## Triumph for Bitcoin: The Surge Begins
Bitcoin is approaching a remarkable milestone. Indeed, it’s closing in on an unprecedented $80,000, ignited by President-elect Donald Trump’s welcoming stance towards digital assets. The political shift suggests a Congress that is increasingly filled with pro-crypto lawmakers. Trump’s victory, albeit unexpected, has been a catalyst for this digital excitement.
### [Bitcoin’s Meteoric Rise](https://www.hindustantimes.com/trending/hbo-documentary-reveals-true-identity-of-bitcoin-creator-satoshi-nakamoto-his-name-is-101728480630058.html)
On a sunny Sunday, the famed cryptocurrency surged by as much as 4.3%, reaching a striking $79,771. It lingered near the $79,000 mark in Singapore by early afternoon. In the wake of Bitcoin’s ascent, smaller tokens such as Cardano along with the humorous favourite, Dogecoin, have rallied as well.
### Trump’s Pro-Crypto Agenda
On the campaign trail, Trump passionately vowed to situate the United States at the heart of the digital-asset industry. His ambitious promises include establishing a strategic Bitcoin reserve and appointing regulators keen on digital assets. Tuesday’s election saw him in a formidable position with his Republican peers clinching control of the Senate and poised for a slender majority in the House.
### [A Market on the Move](https://www.hindustantimes.com/business/us-stocks-rally-dollar-and-bitcoin-surge-as-donald-trump-defeats-kamala-harris-in-presidential-race-101730906824404.html)
Investment sentiments soared post-election. The cryptocurrency had already gained about 90% in the year 2024. Robust demand for US exchange-traded funds and interest-rate cuts from the Federal Reserve have further fuelled the growth. These remarkable returns surpass those from traditional investments like stocks and gold, showcasing Bitcoin’s unparalleled performance since the US elections.
### ETFs and Political Winds
The influential BlackRock Inc.’s iShares Bitcoin Trust saw a groundbreaking daily net inflow of nearly $1.4 billion on Thursday. Just the day prior, its trading volume reached an all-time high, exemplifying how Trump’s triumph is reshaping the crypto landscape. Unlike Trump’s supportive posture, President Biden’s tenure was marked by a stricter grip on digital currencies.
| Performance Metric | Value |
|———————|—————|
| Bitcoin Price | $79,771 |
| Surge | 4.3% |
| BlackRock ETF Inflow| $1.4 billion |
### [The Shift in Crypto Regulation](https://www.hindustantimes.com/world-news/us-news/what-is-barron-trumps-weird-role-in-donald-trumps-fishy-cryptocurrency-venture-101726260799177.html)
The Securities & Exchange Commission under Biden, led by Gary Gensler, identified the digital currency sector as fraught with deception. Following the 2022 market turmoil, SEC cracked down, notably after the collapse of the FTX exchange. Yet, Trump’s administration is poised for change, promising regulatory support which could easily translate into friendlier policies.
### Digital-Asset Industry’s Role
The digital-asset industry spared no expense during the election, funding candidates perceived as crypto-friendly. Their efforts now seem rewarded with Trump’s promise of supportive legislation. “The House’s and the Senate’s sweep under Trump’s influence increases the likelihood of passing crypto-friendly bills,” observed Noelle Acheson. This indeed heralds a promising era for the ambitious digital currency sector.
