BTC once again rides the wave. After Trump's election, his second MAGA campaign has not officially started, but the financial market has already begun to react to him and his team. The Nasdaq rose for three consecutive days after the understanding king's victory, but even more surprising is BTC.
Coinglass data shows that last week Bitcoin surged by 11%, with prices breaking through $93,000 at their peak. Its total market value exceeded $1.76 trillion, surpassing silver, becoming the eighth-largest asset globally. Bitcoin spot ETFs 'sucked in' 24.6 billion yuan over four trading days.
Dogecoin surged by 27%, and over 250,000 people in cryptocurrency faced liquidation. Currently, many people do not acknowledge the value of virtual currency, believing it is financial speculation based on a pile of nothingness. But today, we will only look at it from the perspective of policy and market, and temporarily regard it as an asset to observe its future trends, as it is also an important part of the current investment market and will affect other major asset classes.
Before 2024, Trump maintained a skeptical stance against cryptocurrency. He once tweeted: "We only have one real currency in the United States - it's called the dollar," expressing his tough attitude towards cryptocurrency. Trump claimed that cryptocurrency has no value and that its anonymity easily fosters various criminal activities. However, during this year's election process, Trump's attitude towards cryptocurrency took a big turn. He reiterated in a speech that he wants to make America the capital of cryptocurrency, to establish a strategic Bitcoin reserve, and said a phrase adapted from the MAGA template, "If cryptocurrency is the future, I want those coins to be mined, minted, and manufactured in the United States." Regardless of how rigorous this statement is, there is certainly a strong sense of boosting American manufacturing.
The virtual currency market is likely too hot. We must know that during his campaign, Trump received over $4 million in cryptocurrency donations; who would want to go against money? Saying a couple of things isn't a big deal, right? Virtual currency, especially the mainstream Bitcoin, could be a breakthrough point. Bitcoin, as an emerging digital asset, is fundamentally used as a currency reservoir. But we all know that the most important task is to combat fiat currency and help more people understand and recognize virtual currency.
Although Bitcoin is a digital asset, its diminishing mining efficiency and other features artificially simulate the scarcity characteristic similar to that of bulk commodities. Coupled with its decentralization and anonymity, no one knows how much is actually hidden underground or how much is held by the real big players.
Trump is not exactly reliable; what he says isn't always followed through. However, if we regard Bitcoin and other virtual currencies as a major asset class, we can acknowledge their reservoir properties, especially as the dollar is flooding and unavoidable.#BTC何时突破10万？ #BTC再次刷新历史高点 
