Tech Desk 
Nov 14, 2024
Bitcoin has surpassed its $90,000 marker by reaching a new all-time high. On Wednesday, the world's largest cryptocurrency peaked at $93,480 before dropping to $88,185.
Since the November 5 elections, not only Bitcoin has increased by 32%, but it was followed by Ether rising 37% and Dogecoin surging over 150%.
Impact of Trump’s elections on Bitcoin, cryptocurrencies
Citing Damon Polistina, head of research at Eaglebrook, Reuters highlighted the potential of pro-bitcoin policies under the Trump administration, with theories suggesting that bitcoin is a strategic reserve asset for the US treasury.
Read more: Bitcoin nears all-time high of $90,000
Trump aims to make the US a “crypto capital of the planet” and wants to develop a national bitcoin reserve. Securities and Exchange Commission (SEC) is less expected to oversight the regulatory process under Trump.
Grayscale Investments Zach Pandl added that banks and other organisations might be more interested in public blockchain technology.
Moreover, on October 31 and November 10, MicroStrategy invested $2 billion in Bitcoin, and it shared its high record after the announcement. Trump and his sons in September launched a new crypto business titled "World Liberty Financial".
IG North America CEO JJ Kinahan said that Bitcoin could continue to gain momentum until Trump’s inauguration, whereas Hinkal Georgi Koreli warned that investors should be cautious of its potential volatility despite the possibility of hitting $95K or $100K soon.
