Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Bitcoin hits record $94,000 as trump vows to make us ‘crypto capital’

by November 21, 2024
November 21, 2024
Bitcoin hits record $94,000 as trump vows to make us ‘crypto capital’

The price of bitcoin soared to a record high of $94,839, extending a rally that has seen its value surge by nearly 40% since Donald Trump’s re-election victory.

The digital currency, worth $7,333 five years ago, has benefited from optimism surrounding a potentially crypto-friendly regulatory environment during Trump’s second term.

Once a sceptic of cryptocurrencies, Trump has pledged to transform the US into “the crypto capital of the planet” and establish a “strategic reserve” of bitcoin. His campaign actively accepted cryptocurrency donations, and he engaged with crypto enthusiasts at a bitcoin conference in July. Trump has also launched World Liberty Financial, a venture with family members focused on cryptocurrency trading.

Trump’s victory has prompted Republicans to invite crypto leaders to Washington for discussions on a new crypto policy framework. Industry executives are hopeful that Trump will deliver on promises to enact legislative and regulatory changes, including his commitment to remove Gary Gensler, the chair of the Securities and Exchange Commission (SEC), who has been spearheading the government’s crackdown on cryptocurrencies.

Stéphane Ouellette, CEO of crypto trading firm FRNT Financial, commented: “Trump’s seeming interest to push further into crypto on a personal level has contributed to optimism that crypto will be a top priority when Trump takes office.”

US bitcoin exchange-traded products have also seen a boost, with $4.2 billion in inflows since Trump’s victory—accounting for 15% of total inflows since these products launched on US stock exchanges earlier this year.

Chris Weston, head of research at Australian broker Pepperstone, noted the potential for further growth: “Another kick higher should bring in a fresh chase from those who like to buy what’s strong.”

The crypto community is cautiously optimistic about Trump’s pro-crypto stance, seeing it as an opportunity to solidify the US as a global hub for digital currencies. However, critics warn that bitcoin’s notorious volatility and speculative nature may present risks for both investors and broader economic stability.

Bitcoin, created in 2008 by the mysterious figure Satoshi Nakamoto, has no physical form and was initially worth almost nothing. Over the years, its adoption and popularity have grown, though its price remains highly volatile. With Trump’s endorsement and promises of a supportive policy environment, the cryptocurrency has found fresh momentum.

Read more:
Bitcoin hits record $94,000 as trump vows to make us ‘crypto capital’

0
FacebookTwitterGoogle +Pinterest
previous post
Comer to create DOGE subcommittee chaired by Marjorie Taylor Greene to work with Elon Musk, Vivek Ramaswamy
next post
Santander UK sets aside £295m for car finance scandal

You may also like

Thousands of UK Boeing jobs at risk as...

October 13, 2024

Why Cloud Services Are Vital for Business Agility...

July 30, 2023

Used car sales climb as consumers shy away...

November 7, 2024

New EV discount scheme offers up to £3,750...

July 15, 2025

How to prevent identity theft? A UK business...

November 29, 2022

Motherhood ‘has driven 250,000 women out of jobs’

November 6, 2023

Highest Payout Non GamStop Casino Sites

August 9, 2024

In Conversation with Roland Sanchez-Medina: A Legal Career...

May 20, 2025

Corporate law and securities regulation in the UK

July 31, 2025

Secrets of Success: Branwell Moffat,  Founder and Director...

November 29, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • America’s Not-So-Secret Secret Police

      August 7, 2025
    • Poll: Nearly 1 in 4 Americans Think They Have a Personal Social Security Account

      August 7, 2025
    • Republican senator claims RFK Jr. mRNA vaccine decision undermines Trump agenda

      August 7, 2025
    • Who is Anita Dunn? The Biden confidante who clashed with Hunter grilled in House autopen probe

      August 7, 2025
    • Case v. Montana Brief: Limit Loopholes to the Fourth Amendment

      August 7, 2025
    • Trump opens $9tn US retirement market to crypto in landmark executive order

      August 7, 2025

    Categories

    • Business (8,704)
    • Investing (2,184)
    • Politics (16,333)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved