Bitcoin has reached a new record high, fueled by sustained demand following the recent election. The cryptocurrency's value continues to surge as investors show confidence in its potential.

Bitcoin: World's Largest Cryptocurrency Is Fast Approaching $100,000

Bitcoin Hits Fresh Record High As Post-Election Demand Holds

A slew of events that demonstrate the U.S. Government's growing support for the digital asset market under crypto advocate Donald Trump, bitcoin is once again hovering close to its all-time high. At the top of the tape is news that the president-elect's trump media & technology group is negotiating to acquire digital-asset marketplace Bakkt holdings. Watch in for more details!

Bitcoin To Eclipse $100,000 By Year End?

A slew of events that demonstrate the US government's growing support for the digital asset market under crypto advocate Donald Trump, bitcoin surged to a fresh all-time high of $94,000.

At the top of the tape is news that the president-elect's Trump media &amp; technology group is negotiating to acquire digital-asset marketplace Bakkt holdings. This led to a notable increase in both entities' stock prices and gave bitcoin another fillip.

Nasdaq is all set to introduce options on the $43 billion shares of Bitcoin trust as soon as Tuesday. Other advancements feature Goldman Sachs's initiative to spin off its digital-asset platform. These moves indicate the increasing integration of cryptocurrency and its foundational blockchain technology within the financial system.

Chris Weston, head of research at Pepperstone Group, said, "The crypto scene is on the move once again." He added that trump media's play for Bakkt is "another piece of positive news that is lifting sentiment."

On Wednesday, bitcoin reached a new peak of $94,000. The top digital asset has experienced a 40 per cent increase since Trump's election victory on November 5. The boost comes from Trump's strategy to position the US as a global crypto hub. Bitcoin has more than doubled in value this year, outpacing global stocks.

Trump has committed to establishing a favourable regulatory environment in the US for digital assets and plans to implement a strategic reserve of Bitcoin. The schedule for executing his commitments and the practicality of the Bitcoin reserve are still unclear.

These questions contribute to discussions regarding the potential for Bitcoin and the broader cryptocurrency market to sustain their upward momentum.

Data&nbsp;indicates that the open interest in the options market is centred around bullish positions on Bitcoin, hitting $100,000 by year-end.

A slew of events that demonstrate the US government's growing support for the digital asset market under crypto advocate Donald Trump, bitcoin surged to a fresh all-time high of $94,000.

A slew of events that demonstrate the US government's growing support for the digital asset market under crypto advocate Donald Trump, bitcoin surged to a fresh all-time high of $94,000. At the top of the tape is news that the president-elect's Trump media & technology group is negotiating to acquire digital-asset marketplace Bakkt holdings. This led to a notable increase in both entities' stock prices and gave bitcoin another fillip. Nasdaq is all set to introduce options on the $43 billion shares of Bitcoin trust as soon as Tuesday. Other advancements feature Goldman Sachs's initiative to spin off its digital-asset platform. These moves indicate the increasing integration of cryptocurrency and its foundational blockchain technology within the financial system. Chris Weston, head of research at Pepperstone Group, said, "The crypto scene is on the move once again." He added that trump media's play for Bakkt is "another piece of positive news that is lifting sentiment." On Wednesday, bitcoin reached a new peak of $94,000. The top digital asset has experienced a 40 per cent increase since Trump's election victory on November 5. The boost comes from Trump's strategy to position the US as a global crypto hub. Bitcoin has more than doubled in value this year, outpacing global stocks. Trump has committed to establishing a favourable regulatory environment in the US for digital assets and plans to implement a strategic reserve of Bitcoin. The schedule for executing his commitments and the practicality of the Bitcoin reserve are still unclear. These questions contribute to discussions regarding the potential for Bitcoin and the broader cryptocurrency market to sustain their upward momentum. Data indicates that the open interest in the options market is centred around bullish positions on Bitcoin, hitting $100,000 by year-end.

Bitcoin breaches $94,000: Can Trump-led rally boost Bitcoin above $100,000?

Donald Trump's win is perceived as a significant turning point for digital assets. The cryptocurrency industry expects a massive switch in policy. Investors anticipate Trump to deliver on campaign promises with the projected republican majority in Congress.

This includes appointments of crypto-friendly officials across regulatory agencies and pro-crypto executive orders. Business experts say that Trump will act on his pledge as a "Crypto president" and he will use executive orders to prevent banks from blocking crypto firms.

While the fervour cooled on Thursday &amp; Friday, bitcoin continued its rally and is still close to its record high of 93,000 dollars.

Some analysts now project the OG token to reach the 100,000-dollar mark. The re-election of Trump has set the stage for the adoption of crypto legislation.

Crypto companies were under regulatory scrutiny from the SEC and other agencies during the Biden administration.

Several enforcement actions were implemented, which hindered the industry's growth. A crypto-friendly regulatory environment is something Trump has promised.

Executives from the sector have been pushing for reforms such as the establishment of an advisory council for digital assets. And the appointment of a new chair to the Securities and Exchange Commission.

Blockchain and crypto companies like Kraken are optimistic because they see chances to expedite approval processes.

That will help crypto firms to grow without any fears of regulatory interference. Also, trump has promised to fire Gary Gensler, the head of the US Market regulator. Gensler is widely believed to be anti-crypto.

The industry has lobbied pro-crypto congressional candidates, spending over 119 million dollars in the latest election cycle.

The cryptocurrency industry is feeling more optimistic thanks to Trump's ambitious plan for a US Bitcoin strategic reserve.

According to industry executives, a new era will legitimise digital assets in mainstream finance. This may push for more transparency in regulatory mandates and a sturdy crypto economy.

Donald Trump's win is perceived as a significant turning point for digital assets. The cryptocurrency industry expects a massive switch in policy. Investors anticipate Trump to deliver on campaign promises with the projected republican majority in Congress.

Donald Trump's win is perceived as a significant turning point for digital assets. The cryptocurrency industry expects a massive switch in policy. Investors anticipate Trump to deliver on campaign promises with the projected republican majority in Congress. This includes appointments of crypto-friendly officials across regulatory agencies and pro-crypto executive orders. Business experts say that Trump will act on his pledge as a "Crypto president" and he will use executive orders to prevent banks from blocking crypto firms. While the fervour cooled on Thursday & Friday, bitcoin continued its rally and is still close to its record high of 93,000 dollars. Some analysts now project the OG token to reach the 100,000-dollar mark. The re-election of Trump has set the stage for the adoption of crypto legislation. Crypto companies were under regulatory scrutiny from the SEC and other agencies during the Biden administration. Several enforcement actions were implemented, which hindered the industry's growth. A crypto-friendly regulatory environment is something Trump has promised. Executives from the sector have been pushing for reforms such as the establishment of an advisory council for digital assets. And the appointment of a new chair to the Securities and Exchange Commission. Blockchain and crypto companies like Kraken are optimistic because they see chances to expedite approval processes. That will help crypto firms to grow without any fears of regulatory interference. Also, trump has promised to fire Gary Gensler, the head of the US Market regulator. Gensler is widely believed to be anti-crypto. The industry has lobbied pro-crypto congressional candidates, spending over 119 million dollars in the latest election cycle. The cryptocurrency industry is feeling more optimistic thanks to Trump's ambitious plan for a US Bitcoin strategic reserve. According to industry executives, a new era will legitimise digital assets in mainstream finance. This may push for more transparency in regulatory mandates and a sturdy crypto economy.

The crypto surge comes on Trump's pledge to be the ‘Crypto president’

Bitcoin has rallied to a record recently; this is primarily due to Donald Trump's decisive US presidential election victory, with the bitcoin price now braced for a huge "game-changer” role, according to a detailed report by Forbes.

Bitcoin races towards $100,000, crypto market rushes towards $3 trillion <o:p></o:p>

The bitcoin price has closed in on $100,000 per bitcoin, rocketing higher as a "perfect storm" pushes the combined crypto market back above $3 trillion. This $3 trillion market cap was last touched by the cryptocurrency in 2021, the Forbes report detailed further.

It is important to note that, as Tesla billionaire and Trump advisor Elon Musk has came out with a serious US "bankruptcy" warning, a top Federal Reserve official has suddenly curtailed his criticism of bitcoin and crypto.

"I will have an open mind," Minneapolis Federal Reserve president Neel Kashkari told Coindesk this week.

Brief history of Bitcoin<o:p></o:p>

Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer Bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight.

Consensus between nodes is achieved using a computationally intensive process based on proof of work, called mining, that secures the bitcoin blockchain. Mining consumes large quantities of electricity and has been criticized for its environmental impact.

Bitcoin was earlier termed as worthless<o:p></o:p>

Kashkari has earlier called bitcoin and cryptocurrencies more broadly "worthless," "fraudulent" and "nonsense" and in 2020 compared the crypto market to a "giant garbage dumpster."

Still, despite assuring to remain open to crypto, Kashkari asked, "other than as a speculative asset, what does it actually do in the real economy?"

The bitcoin price rally this year has been called a "debasement trade" by JPMorgan analysts who have predicted the bitcoin price could continue to rally on fears of US dollar devaluation and inflation. Due to the upcoming Trump administration there is a possibility of inflation in the US picking up again.

Musk tasked with controlling government spending<o:p></o:p>

Tesla billionaire Elon Musk, appointed to lead the Doge department of government efficiency under the new Trump administration, has led a growing backlash against out-of-control US government spending that exploded through the Covid-era lockdowns.

Kashkari's weakening of his outlook towards bitcoin and crypto comes as US president-elect Trump has surrounded himself with heavily pro-bitcoin and crypto advisors, including Howard Lutnick, the chief executive of Wall Street giant Cantor Fitzgerald who is heading up Trump's transition team and is in the running to be his Treasury secretary pick, the Forbes report explained further.

Trump's victory has pumped the price of Bitcoin higher over the last few days as traders bet his administration will mean an easing of US crypto regulations and a change of leadership at regulatory agencies that have been pessimistic about crypto markets.

The optimism due to Trump’s promise of turning America into the ‘Crypto capital of the world’ is still running high and is fuelling the endless rally in Bitcoin. Trump has also shared plans to create a US bitcoin strategic reserve, predicting the bitcoin price could eventually eclipse gold and the possibility of using bitcoin to pay off the US's $35 trillion debt pile. 

This looks difficult as an idea still it is crucial to see the ultimate stance of the upcoming Trump administration towards Bitcoin and the crypto world as a whole.

Global investors, market participants and crypto enthusiasts will carefully follow these developments. These developments will help them in making informed investment calls.

Bitcoin has rallied to a record recently; this is primarily due to Donald Trump's decisive US presidential election victory, with the bitcoin price now braced for a huge "game-changer” role, according to a detailed report by Forbes.

