What is the "Trump Trade"?
The Trump Trade is named after the simultaneous surge in U.S. stocks, Treasury yields and the dollar following his victory in the 2016 presidential election. If Trump wins the U.S. election in November, Bitcoin is expected to hit new highs later this year, and the cryptocurrency could soar to $90,000 by the fourth quarter.
At Bitcoin's current price of about $57,000, this means there is about 58% upside. Bitcoin peaked just below $74,000 in March. Trump's recent support for the crypto industry suggests that a potential Trump administration will be more friendly to digital assets than a Harris administration.
In July, Trump said in a speech at the Bitcoin 2024 Conference, the largest annual conference for the cryptocurrency industry, that if he could return to the White House, he would list Bitcoin as a U.S. strategic reserve asset.
In late August, he posted a video to his 90 million followers on X saying that he planned to make the United States "the cryptocurrency capital of the earth."
