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As I called it a few weeks ago, the election was too big to miss. I said the election result will tell when we see the new Bitcoin of all time. My argument was that if Trump won, we would see Bitcoin rise to six figures and if Kamala won, BTC would drop hard.
But thankfully, pro-Bitcoin Donald Trump swept the election, winning every swing state and the popular vote. His anti-Bitcoin opponent has lost spectacularly, and now he is going to race the price of Bitcoin. Even CNBC is reporting this as a “post-election rally.”
Trump’s proposed Bitcoin policies have boosted the price of bitcoin – it is now up more than 22% since last week. If Trump had lost, the price of BTC would probably have dropped significantly due to Harris’s negative policy regarding Bitcoin and the horrible policy surrounding financial markets in general – such as wanting to tax unrealized gains.
Now, we’ve moved past that, however, and we have a President-Elect who will champion Bitcoin innovation, support the industry and commit to working with congress and the senate to authorize and establish a Strategic Bitcoin Reserve. In addition, MicoStrategy is raising $42 billion to buy more bitcoin and Bitcoin ETFs are on the road to rally (a BlackRock ETF did $1 billion in volume in just 35 minutes this morning) — and it sounds like no one the seller.
WE WILL BUILD A PLACE TO STORAGE STRATEGIES 🇺🇸 🇺🇸 🇺🇸
— Senator Cynthia Lummis (@SenLummis) November 6, 2024
Oh, and on top of all that, Ross Ulbricht will be a free man on the first day of Trump’s presidency. We are winning on all fronts now.
So, thank you President Trump for saving us from the Democrats’ war on Bitcoin, from four more years of their continuous attack on this industry and, of course, for the price of bitcoin that made a new all-time high (we just hit $85,000! !)
This article is a Take it. The views expressed are entirely those of the author and do not reflect those of BTC Inc or Bitcoin Magazine.