Bitcoin has rallied to a record recently; this is primarily due to Donald Trump's decisive US presidential election victory, with the bitcoin price now braced for a huge "game-changer” role, according to a detailed report by Forbes. Bitcoin races towards $100,000, crypto market rushes towards $3 trillion The bitcoin price has closed in on $100,000 per bitcoin, rocketing higher as a "perfect storm" pushes the combined crypto market back above $3 trillion. This $3 trillion market cap was last touched by the cryptocurrency in 2021, the Forbes report detailed further. It is important to note that, as Tesla billionaire and Trump advisor Elon Musk has came out with a serious US "bankruptcy" warning, a top Federal Reserve official has suddenly curtailed his criticism of bitcoin and crypto. "I will have an open mind," Minneapolis Federal Reserve president Neel Kashkari told Coindesk this week. Brief history of Bitcoin Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer Bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight. Consensus between nodes is achieved using a computationally intensive process based on proof of work, called mining, that secures the bitcoin blockchain. Mining consumes large quantities of electricity and has been criticized for its environmental impact. Bitcoin was earlier termed as worthless Kashkari has earlier called bitcoin and cryptocurrencies more broadly "worthless," "fraudulent" and "nonsense" and in 2020 compared the crypto market to a "giant garbage dumpster." Still, despite assuring to remain open to crypto, Kashkari asked, "other than as a speculative asset, what does it actually do in the real economy?" The bitcoin price rally this year has been called a "debasement trade" by JPMorgan analysts who have predicted the bitcoin price could continue to rally on fears of US dollar devaluation and inflation. Due to the upcoming Trump administration there is a possibility of inflation in the US picking up again. Musk tasked with controlling government spending Tesla billionaire Elon Musk, appointed to lead the Doge department of government efficiency under the new Trump administration, has led a growing backlash against out-of-control US government spending that exploded through the Covid-era lockdowns. Kashkari's weakening of his outlook towards bitcoin and crypto comes as US president-elect Trump has surrounded himself with heavily pro-bitcoin and crypto advisors, including Howard Lutnick, the chief executive of Wall Street giant Cantor Fitzgerald who is heading up Trump's transition team and is in the running to be his Treasury secretary pick, the Forbes report explained further. Trump's victory has pumped the price of Bitcoin higher over the last few days as traders bet his administration will mean an easing of US crypto regulations and a change of leadership at regulatory agencies that have been pessimistic about crypto markets. The optimism due to Trump’s promise of turning America into the ‘Crypto capital of the world’ is still running high and is fuelling the endless rally in Bitcoin. Trump has also shared plans to create a US bitcoin strategic reserve, predicting the bitcoin price could eventually eclipse gold and the possibility of using bitcoin to pay off the US's $35 trillion debt pile. This looks difficult as an idea still it is crucial to see the ultimate stance of the upcoming Trump administration towards Bitcoin and the crypto world as a whole. Global investors, market participants and crypto enthusiasts will carefully follow these developments. These developments will help them in making informed investment calls.

Fed shifts stance sparks $3 trillion Bitcoin and crypto price surge

In global markets, bitcoin was making headlines once again, and positive starts to Asian stocks being the other highlight. The OG crypto token notched another record high, climbing above $93,000 for the first time ever. The chart-bursting surge is driven by traders' exuberance over president-elect Donald Trump's rhetorical support for crypto.

Bitcoin Tops $93,000 In Chart-Bursting Rally

Bitcoin rallied above $93,000 for the first time on November 13, adding to its postelection rally, as traders dealt with October inflation data, according to a detailed report by CNBC. <o:p></o:p>

The price of the flagship cryptocurrency was last higher by more than 3 per cent at $92,612.27. At one point, it briefly rose to a fresh record of $93,469.08. The ongoing surging in the Bitcoin’s value is due to the anticipation of weaker regulations in the upcoming Trump administration. As promised by the President elect in many of his election rallies. <o:p></o:p>

Experts believe Trump’s embrace of cryptocurrencies during the presidential campaign and his venture into crypto trade is attracting investors on the hope and expectation that the new administration would be crypto-friendly, the CNBC report explained further.<o:p></o:p>

The Trump campaign accepted donations in cryptocurrency and he also appeared at industry events, promising to make the US “the crypto capital of the planet”.<o:p></o:p>

Traders have digested the most recent data<o:p></o:p>

Further, traders were digesting the most recent consumer price index, which showed prices increased 0.2 per cent in October, bringing the 12-month inflation rate up to 2.6 per cent. That was in line with expectations.<o:p></o:p>

Bitcoin, which has recently benefited from a big postelection rally across risk assets, is seen by many investors as a hedge against potential fiscal policy that could spark inflation. Many market participants have extremely high expectations from Bitcoin it is in part due to the tremendous rally in the price of the asset along with the optimism surrounding it. <o:p></o:p>

Other cryptocurrencies also got a small boost as traders digested the past week of postelection gains. Ether and the Solana token were each higher by about 1 per cent.<o:p></o:p>

Dogecoin added 3 per cent. It has been one of the biggest winners since the election due to Tesla CEO Elon Musk’s involvement in President-elect Donald Trump’s campaign and forthcoming role in his administration, which was announced Tuesday night.<o:p></o:p>

Now it will be interesting to see how the crypto-currencies behave going ahead, when once the Trump administration takes over. It will also be crucial to see how the government of US and the Federal Reserve manages the overall debt on the US economy going ahead by balancing inflation, demand and interest rates properly because as things stand there are going to be fiscal challenges for the US to deal with.<o:p></o:p>

Bitcoin rallied above $93,000 for the first time on November 13, adding to its postelection rally, as traders dealt with October inflation data, according to a detailed report by CNBC.

Bitcoin rallied above $93,000 for the first time on November 13, adding to its postelection rally, as traders dealt with October inflation data, according to a detailed report by CNBC. The price of the flagship cryptocurrency was last higher by more than 3 per cent at $92,612.27. At one point, it briefly rose to a fresh record of $93,469.08. The ongoing surging in the Bitcoin’s value is due to the anticipation of weaker regulations in the upcoming Trump administration. As promised by the President elect in many of his election rallies. Experts believe Trump’s embrace of cryptocurrencies during the presidential campaign and his venture into crypto trade is attracting investors on the hope and expectation that the new administration would be crypto-friendly, the CNBC report explained further. The Trump campaign accepted donations in cryptocurrency and he also appeared at industry events, promising to make the US “the crypto capital of the planet”. Traders have digested the most recent data Further, traders were digesting the most recent consumer price index, which showed prices increased 0.2 per cent in October, bringing the 12-month inflation rate up to 2.6 per cent. That was in line with expectations. Bitcoin, which has recently benefited from a big postelection rally across risk assets, is seen by many investors as a hedge against potential fiscal policy that could spark inflation. Many market participants have extremely high expectations from Bitcoin it is in part due to the tremendous rally in the price of the asset along with the optimism surrounding it. Other cryptocurrencies also got a small boost as traders digested the past week of postelection gains. Ether and the Solana token were each higher by about 1 per cent. Dogecoin added 3 per cent. It has been one of the biggest winners since the election due to Tesla CEO Elon Musk’s involvement in President-elect Donald Trump’s campaign and forthcoming role in his administration, which was announced Tuesday night. Now it will be interesting to see how the crypto-currencies behave going ahead, when once the Trump administration takes over. It will also be crucial to see how the government of US and the Federal Reserve manages the overall debt on the US economy going ahead by balancing inflation, demand and interest rates properly because as things stand there are going to be fiscal challenges for the US to deal with.

Bitcoin tops $93,000 as investors react to election and inflation data

Bitcoin resumed its rally on November 12, after taking a brief break from its post-election superb rally earlier in the session as detailed in a report by CNBC.

The price of bitcoin was last higher by 2 per cent at $89,338.20, according to Coin Metrics. It briefly touched $90,036.17 just before the US stock market closed, after quickly blowing past the the $80,000 mark in the two days prior. Its price is expected by many investors to continue making fresh records on its way to $100,000 later this year, the CNBC report detailed further.

Bitcoin has now rallied 33 per cent since US elections<o:p></o:p>

Bitcoin has now risen more than 33 per cent since Election Day on November 5, when it had reached a new record for the first time since March. Ether was down 1 per cent November 12, after a 28 per cent gain over the past week.

&nbsp;“Bitcoin is now in price discovery mode after breaking through all-time highs early last Wednesday morning when it was officially declared that Trump won the election,” said Mike Colonnese, an analyst at H.C. Wainwright. “Strong positive sentiment is likely to persist through the balance of 2024 and we see Bitcoin prices potentially reaching the six-figure mark by the end of this year”, explained the CNBC report further.

Crypto investors have been cheering President-elect Donald Trump’s promises to make the regulatory environment more supportive and even friendly toward crypto businesses, which have long struggled with a lack of clarity on the rules of the road.

While Bitcoin has long been deemed a safe asset in Washington, that is, not subject to securities laws, the long tail of crypto-currencies and crypto-related start-ups have been operating in a riskier grey area.

“That’s just shifted 180 degrees,” Matt Hougan, chief investment officer of Bitwise Asset Management, told CNBC. “We’re now in a positive regulatory environment, we now have tailwinds from that, and that comes in the case of a market that was already in a bull market, that’s going to push us higher.”

Across the crypto market, coins have soared

Across the crypto market, coins that have soared in the past week hit the brakes on November 12, including meme coin Shiba Inu, which was down 4 per cent after it soared 57 per cent in the past week.

Dogecoin was an outlier, however. It’s been one of the biggest winners, up more than 125 per cent since November 5, likely due to its connection with Elon Musk, who helped get Trump elected. It was last higher by 17 per cent.

In the stock market, MicroStrategy reduced earlier losses and ended the day higher by about 5 per cent. Coinbase retreated 1.5 per cent. On November 12, it surged 19 per cent to trade above $300 for the first time since 2021 and about 6 per cent from its high from that year. As the traders and analysts, the past week’s rally is only beginning, added the report further.

Bitcoin enthusiasts and investors will carefully follow these recent developments in Bitcoin. This will help them make informed investment decisions.

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Bitcoin resumed its rally on November 12, after taking a brief break from its post-election superb rally earlier in the session as detailed in a report by CNBC. The price of bitcoin was last higher by 2 per cent at $89,338.

