Bitcoin leaps to record high as traders lean towards Trump victory

Bitcoin leaps to record high as traders lean towards Trump victory

November 6, 2024   06:33 pm

Bitcoin surged to a record high in Asian trade as investors leaned towards Donald Trump winning the U.S. presidential election.

The world’s biggest cryptocurrency rose 7% to $75,060, topping March’s peak, with the prospect of Trump’s return to the White House seen ushering in a softer line on cryptocurrency regulation.

Republican Trump won 15 states while Democrat Kamala Harris captured seven states and Washington, D.C., Edison Research projected, and though the race remained too early to call financial markets began moving in the Asia session to price a victory for the former president.

Matthew Dibb, chief investment officer at cryptocurrency asset manager Astronaut Capital, said markets expected a change in attitude at the U.S. Securities and Exchange Commission to remove a choke point for crypto innovation and speculation.

“(A) Democrat win would have felt like a short-term nail in the coffin,” he said. 

“Probably not the case long term but the market is placing high importance on it.”

Smaller cryptocurrency ether also jumped 7.5% but at $2,593 remained well below its 2021 high of $4,867.

Source: Reuters
--Agencies 

Disclaimer: All the comments will be moderated by the AD editorial. Abstain from posting comments that are obscene, defamatory or slanderous. Please avoid outside hyperlinks inside the comment and avoid typing all capitalized comments. Help us delete comments that do not follow these guidelines by flagging them(mouse over a comment and click the flag icon on the right side). Do use these forums to voice your opinions and create healthy discourse.

Most Viewed Video Stories

LIVE🔴 Ada Derana Prime Time News Bulletin 6.55 pm

LIVE🔴 Ada Derana Prime Time News Bulletin 6.55 pm

LIVE🔴 Ada Derana Lunch Time News Bulletin 12.00 pm

TV Derana awarded 'Service Brand of the Year 2024' at 'SLIM Brand Excellence 2024' Awards (English)

US sanctions Kapila Chandrasena and Udayanga Weeratunga over corruption (English)

Sri Lanka receives China's fabric grant for 2025 school uniforms (English)

ADB approves USD 30 million financing facility for Sri Lanka's CEB (English)

LIVE🔴 Ada Derana Prime Time News Bulletin 6.55 pm

LIVE🔴 Ada Derana Lunch Time News Bulletin 12.00 pm