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Bitcoin Hits Historic High Amid Trump’s Pro-Crypto Stance

Bitcoin surges to record levels as Trump champions crypto, sparking unprecedented investor interest.

by Oscar phile phile
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Bitcoin surged to a historic all-time high of $76,956, with the digital asset sector seeing an extraordinary daily net inflow of $1.38 billion. BlackRock Inc.’s iShares Bitcoin Trust (IBIT) accounted for 81% of this influx, reflecting robust investor confidence as Donald Trump’s presidential victory bolstered the cryptocurrency market.

Trump’s Shift from Crypto Sceptic to Advocate

Once a vocal sceptic, former President Trump has now embraced cryptocurrency, pledging to position the US as the “crypto capital of the planet.” His campaign courted crypto enthusiasts, even accepting digital currency donations and introducing a new venture, World Liberty Financial, to trade cryptocurrencies. His administration has also indicated plans to establish a “strategic reserve” of Bitcoin, further fueling investor optimism.

Bitcoin ETFs Signal Broader US Market Shift

The surge in Bitcoin ETFs, especially IBIT’s $1.1 billion net subscription on Thursday, underscores a shift in the US financial landscape. Trump’s pro-crypto stance and promises to appoint regulatory officials supportive of digital assets are drawing substantial interest, with Bitcoin becoming a focal investment known as a “Trump trade” among enthusiasts.

Future Prospects and Caution Amid Market Highs

Despite the rally, technical analysts caution that Bitcoin’s recent gains—spurred by Trump’s win and Federal Reserve rate cuts—could face a correction in the coming months. The extent of future growth will likely depend on Trump’s ability to maintain his crypto-friendly agenda, setting the stage for potential digital currency expansion under his administration.

Bitcoin’s 77% rise this year is a remarkable turnaround for the digital asset, now viewed as a cornerstone of Trump’s financial vision, with both supporters and sceptics watching closely.

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