Cryptocurrency barons have been cheering loudly in recent days. Bitcoin is soaring with its price and breaking its records for maximum valuation.
The most famous cryptocurrency Bitcoin has held “stable” around the $65,000 mark in recent months. But it experienced a big boom with the election of the new US President Donald Trump – the reason is his promises during the election campaign. Trump promised that he would fundamentally support cryptocurrencies, reduce regulations, and himself was supposed to fit the role of “crypto-president”.
A big point in investor confidence is also the initiative that the Republicans presented in the so-called The Bitcoin Act of 2024, which proposes that Bitcoin be included in the US strategic reserves. This includes a purchase program of 200,000 bitcoins per year for five years – the US could theoretically hold up to a million bitcoins if this initiative is approved. With the maximum possible amount of 21 million bitcoins, this act would thus strongly consolidate the position of the entire cryptocurrency community.
It was these plans that supported the price of Bitcoin, which broke through the $80,000 mark within a few days and broke the previous record of $85,000 yesterday. During today, the price came very close to the $90,000 mark, with some analysts predicting a rise to the magical $100,000. However, due to the volatility of the currency, it is difficult to predict where the growth will stop.
But some users point out that Trump could turn around after his campaign. On the contrary, the incoming US president previously criticized cryptocurrencies and stood against them, as the tweet below shows, for example.
Source: pctuning.cz
