With the arrival of Republican candidate Donald Trump as the winner of the US Presidential Elections in 2025, the value of Bitcoin started to skyrocket.
According to media reports, the price of one bitcoin surged to 90 thousand dollars, due to Trump’s victory. Investors are optimistic that the Trump administration will support the cryptocurrency industry, which will boost demand and prices.
As reported, the US dollar index rose 0.07 percent to 105.49, its highest since July 3. The index measures the dollar’s value against six major currencies, including the euro. That means the US dollar is also strengthening against other currencies including Euro, Japanese Yen, Pound Sterling, Canadian Dollar, Swedish Krona, and Swiss Franc.
One Bitcoin has reached an all-time high of $89,637, which is approximately Rs.7.44 lakh. Some media reports are saying that the price of a bitcoin is likely to increase further.
Newly elected U.S. President Donald Trump has fueled excitement among digital asset supporters by expressing his determination to make the U.S. the world’s leading hub for cryptocurrencies, dubbing it the “crypto capital of the planet.”
On the other hand, Elon Musk, the CEO of Tesla company, played an important role in Trump’s victory, he is also a big supporter of cryptocurrency.
However, in 2021, when he announced that Tesla had dropped plans to accept Bitcoin as payment for its vehicles, Bitcoin’s value declined. At that time, a single Bitcoin was valued at around $40,000.
As part of this vision, he has also pledged to establish a national Bitcoin repository. This stance has generated significant buzz among cryptocurrency supporters and investors.
