Bitcoin – Trump connection deepens as investors celebrate election results

• Bitcoin rises above $75,000 forward of a Trump victory.
• Professional-Trump crypto bets hit the jackpot, making tens of millions in a single day.

Because the US presidential election outcomes rolled in, crypto buyers have been on the sting of their seats. Many predicted that Donald Trump’s success might spark a worldwide disaster. Bitcoin [BTC] assortment.

Effectively, the market didn’t disappoint. Earlier than the outcomes even got here in, BTC broke the $75,000 mark and hit an all-time excessive earlier than stabilizing round $73,589 on the time of writing.

Moreover, 98% of Bitcoin holders noticed earnings at this exceptional stage facts from Glasnode.

Trump publicizes early victory

After a nail-biting race, Trump took the stage to rejoice his close to victory in Florida. This got here after he was anticipated to win the essential battleground states of Pennsylvania, North Carolina and Georgia.

Later, the Related Press (AP) projected Trump because the winner of Wisconsin.

In line with the latter projections from the AP, Trump had 277 electoral faculty votes, in comparison with 224 for his Democratic opponent, Kamala Harris. It took 270 to safe victory.

That is how Trump secured the Oval Workplace and have become the POTUS.

Group responses

The election outcomes drew enthusiastic responses from key figures within the cryptocurrency group.

Coinbase CEO Brian Armstrong taken to X (previously Twitter) to rejoice the election of greater than 219 pro-crypto candidates to the US Home and Senate, which he described as:

“America’s Most Professional-Crypto Congress Ever.”

He emphasised that voters throughout get together traces have proven a powerful want for clear rules on digital belongings and expressed a want to work with the brand new Congress to determine these tips.

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Eleanor Terrett, a Fox Enterprise journalist, additionally highlighted Trump’s affect on the crypto sector: to report

Supply: Eleanor Terrett/X

Huge wins for pro-trump whales

The crypto group wasn’t the one one rejoicing over Trump’s victory. His election victory has generated vital earnings for buyers who wager on him.

Facts from Lookonchain revealed spectacular earnings amongst main gamers: “Theo4” earned $20.4 million in earnings, “Fredi9999” earned $15.6 million, and “zxgngl” earned $11 million.

Now all eyes are on how Trump’s pro-crypto administration and newly elected Congress will form the way forward for digital belongings in America.