Bitcoin resumed its rally on November 12, after taking a brief break from its post-election superb rally earlier in the session as detailed in a report by CNBC. The price of bitcoin was last higher by 2 per cent at $89,338.20, according to Coin Metrics. It briefly touched $90,036.17 just before the US stock market closed, after quickly blowing past the the $80,000 mark in the two days prior. Its price is expected by many investors to continue making fresh records on its way to $100,000 later this year, the CNBC report detailed further. Bitcoin has now rallied 33 per cent since US elections Bitcoin has now risen more than 33 per cent since Election Day on November 5, when it had reached a new record for the first time since March. Ether was down 1 per cent November 12, after a 28 per cent gain over the past week. “Bitcoin is now in price discovery mode after breaking through all-time highs early last Wednesday morning when it was officially declared that Trump won the election,” said Mike Colonnese, an analyst at H.C. Wainwright. “Strong positive sentiment is likely to persist through the balance of 2024 and we see Bitcoin prices potentially reaching the six-figure mark by the end of this year”, explained the CNBC report further. Crypto investors have been cheering President-elect Donald Trump’s promises to make the regulatory environment more supportive and even friendly toward crypto businesses, which have long struggled with a lack of clarity on the rules of the road. While Bitcoin has long been deemed a safe asset in Washington, that is, not subject to securities laws, the long tail of crypto-currencies and crypto-related start-ups have been operating in a riskier grey area. “That’s just shifted 180 degrees,” Matt Hougan, chief investment officer of Bitwise Asset Management, told CNBC. “We’re now in a positive regulatory environment, we now have tailwinds from that, and that comes in the case of a market that was already in a bull market, that’s going to push us higher.” Across the crypto market, coins have soared Across the crypto market, coins that have soared in the past week hit the brakes on November 12, including meme coin Shiba Inu, which was down 4 per cent after it soared 57 per cent in the past week. Dogecoin was an outlier, however. It’s been one of the biggest winners, up more than 125 per cent since November 5, likely due to its connection with Elon Musk, who helped get Trump elected. It was last higher by 17 per cent. In the stock market, MicroStrategy reduced earlier losses and ended the day higher by about 5 per cent. Coinbase retreated 1.5 per cent. On November 12, it surged 19 per cent to trade above $300 for the first time since 2021 and about 6 per cent from its high from that year. As the traders and analysts, the past week’s rally is only beginning, added the report further. Bitcoin enthusiasts and investors will carefully follow these recent developments in Bitcoin. This will help them make informed investment decisions.

Bitcoin rallies again briefly touching $90,000 in late afternoon trading

As a flurry of speculative bets was spurred by optimism about the digital asset industry's potential under president-elect Donald Trump, many smaller cryptocurrencies have surpassed the market leader, bitcoin. This comes even as bitcoin has surged over 30% from under $70,000 to near $90,000 in a week. Watch in for more details!

Dogecoin Outperforms Record-Breaking Bitcoin

Bitcoin touched another high on November 11, as the rally in cryptocurrencies continued following Donald Trump’s election win, as detailed in a report by CNBC.

The price of the flagship cryptocurrency was last higher by more than 12 per cent at $89,174, according to Coin Metrics. Recently, it hit a fresh high of $89,623. Ether was up more than 7 per cent to $3,371.79 after a 30 per cent gain in the past week that pushed it back over the $3,000 mark over the weekend, the CNBC report explained further.

The decentralized finance token tied to Cardano ticked 4.7 per cent higher. Dogecoin continued to rise, up almost 24 per cent. In the regular trading session on November 11, Coinbase closed up 19.8 per cent, while MicroStrategy advanced more than 25.7 per cent. Both stocks were higher in extended trading as well.

Euphoria in the Crypto market unleashed by Trump's victory

Susannah Streeter, head of money and markets at investment platform Hargreaves Lansdown, noted that crypto’s march higher comes amid “euphoria” in the market unleashed by Trump’s presidential win last week.

“His pledge to go all in on crypto has sent Bitcoin to fresh heady heights,” she said in a research note Monday. “He’s made an about turn on supporting the industry and is now vowing to turn the US into the crypto capital of the world. Bitcoin speculators are betting on a more clement regulatory environment, and have expectations that the authorities may build up a reserve crypto fund, helping lift ongoing demand.”

On the campaign trail, Trump made a slew of promises to the crypto industry, including making the US the “crypto capital of the planet” and insisting that all bitcoin should be mined in the country.

He also pledged to unseat US Securities and Exchange Commission Chairman Gary Gensler, who has taken an aggressive approach to crypto, despite the fact that the president does not have the power to do so. In a research note last week, Citi strategists highlighted that crypto had been one of the “few Trump trades that has yet to retrace.”

“Part of the reason is due to the anticipated crypto-friendly nature of Trump’s administration, which investors hope will translate into regulatory clarity in the US,” the strategists, led by David Glass, said.

They noted that since the election, spot crypto ETFs had seen some of their largest-ever inflows. “Specifically, net inflows for BTC and ETH ETFs in the two days post-election were $2.01bn and $132mn, respectively,” they said. “We continue to see ETF flows as the main driver of Bitcoin returns.”

Looking ahead, some analysts expect crypto to continue to rise, with a number saying bitcoin is on track to hit the $100,000 milestone by the end of the year.

Market participants and crypto enthusiasts will follow these developments carefully as they will help them make informed investment decisions in the crypto space.

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Bitcoin touched another high on November 11, as the rally in cryptocurrencies continued following Donald Trump’s election win, as detailed in a report by CNBC. The price of the flagship cryptocurrency was last higher by more than 12 per cent at $89,174, according to Coin Metrics.

