PYMNTS.com November 6, 2024
The price of bitcoin hit a new all-time high Wednesday (Nov. 6), and America elected a new president.
The two are far from unrelated. Following the projected victory of Donal Trump in the U.S. presidential elections, bitcoin briefly shot north of $75,000, breaking the prior high of $73,000 reached when exchange traded funds (ETFs) of the digital asset first started trading on Wall Street.
Other cryptocurrencies, such as Ether, Solana, and many memecoins, also experienced substantial gains. The crypto rally reflects investor optimism about a more favorable regulatory environment for the industry under the Trump administration than a potential Harris administration might have allowed for.
During his campaign, Trump pledged to transform the U.S. into the “crypto capital of the...
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