Bitcoin rises 40% since Trump's election while Canadian dollar declines

Bitcoin has risen 40% since Donald Trump's election as U.S. president, approaching a price of US$100,000. This increase is linked to expectations of greater acceptance of cryptocurrency under his administration. In contrast, the Canadian dollar has fallen significantly, reflecting differing interest rate trends between the U.S. and Canada. The Bank of Canada is cutting rates to prevent a recession, while U.S. rates are expected to remain high. Prime Minister Justin Trudeau announced a tax holiday on various items, costing the federal government about $1.6 billion. Additionally, $250 cheques will be sent to eligible Canadians, with payments expected in the spring.