Bitcoin touched another high on November 11, as the rally in cryptocurrencies continued following Donald Trump’s election win, as detailed in a report by CNBC. The price of the flagship cryptocurrency was last higher by more than 12 per cent at $89,174, according to Coin Metrics. Recently, it hit a fresh high of $89,623. Ether was up more than 7 per cent to $3,371.79 after a 30 per cent gain in the past week that pushed it back over the $3,000 mark over the weekend, the CNBC report explained further. The decentralized finance token tied to Cardano ticked 4.7 per cent higher. Dogecoin continued to rise, up almost 24 per cent. In the regular trading session on November 11, Coinbase closed up 19.8 per cent, while MicroStrategy advanced more than 25.7 per cent. Both stocks were higher in extended trading as well. Euphoria in the Crypto market unleashed by Trump's victory Susannah Streeter, head of money and markets at investment platform Hargreaves Lansdown, noted that crypto’s march higher comes amid “euphoria” in the market unleashed by Trump’s presidential win last week. “His pledge to go all in on crypto has sent Bitcoin to fresh heady heights,” she said in a research note Monday. “He’s made an about turn on supporting the industry and is now vowing to turn the US into the crypto capital of the world. Bitcoin speculators are betting on a more clement regulatory environment, and have expectations that the authorities may build up a reserve crypto fund, helping lift ongoing demand.” On the campaign trail, Trump made a slew of promises to the crypto industry, including making the US the “crypto capital of the planet” and insisting that all bitcoin should be mined in the country. He also pledged to unseat US Securities and Exchange Commission Chairman Gary Gensler, who has taken an aggressive approach to crypto, despite the fact that the president does not have the power to do so. In a research note last week, Citi strategists highlighted that crypto had been one of the “few Trump trades that has yet to retrace.” “Part of the reason is due to the anticipated crypto-friendly nature of Trump’s administration, which investors hope will translate into regulatory clarity in the US,” the strategists, led by David Glass, said. They noted that since the election, spot crypto ETFs had seen some of their largest-ever inflows. “Specifically, net inflows for BTC and ETH ETFs in the two days post-election were $2.01bn and $132mn, respectively,” they said. “We continue to see ETF flows as the main driver of Bitcoin returns.” Looking ahead, some analysts expect crypto to continue to rise, with a number saying bitcoin is on track to hit the $100,000 milestone by the end of the year. Market participants and crypto enthusiasts will follow these developments carefully as they will help them make informed investment decisions in the crypto space.

Bitcoin crosses $89,000 as crypto euphoria over Trump's election win shows no sign of slowing

Bitcoin hit a new all-time high near $81,000, with futures premiums surging, signalling strong investor confidence that the cryptocurrency's record rally is set to continue. According to a comprehensive report by CNBC, this surge is being fueled by the recent US elections, which saw a wave of pro-crypto candidates secure office.

Open interest in bitcoin’s price surpassing $90,000 rose to more than $2.8 billion on the popular Deribit derivatives exchange, one of a few crypto native platforms that offers futures trading. Deribit encompasses most of the offshore options market, the CNBC report explained further.

“The options market’s bias is heavily toward continued momentum. Call options trade at a premium to puts, and open interest in out-of-the-money calls has grown,” Vetle Lunde, head of research at K33 Research, told CNBC.

A call option gives the buyer the right to buy shares of an underlying asset at a certain price for a specified period. Buying a call option is a bet the asset price will move higher. Buying a put option is a bet the asset price will fall.

The CME derivates exchange offers bitcoin futures contracts and is a popular way for institutions in the US to make bets on the future price of bitcoin. Velde told CNBC that on Friday CME premiums for ether and bitcoin averaged 14.5 per cent and 14 per cent, respectively. Ahead of the election, Velde says these premiums sat at 7 per cent, and had spent a majority of the past half year hovering slightly below 10 per cent.

“The recent surge is a meaningful deviation higher emphasizing the bullish flows of late,” he added, noting that yields more or less stabilized well into the double digits after the election became clear.

“Alongside the growth in leverage, we saw the first meaningful example of growing yields in offshore derivatives, indicative of the move being led by determined risk-takers positioning for further upside,” said Velde.

The early innings of bitcoin’s push higher coincided with substantial growth in open interest in perpetual swaps, or contracts that allow buyers to speculate on where they think prices are headed without a set expiration date.

However, according to Velde, liquidity in crypto markets on weekends is typically poorer than during weekdays, as neither CME futures nor ETFs are open to trade. Thus, moves tend to overreact and substantially retrace once these markets open again.

Donald Trump promised to turn US into the 'crypto capital of the planet'

President-elect Donald Trump promised on the campaign trail to turn the United States into the “crypto capital of the planet.” His multiple pledges to the crypto community included launching a national crypto stockpile with the more than $16 billion in bitcoin the US government has amassed through asset seizures, as well as slashing interest rates. The easing of monetary policy typically dovetails with a surge in crypto prices since it makes it cheaper to borrow money.

<o:p>&nbsp;</o:p>The Federal Reserve, which guides the country’s monetary policy, sets the benchmark rate. It also, by design, operates independently from the White House. On Thursday, the Fed approved its second consecutive interest rate cut.

On the back of election results and the Fed’s unanimous vote to again slash the benchmark rate, the crypto market broadly surged into the weekend. Ether eclipsed Bitcoin’s rise, up 30 per cent in the last seven days, and Solana’s market cap topped $100 billion on Sunday.

The total market cap of all spot bitcoin ETFs is now above $80 billion, and in the last three trading days alone, the spot funds collectively added $2.3 billion.

Within fintech, companies tied to crypto were some of the top performers, after candidates funded by the crypto industry won races up and down the ballot. 

Coinbase jumped 48 per cent in a week<o:p></o:p>

Coinbase shares jumped 48 per cent for the week, their strongest performance since January 2023. Coinbase was one of the top corporate donors in the election cycle, giving more than $75 million to Fairshake and its affiliate PACs, including a fresh pledge of $25 million to support the pro-crypto super PAC in the 2026 midterms.

Trump has vowed to oust SEC Chair Gary Gensler, which potentially bodes well for companies like Coinbase fighting the regulator in court over alleged securities offences.

“Tuesday night was certainly a big night for crypto and the crypto voter,” Coinbase’s chief legal officer Paul Grewal said in an interview. “We’re going to have the most pro-crypto Congress ever, and Coinbase has played some part in all of that.”

