Pakistan Rupee Exchange Rate
After Donald Trump’s victory in the U.S. elections, the price of a single Bitcoin has increased suddenly $80,000.
According to reports, in March, Bitcoin’s value had already climbed to over $69,000, which sparked optimism among investors that this digital currency could regain its previous heights.
On the other side,some media sources have reported that crypto investors celebrated Trump’s win.
It’s worth noting that Bitcoin has reached this historic peak at a time when the Republican Party is set to take full control in the USA and holds a majority in the Senate as well.
What’s the real connection between American politics and Bitcoin?
During his presidential campaign,Trump declared that he would make the America the crypto capital of the world.
Meanwhile, Tesla company’s CEO, Elon Musk, who is believed to have played a key role in Trump’s victory, is also a supporter of cryptocurrency. However, in 2021, he announced that Tesla would no longer accept Bitcoin as a form of payment for its vehicles, leading to a decline in Bitcoin’s price, which dropped to around $40,000 per coin at the time.
In the recent U.S. elections 2024 , Elon Musk openly supported Donald Trump, and Trump himself endorsed Bitcoin during his campaign. Before the election, Trump stated that he would strategically invest in Bitcoin and appoint financial regulators specifically for this purpose.
