Odaily Planet Daily reported that Auros Hong Kong Managing Director Le Shi stated: “The dust of Trump's victory has yet to settle, and given Trump's supportive views on cryptocurrency, a certain degree of increase is just a matter of time, which is exactly what we are seeing now.” Driven by strong demand for Bitcoin spot ETFs in the U.S. and the Federal Reserve's interest rate cuts, Bitcoin has risen about 90% so far in 2024, setting new records after the U.S. elections, outpacing the returns of investments such as stocks and gold. Digital asset companies and executives have invested heavily during the U.S. election to support candidates viewed as favorable to their interests, with Noelle Acheson, author of the “Crypto Is Macro Now” newsletter, stating: “Trump's commitment to support regulation, along with comprehensive support from the House and Senate, greatly increases the likelihood of cryptocurrency legislation passing.” (Bloomberg)

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