from to Donald Trump’s presidential victoryon November 6th, the cryptocurrency registered an appreciation of more than 35%.
Bitcoin, the most used cryptocurrency, surpassed the $95,000 (90,000 euros) mark this Thursday for the first time, with the market expecting the US president-elect to implement less restrictive legislation.
The largest cryptocurrency by capitalization reached a new record of 95,004.50 dollars (90,077.3 euros) at around 01:24 (Lisbon time).
“Bitcoin is on track for a phenomenal valuation of $100,000 [95 mil euros]driven by growing confidence that the Trump administration will usher in a crypto-friendly era, and speculators are rallying behind this narrative, fueling the market frenzy,” Stephen Innes, an analyst at consulting firm SPI Asset Management, noted today.
Among the measures expected by the cryptocurrency sector is the creation of a strategic reserve in the United Statesmade up mostly of bitcoins seized by the courts, something that could lead other countries to grant more legitimacy to this virtual currency.
To establish it, the North American Government would undertake to no longer sell bitcoins already in its possession, mainly seized in the context of legal proceedings.
O President-elect also promised to drastically ease regulations on the digital currency sectorcertifying that it would make the United States “the world capital of bitcoin and cryptocurrencies”.
In particular, he promised to replace Gary Gensler, the head of the American financial markets regulator, the SEC, who has been accused by cryptocurrency investors of taking a repressive approach to the sector.
