On Sunday, November 10th Bitcoin surged past $80,000, setting a new all-time high. This marks an 80% rise in value for the world’s largest cryptocurrency this year, easily outpacing the S&P 500’s robust 25.7% gain in 2024. Many in the crypto sector view Donald Trump’s presidential win as a positive signal for Bitcoin and other digital assets.
Although Trump once dismissed Bitcoin as “based on thin air,” his stance has shifted significantly in recent months, contrasting sharply with the Biden administration’s regulatory approach.
In August, Trump remarked that cryptocurrencies “could shape the future,” emphasizing his vision for it to be “mined, minted, and made in the USA.” The president-elect has even proposed establishing a national Bitcoin reserve, akin to the strategic petroleum reserve, as part of a broader strategy to purchase and invest in cryptocurrencies as a matter of national security.
