Bitcoin Surges to Record High of $80,000 Amid Trump-Driven Optimism
London, Nov 10: Bitcoin reached an all-time high of $80,000 on Sunday, buoyed by speculation that Donald Trump’s return to the White House could benefit cryptocurrencies. The milestone was achieved just after 12:00 noon (1200 GMT).
The cryptocurrency has been on an upward trajectory since Republican candidate Trump won last Tuesday’s US presidential election, with hopes of relaxed regulations fueling investor optimism. Bitcoin initially broke its previous record of $73,797.98, set in March, by reaching $75,000 last Wednesday.
Trump, previously critical of cryptocurrencies during his first presidential term, has since shifted his stance, launching his own digital platform and promising to position the United States as the “Bitcoin and cryptocurrency capital of the world.” He also pledged to appoint Elon Musk to oversee a comprehensive audit of government expenditures.
Market trends suggest that corporate tax cuts and liquidity measures from Trump’s earlier term could have spurred interest in high-growth assets like Bitcoin. Despite this, Trump’s September-launched platform, World Liberty Financial, saw limited early sales success.
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