Bitcoin in Fast Pace After Victory of Donald Trump, Price Makes New High of More than USD 97,000

After the victory of Donald Trump in the presidential election in America, there is a strong rise in the price of the most popular cryptocurrency Bitcoin. This largest cryptocurrency in terms of market value has created a new high level of $ 97,628 on Thursday. The price of Bitcoin has increased more than double this year.

According to a media report, the valuation of the crypto market has increased by approximately $900 billion since Trump was elected as the next President of America. The market value of Bitcoin has increased to approximately 1.94 trillion dollars. After Trump’s victory, more than four billion dollars have been invested in Bitcoin ETFs.

Earlier this week, a media report said that Trump’s social media company is in talks to buy crypto trading firm Bakkt. This has increased the possibility that after the new government takes charge in America early next year, a policy in favor of crypto can be made. Bakkt can be purchased by Truth Social, a unit of Trump’s company Trump Media and Technology Group, by taking full equity. The report of this deal is a major reason for the boom in the crypto market. During the election campaign, Trump had indicated not to make strict regulations for this segment. There are a large number of people investing in the crypto market in America. These investors are also expected to contribute to Trump’s victory in the elections.

The interest of institutional investors in the crypto segment is also increasing. Enterprise software maker MicroStrategy has a large investment in Bitcoin. This American company had recently purchased bitcoins worth $4.6 billion. Even before this, MicroStrategy had a large reserve of this most popular cryptocurrency. The company’s investors have also supported increasing investment in Bitcoin. This is indicated by the rise in the shares of MicroStrategy. MicroStrategy shares have increased by more than 500 percent this year. In comparison, the share price of Microsoft, one of the largest software companies, has increased by only about 11 percent. Some other companies have also planned to bet in this segment.