadolu Agency, highlight Trump's intentions to foster a supportive regulatory environment for cryptocurrencies, further solidifying his standing as a pro-crypto candidate among digital asset investors.

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https://menafn.com/1108855479/Bitcoin-price-soars-to-new-record-high-on-Wednesday-as-Trump-leads-in-election
2024-11-06
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(MENAFN) Bitcoin soared to a new record high in early Wednesday trading as market participants closely tracked the progress of Republican presidential candidate Donald Trump, who pulled ahead of ...
Bitcoin price soars to new record high on Wednesday as Trump leads in election