Bitcoin’s Moment
Bitcoin’s climb past the $100,000 mark is a watershed moment in the evolution of crypto-currencies, symbolising their growing acceptance as a legitimate asset class.
For the first time, Bitcoin rallied past $82,000 boosted by President-elect Donald Trump’s embrace of digital assets.
On Monday, as of 10:21 a.m. in London, Bitcoin extended gains to hit an unprecedented $82,300 while on Sunday, the largest token climbed as much as 6.1%.
Advertisement
With a market cap of $1.16 trillion, Bitcoin now ranks among the top 10 global financial assets, surpassing major corporations like Visa.
Advertisement
Post US election results, bullish sentiment lifted smaller coins too, including Dogecoin.
Notably, Bitcoin has added about 94% so far in 2024, helped by robust demand for dedicated US exchange-traded funds and interest-rate cuts by the Federal Reserve.
According to data compiled by Bloomberg, the ETFs posted a record daily net inflow of almost $1.4 billion on Thursday.
President-elect Donald Trump promised on the campaign trail to turn the United States into the crypto capital of the planet.
Trump was declared the winner in Arizona, marking a clean sweep of the seven US battleground states.
For the week, Coinbase shares jumped 48%, registering strongest performance since January 2023.
Coinbase was one of the top corporate donors in the election cycle, giving more than $75 million to Fairshake and its affiliate PACs, including a fresh pledge of $25 million to support the pro-crypto super PAC in the 2026 midterms.
Advertisement
Related posts
Christopher Wood plans to book profit in Bitcoin once it hits USD 1,50,000
Christopher Wood, global head of equity strategy at Jefferies, plans to book profit in bitcoin once it hits the USD 1,50,000 mark, up nearly 53% from the current levels of USD 98,300 levels.
“ECI should take immediate action”: BJP leader Vinod Tawde on alleged “bitcoin scam”
After a row erupted over an alleged "bitcoin scam" linked to the Maharashtra Assembly elections, BJP leader Vinod Tawde said that the Election Commission of India (ECI) should also take immediate action against the Maha Vikas Aghadi (MVA) leaders Supriya Sule and Nana Patole "on the basis of viral audio and chat."
