Historic: Bitcoin Surges Past $100,000 in Wake of Trump Win
The price of bitcoin has now hit an all-time high record of $101,000, a symbolic milestone that comes amid a wave of optimism in the cryptocurrency space following President-elect Donald Trump’s victory.
Bitcoin, the flagship cryptocurrency, punched above six figures on Wednesday. The new record is a remarkable increase from where the price of bitcoin was before Trump — who has touted himself as a defender of crypto — bested Vice President Kamala Harris to win the presidency.
A day before the election, a single bitcoin was worth about $68,000. The cryptocurrency has provided 47% return on investment in just a matter of days. Zooming out even further, bitcoin has vaulted up 124% in value since the start of the year, and 165% from this time last year.
If someone would have invested $5,000 in bitcoin just five years ago as the nascent crypto sector was starting to gain steam, their investment would have increased to $62,500.
Much of the recent increase can be tied to Trump’s win. Crypto advocates anticipate a much more friendly environment for bitcoin under Trump and for bitcoin to become even more institutionally accepted, a big departure from President Joe Biden, whose administration was seen as hostile to the industry. (Read more from “Historic: Bitcoin Surges Past $100,000 in Wake of Trump Win” HERE)
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