Day: 11 November 2024

Bitcoin has achieved a new all-time high, surpassing $82,000, and has continued to climb.

This suggests that investors are confident the world’s leading cryptocurrency will gain even more, following U.S. elections that resulted in a significant number of pro-crypto candidates being elected.

During his campaign, President-elect Donald Trump vowed to make the United States the ‘crypto capital of the world.’

Trump reportedly committed to several initiatives for the crypto community, such as creating a national cryptocurrency reserve using $16 billion in Bitcoin accumulated by the U.S. government from asset seizures and from reducing interest rates.

Generally, an easing of monetary policy aligns with an increase in cryptocurrency prices, as it lowers the cost of borrowing money.

The Fed recently lowered U.S. interest rates for the second time this year.