Since the election, Bitcoin’s price has skyrocketed. Today, it has risen to above $82,000 in a market first.
The other major cryptocurrencies, including Dogecoin, have also risen significantly. Analysts expect all cryptocurrencies to continue rising in the election aftermath, with some saying Bitcoin is on track to hit the $100,000 milestone by the end of the year.
During his campaign, Trump promised to make the US “the crypto capital of the planet”. “If I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future,” he said.
Known for disliking the Biden administration’s crack-down on cryptocurrencies, Trump said his first move in office will be to replace staff. He pledged to his supporters, “On day one, I will fire Gary Gensler,” the current chair of the Securities and Exchange Commission (SEC).
“For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin,” Trump said at a keynote speech, during his campaign. “If I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future,” he said.
Moving forward, the President-elect has vowed to create a “bitcoin and crypto presidential advisory council.” Trump says “The rules will be written by people who love your industry, not hate your industry”.
By CEO NA Editorial Staff
