Price has more than doubled in a year as traders hope Trump will favour crypto when he returns to White House
The price of bitcoin has risen above $87,000 for the first time as it benefited from traders’ hopes that Donald Trump will favour cryptocurrencies when he returns to the White House.
Bitcoin reached a record high of $87,198, before slipping back slightly on Monday. The price has more than doubled from about $37,000 12 months ago.
The election has also affected traditional currency markets, individual stocks – most notably Elon Musk’s electric car company, Tesla – and broad US equity markets, as investors bet on deregulation and tax cuts from Trump.
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Source: https://www.theguardian.com/technology/2024/nov/11/bitcoin-price-tops-81000-trump-cryptocurrencies
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