A historic turning point for Bitcoin and the entire cryptocurrency market occurred on the morning of November 6, 2024 (UTC), when Donald Trump officially won the U.S. Presidential election for the 2024-2028 term. This marks his second victory after his previous term from 2016 to 2020. Alongside this news, the cryptocurrency market saw a strong surge, driving Bitcoin to a new all-time high of $76,400.
Previously, in speeches about Bitcoin and cryptocurrency, this “Bitcoin president” expressed strong support for crypto through ten notable commitments:
- Make the United States the global center for cryptocurrency
- Replace SEC Chair Gary Gensler
- Establish a strategic Bitcoin reserve fund
- Preserve the U.S.’s existing Bitcoin holdings
- Halt the development of a central bank digital currency (CBDC)
- Implement comprehensive cryptocurrency policies
- Immediately end anti-crypto policies upon taking office
- Remove unreasonable regulatory controls over the crypto industry
- Propose cryptocurrency as a solution to the national debt
- Consider reducing the sentence of Ross Ulbricht, founder of Silk Road
Trump’s victory was confirmed in Pennsylvania, where he secured 19 electoral votes, surpassing the 270 needed to defeat Democratic candidate Kamala Harris. This will be Trump’s second term in the White House, following his initial term from 2016 to 2020.
Related: Donald Trump’s World Liberty Financial Faces Challenges
The positive response from the cryptocurrency market pushed Bitcoin to an all-time high of $76,400 this morning before slightly adjusting to $75,100.