Robinhood, which allows users to buy and sell a number of digital currencies, rose 27 per cent for the week. The online brokerage received a Wells Notice from the SEC in May, a move that often precedes formal charges.

Robinhood’s general manager for its crypto unit stated that the goal at Robinhood is to be able to work within the administration, as explained in the CNBC report further.

“If you think about crypto, it’s a very fast-moving pace. It’s complicated, it was made by engineers, for engineers,” said Johann Kerbrat, the Vice President and General Manager of Robinhood Crypto. “We want to help policymakers to understand it and help them drive the right protections for the customers.”

Market participants and investors will follow these developments carefully as it will help them in taking informed decisions with regard to Bitcoin.

Bitcoin hit a new all-time high near $81,000, with futures premiums surging, signalling strong investor confidence that the cryptocurrency's record rally is set to continue.

Bitcoin hit a new all-time high near $81,000, with futures premiums surging, signalling strong investor confidence that the cryptocurrency's record rally is set to continue. According to a comprehensive report by CNBC, this surge is being fueled by the recent US elections, which saw a wave of pro-crypto candidates secure office. Open interest in bitcoin’s price surpassing $90,000 rose to more than $2.8 billion on the popular Deribit derivatives exchange, one of a few crypto native platforms that offers futures trading. Deribit encompasses most of the offshore options market, the CNBC report explained further. “The options market’s bias is heavily toward continued momentum. Call options trade at a premium to puts, and open interest in out-of-the-money calls has grown,” Vetle Lunde, head of research at K33 Research, told CNBC. A call option gives the buyer the right to buy shares of an underlying asset at a certain price for a specified period. Buying a call option is a bet the asset price will move higher. Buying a put option is a bet the asset price will fall. The CME derivates exchange offers bitcoin futures contracts and is a popular way for institutions in the US to make bets on the future price of bitcoin. Velde told CNBC that on Friday CME premiums for ether and bitcoin averaged 14.5 per cent and 14 per cent, respectively. Ahead of the election, Velde says these premiums sat at 7 per cent, and had spent a majority of the past half year hovering slightly below 10 per cent. “The recent surge is a meaningful deviation higher emphasizing the bullish flows of late,” he added, noting that yields more or less stabilized well into the double digits after the election became clear. “Alongside the growth in leverage, we saw the first meaningful example of growing yields in offshore derivatives, indicative of the move being led by determined risk-takers positioning for further upside,” said Velde. The early innings of bitcoin’s push higher coincided with substantial growth in open interest in perpetual swaps, or contracts that allow buyers to speculate on where they think prices are headed without a set expiration date. However, according to Velde, liquidity in crypto markets on weekends is typically poorer than during weekdays, as neither CME futures nor ETFs are open to trade. Thus, moves tend to overreact and substantially retrace once these markets open again. Donald Trump promised to turn US into the 'crypto capital of the planet' President-elect Donald Trump promised on the campaign trail to turn the United States into the “crypto capital of the planet.” His multiple pledges to the crypto community included launching a national crypto stockpile with the more than $16 billion in bitcoin the US government has amassed through asset seizures, as well as slashing interest rates. The easing of monetary policy typically dovetails with a surge in crypto prices since it makes it cheaper to borrow money. The Federal Reserve, which guides the country’s monetary policy, sets the benchmark rate. It also, by design, operates independently from the White House. On Thursday, the Fed approved its second consecutive interest rate cut. On the back of election results and the Fed’s unanimous vote to again slash the benchmark rate, the crypto market broadly surged into the weekend. Ether eclipsed Bitcoin’s rise, up 30 per cent in the last seven days, and Solana’s market cap topped $100 billion on Sunday. The total market cap of all spot bitcoin ETFs is now above $80 billion, and in the last three trading days alone, the spot funds collectively added $2.3 billion. Within fintech, companies tied to crypto were some of the top performers, after candidates funded by the crypto industry won races up and down the ballot. Coinbase jumped 48 per cent in a week Coinbase shares jumped 48 per cent for the week, their strongest performance since January 2023. Coinbase was one of the top corporate donors in the election cycle, giving more than $75 million to Fairshake and its affiliate PACs, including a fresh pledge of $25 million to support the pro-crypto super PAC in the 2026 midterms. Trump has vowed to oust SEC Chair Gary Gensler, which potentially bodes well for companies like Coinbase fighting the regulator in court over alleged securities offences. “Tuesday night was certainly a big night for crypto and the crypto voter,” Coinbase’s chief legal officer Paul Grewal said in an interview. “We’re going to have the most pro-crypto Congress ever, and Coinbase has played some part in all of that.” Robinhood, which allows users to buy and sell a number of digital currencies, rose 27 per cent for the week. The online brokerage received a Wells Notice from the SEC in May, a move that often precedes formal charges. Robinhood’s general manager for its crypto unit stated that the goal at Robinhood is to be able to work within the administration, as explained in the CNBC report further. “If you think about crypto, it’s a very fast-moving pace. It’s complicated, it was made by engineers, for engineers,” said Johann Kerbrat, the Vice President and General Manager of Robinhood Crypto. “We want to help policymakers to understand it and help them drive the right protections for the customers.” Market participants and investors will follow these developments carefully as it will help them in taking informed decisions with regard to Bitcoin.

