Bitcoin has reached a new all-time high amid the US presidential election and the growing chances of Republican candidate Donald Trump winning.
According to Axios, investors expect Trump to win the election race, dev.ua reports. According to Coindesk, the value of bitcoin at its peak was $74.9 thousand, exceeding the $75 thousand mark. At the same time, Decrypt, citing CoinGecko, indicates a slightly lower level of $74,500.
The rise of the bitcoin rate is associated with the upcoming US elections. One of the key factors was the fact that Donald Trump actively supported cryptocurrency in his election campaign – in his commercials, he demonstrated paying with cryptocurrency while treating voters to burgers.
Another significant factor behind the rise in bitcoin’s value was the approval of the launch of a bitcoin ETF in January. The US Securities and Exchange Commission has authorised the operation of 10 instruments that facilitate the purchase of shares that follow the price of bitcoin. As a result, more than $20 billion has been invested in the sector since then.
