Donald Trump, the Republican candidate, has been elected as the 47th President of the United States. This victory, expected to have widespread impacts on the social, political, and cultural sectors of the U.S. and the world, will play a decisive role in the global economy and markets. With Trump’s victory in the U.S. presidential election, he will assume office on January 20, 2025, after the inauguration ceremony, along with his Vice President, J.D. Vance, taking over from the Democratic administration of Joe Biden and Kamala Harris.
Trump repeatedly supported cryptocurrencies throughout his campaign, even speaking at the Bitcoin 2024 conference. He received millions of dollars in campaign contributions from prominent figures in the cryptocurrency space and garnered support from voters and industry leaders with his promises to advance cryptocurrencies and Bitcoin mining in the U.S. J.D. Vance, Trump’s Vice President, is also a strong Bitcoin advocate and, according to CBS News, holds between $250,000 and $500,000 worth of Bitcoin. As a senator from Ohio, Vance frequently voiced support for Bitcoin and cryptocurrencies.
Bitcoin Surpasses $80,000!
The price of Bitcoin has continued its upward trend, breaking through the $80,000 resistance level—a significant milestone for this cryptocurrency. It remains to be seen whether Bitcoin’s price will stabilize above this level in the coming hours. Pentoshi, a prominent analyst who accurately predicted the end of the 2021 bull run, believes that with institutional investors entering the market and global adoption increasing, Bitcoin’s price will not fall below $50,000 again. He also noted that BlackRock’s Bitcoin ETF assets have now surpassed those of the company’s gold ETFs, and he expects Ethereum (ETH) to perform well in the coming weeks.
What Impact Will Trump’s Victory in the U.S. Election Have on Bitcoin’s Price?
