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  5. Bitcoin reaches new record high above US$80,000

Bitcoin reaches new record high above US$80,000

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The value of bitcoin soared over the weekend, hitting a new all-time high of $81,899. This milestone marks a significant increase from its previous high of $73,797.98 in March, and represents an 80% gain for the year. This surge follows the news of Trump's victory, which was interpreted as a bullish sign by the crypto industry. In contrast to the S&P 500, which is up 25.7% this year, bitcoin's performance is remarkable. The crypto industry is optimistic about the future of bitcoin and other digital currencies, with some investors citing Trump's new crypto business, World Liberty Financial, as a contributing factor to the rise in value.

  1. US
    Citigroup
    1. ETF inflows have been the dominant driver of Bitcoin returns, and we expect this to continue in the near-term.
  2. DE
    Jonas Groß
    Digital Euro Association
    1. Bitcoin has established itself as a new asset class. The first pension funds are already investing, and in my view, it's only a matter of time before the first sovereign wealth funds enter the space. And then we're talking about an entirely different scale.
  3. DE
    Co-Pierre Georg
    Frankfurt School of Finance & Management
    1. Bitcoin is completely unsuitable for payments, and it's also not reliable as a stable investment. The only real reason to buy bitcoin is speculative.
  4. FR
    Marion Laboure
    Deutsche Bank
    1. The incoming Trump administration may lead to expedited regulatory clarity, enhanced institutional participation, improved market infrastructure, and broader mainstream adoption.
    2. Trump's pragmatic approach marks a clear departure from recent regulatory restrictions.
  5. GB
    Matt Simpson
    City Index
    1. Bitcoin's Trump-pump is alive and well... with Republicans on the cusp of taking the house to confirm a red wave in Congress, it seems the crypto crowd are betting on digital-currency deregulation.
  6. GB
    Susannah Streeter
    Hargreaves Lansdown
    1. Investors should only dabble in crypto with money that they can be prepared to lose.

Financial Markets Reactions to Trump Election

  1. US stock markets and bitcoin soar to new record highs in response to President Trump's election victory

sources

  1. 1.The Korea Herald
  2. 2.CTV News
  3. 3.DW News
  4. 4.The Times
  5. 5.The Guardian
  6. 6.Agence France-Presse
  7. 7.Associated Press
  8. 8.Reuters

perspectives

  1. 1.2024 US Presidential Election
  2. 2.Election
  3. 3.US Economy
  4. 4.Regulation
  5. 5.Banking industry
  6. 6.Cryptocurrencies
  7. 7.Environmental, social, and governance

countries

  1. 1.ChinaCN
  2. 2.Hong KongHK
  3. 3.El SalvadorSV
  4. 4.United StatesUS

organizations

  1. 1.Republican Party
  2. 2.TeslaUS
  3. 3.US Securities and Exchange CommissionUS
  4. 4.World Liberty Financial
  5. 5.CitigroupUS
  6. 6.Coinbase Global Inc
  7. 7.Democratic PartyUS
  8. 8.Deutsche BankDE
  9. 9.Federal Reserve SystemUS
  10. 10.City Index
  11. 11.Senate Banking Committee
  12. 12.S&P 500

persons

  1. 1.Donald TrumpUS
  2. 2.Gary Gensler
  3. 3.Elon MuskUS
  4. 4.Co-Pierre GeorgDE
  5. 5.Jonas GroßDE
  6. 6.Matt SimpsonGB
  7. 7.Sam Bankman-Fried
  8. 8.Sherrod Brown
  9. 9.Alex Saunders
  10. 10.Bernie Moreno
  11. 11.Dan IvesUS
  12. 12.David Glass

technicals

  1. 1.Bitcoin
  2. 2.Dogecoin
  3. 3.Ethereum
Bitcoin reaches new record high above US$80,000