Early Friday trading saw Bitcoin, the biggest cryptocurrency in the world by market value, soar to a new all-time high of $99,314.95, approaching the historic $100,000 milestone. The rally comes after Republican Donald Trump won the election, raising hopes that his government could create a regulatory climate that is favourable to cryptocurrency.
In the two weeks following Trump’s presidential victory, Bitcoin has increased by almost 45% and more than doubled from its low of $38,505 this year. Bitcoin was up 1.3% at $98,788 at 10:35 AM IST, and analysts predicted the milestone may be surpassed shortly.
During his campaign, Trump embraced digital assets, vowing to build a national bitcoin stockpile and turn the US into the “crypto capital of the planet.”
Since the election, almost $4 billion has poured into bitcoin exchange-traded funds that are listed in the US. Options on BlackRock’s ETF made a great debut this week, with call options—bets on the price rising—being more popular than puts.
Other significant cryptocurrencies had increases as well, including as Polkadot (9%), Ethereum (8%), Solana (8.7%), BNB (3.6%), Dogecoin (2%), Cardano (up 11%), and Shiba Inu (3%). With a 24% increase over the past day, XRP experienced the biggest gain among the leading cryptocurrency tokens.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.