Bitcoin soars above $81,000 as Token becomes totem for Trump Era

Nov 10, 2024

Bitcoin soars above $81,000 as Token becomes totem for Trump Era

Nov 10, 2024

Bitcoin rallied past $81,000 for the first time, boosted by President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers.

Trump was declared the winner in Arizona, marking a clean sweep of the seven US battleground states. His decisive victory in the presidential election has prompted celebratory chest-thumping from the digital-asset industry, which spent over $100 million backing a range of crypto-friendly candidates.

The largest token climbed as much as 6.1% on Sunday, before extending the gain to an unprecedented $81,497 early in the Asian day on Monday. Bullish sentiment lifted smaller coins too, including a surge in Dogecoin, a meme-crowd favorite promoted by Trump supporter Elon Musk.


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“With the dust from Trump’s victory still settling down, it was only a matter of time before a run-up of some sort occurred given the perception of Trump being pro-crypto, and that’s what we’re seeing now,” said Le Shi, Hong Kong managing director at market-making firm Auros.

Trump vowed on the campaign trail to put the US at the center of the digital-asset industry, including creating a strategic Bitcoin stockpile and appointing regulators enamored with digital assets.

Jubilant traders for the moment are paying little heed to questions such as the speed of likely implementation or whether a strategic stockpile is a realistic possibility.

His broader agenda of stoking domestic economic growth, tax cuts and reducing red tape has fueled a buying spree across stocks, credit and crypto. The S&P 500 stock index last week hit its 50th record this year.

About the Author

End Time Headlines is a ministry founded, owned, and operated by Ricky Scaparo, established in 2010 to equip believers and inform discerning individuals about the “Signs and Seasons” of the times in which we live. Ricky authors original articles and curates news from mainstream sources, carefully selecting topics, verifying information, and utilizing artificial intelligence tools to ensure content is both timely and accurate. Every piece is personally reviewed and edited by Ricky to align with the ministry’s mission of providing a prophetic perspective on current events.

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