Bitcoin reaches new all-time high following Trump's election victory
fool.com —
Bitcoin has reached a new all-time high of around $98,000 following Donald Trump's election win on November 5. The cryptocurrency has surged 40% in two weeks, nearing the significant $100,000 mark. Trump's presidency is expected to bring pro-crypto policies, including a potential U.S. Bitcoin reserve. Proposed plans suggest the U.S. could buy up to 1 million Bitcoins over five years, which could increase demand and drive prices higher. Additionally, spot Bitcoin exchange-traded funds (ETFs) have attracted over $40 billion in investments, surpassing the iShares Gold Trust. Institutional investors may gradually increase their Bitcoin allocations, further boosting demand as we approach 2025.