Bitcoin reached a record value following Trump’s win, which has boosted investor optimism.
Forecasters predict the token could hit $100,000 by January as interest for crypto rises.
Trump’s favorable stance is raising hopes for new policy changes favoring digital assets.
The BTC price surged to a record $75,060 on Wednesday, shortly after his nomination in the U.S. presidential race. The stock market quickly responded to Trump’s win as a probable turning point for digital asset markets with high expectations for policy changes.
Experts Forecast Bitcoin Reaching $100,000 by Trump’s Inauguration
Journalist Mackenzie Sigalos reported that analysts expect Bitcoin to see even greater gains in the near term. Many experts now believe the asset could hit $100,000 before Trump’s inauguration in January 2025. Research firm Copper Research shares this view and points to the rising demand for U.S. BTC exchange-traded funds as a primary driver.
https://twitter.com/bitcoinlfgo/status/1854183927864557646
The firm revealed a record inflow of $621 million into Bitcoin ETFs on Wednesday, which indicates rising interest from investors seeking digital asset exposure. Copper Research also suggests U.S.-based Bitcoin ETFs could hold around 1.1 million bitcoins by early 2025 as investors continue buying in significant volumes. This trend points to growing confidence in Bitcoin’s potential amid the upcoming policy environment.
Trump’s Crypto Stance Raises Investor Hopes
Trump’s victory has generated widespread optimism for cryptocurrency regulations, and his crypto-friendly position contrasts with the previous administration’s tougher approach. Trump pledged to make the U.S. a “Bitcoin superpower,” which has created excitement among the crypto community.
Trump has also suggested he might replace Securities and Exchange Commission Chair Gary Gensler, who has led enforcement actions against crypto firms. His win has also brought the Republican Party a Senate majority, which gives momentum to the Financial Innovation and Technology for the 21st Century Act , which would shift regulatory oversight from the SEC to the Commodity Futures Trading Commission .
Trump’s Personal Ventures Show His Strong Ties to Crypto
Trump’s financial interest in cryptocurrency has drawn public attention as records show he earned up to $1 million from selling NFTs that feature his likeness. He also made history by accepting cryptocurrency donations for his campaign in May, raising nearly $3 million in digital assets by June.
Research firm Arkham Intelligence estimates Trump’s crypto holdings to be worth $8 million, including a notable $3 million stake in TrumpCoin, a digital token associated with his brand. Investors now watch how Trump’s influence will shape the U.S. crypto market as he prepares for office.
The post Bitcoin Surges to Record High as Trump Wins Presidential Election appeared first on Crypto News Land.