Bitcoin hits all-time high, with $2.8 billion riding on it reaching $90,000

Pro-cryptoTrump's win boosted bitcoin to a fresh record of over 75,000 dollars. And if the bets in the futures market are anything to go by, the top token's record-breaking run has just about started. Gold, on the other hand, crashed in a knee-jerk reaction to 'Trump 2.0' as the dollar marked its best run since march 2020. However, the yellow metal's appeal is still at play, with geopolitical tensions and Trump's trade and foreign policy expected to drive risk-off bets.

Bitcoin's 'trump' Card Suggests New Milestones Beyond Latest Highs

Bitcoin rallied Wednesday, hitting all-time highs as former President Donald Trump defeated Vice President Kamala Harris to win the White House, according to a detailed report by CNBC.

The price of the flagship cryptocurrency was last higher by 9 per cent at about $76,052.66, according to Coin Metrics, after touching a fresh record of $76,493.86, the CNBC report explained further.

“The themes around the Trump trade for crypto are deregulation, potential tax cuts for an asset that is both held long term but also day traded, less dependency on parts of government like financial institutions and the Fed or at least an alternative for decentralized currency, and overall support of risk assets and the growth of crypto is really what’s making it grow,” Sylvia Jablonski, CEO and chief investment officer at Defiance ETFs, told CNBC.

Ether surged 11 per cent, while the token tied to its competitor, Solana, rocketed 13 per cent. Payments token XRP jumped more than 5 per cent. Meanwhile, meme-coins soared, with dogecoin up more than 15 per cent.

Shares of Coinbase surged 31.11 per cent, posting its best day on record since its first day of trading. MicroStrategy, which trades as a high beta play on the price of Bitcoin, advanced 13 per cent.

While bitcoin is benefitting from its inflation hedge narrative, investors of other cryptocurrencies and Coinbase are betting the US regulatory environment will be more supportive of the crypto industry, as promised by Trump on the campaign trail.

Voters in this election were concerned about the state of the government deficit, which rose 8 per cent in the 2024 fiscal year to $1.8 trillion, and increased tax cuts promised by both Trump and Harris. Bitcoin, like gold, is seen by many investors as a hedge against the potential for fiscal and monetary policy that combine to reduce the value of the dollar and lift inflation.

Trump had presented himself as the pro-crypto candidate early in the race and courted the industry directly. That included declarations that he would install a crypto advisory council in his first 100 days in office, establish favourable regulation to encourage domestic “made in the USA” bitcoin mining, launch a strategic national bitcoin stockpile and what perhaps resonated most strongly with the industry replace Securities and Exchange Commission chair Gary Gensler, the CNBC report explained further.

Gensler has become an adversary to the crypto industry, which has long been frustrated with the refusal of the SEC, under his leadership, to provide clear guidance for US crypto businesses, choosing instead to regulate by enforcement, the industry says. Because of that, largely, this year’s presidential election has been called the most important one in the crypto industry’s lifetime.

“While President-elect Trump has claimed to make the US the ‘crypto capital’ of the world, the details of his plans remain to be seen, and I expect it to take some time to truly understand his stance towards crypto,” said Anthony Yeung, global head of strategic development at CoinCover.

“It’s in the interest of the industry that the US moves sooner rather than later when it comes to crafting a regulatory framework,” he said. “What it needs is targeted and proportionate regulation that prioritizes consumer protection and encourages innovation. Striking this balance will require close collaboration between regulators, policymakers and industry participants.”

In the 2012, 2016 and 2020 elections, bitcoin saw returns of roughly 87 per cent, 44 per cent and 145 per cent in the 90 days following election day, respectively. That’s in part because election years happen to fall on Bitcoin halving years, when the supply of the cryptocurrency ratchets downward. Post-election returns have also tended to align with major Federal Reserve policy shifts. This year, the market is looking forward to further interest rate reductions.

Bitcoin rallied Wednesday, hitting all-time highs as former President Donald Trump defeated Vice President Kamala Harris to win the White House, according to a detailed report by CNBC.

Bitcoin rallied Wednesday, hitting all-time highs as former President Donald Trump defeated Vice President Kamala Harris to win the White House, according to a detailed report by CNBC. The price of the flagship cryptocurrency was last higher by 9 per cent at about $76,052.66, according to Coin Metrics, after touching a fresh record of $76,493.86, the CNBC report explained further. “The themes around the Trump trade for crypto are deregulation, potential tax cuts for an asset that is both held long term but also day traded, less dependency on parts of government like financial institutions and the Fed or at least an alternative for decentralized currency, and overall support of risk assets and the growth of crypto is really what’s making it grow,” Sylvia Jablonski, CEO and chief investment officer at Defiance ETFs, told CNBC. Ether surged 11 per cent, while the token tied to its competitor, Solana, rocketed 13 per cent. Payments token XRP jumped more than 5 per cent. Meanwhile, meme-coins soared, with dogecoin up more than 15 per cent. Shares of Coinbase surged 31.11 per cent, posting its best day on record since its first day of trading. MicroStrategy, which trades as a high beta play on the price of Bitcoin, advanced 13 per cent. While bitcoin is benefitting from its inflation hedge narrative, investors of other cryptocurrencies and Coinbase are betting the US regulatory environment will be more supportive of the crypto industry, as promised by Trump on the campaign trail. Voters in this election were concerned about the state of the government deficit, which rose 8 per cent in the 2024 fiscal year to $1.8 trillion, and increased tax cuts promised by both Trump and Harris. Bitcoin, like gold, is seen by many investors as a hedge against the potential for fiscal and monetary policy that combine to reduce the value of the dollar and lift inflation. Trump had presented himself as the pro-crypto candidate early in the race and courted the industry directly. That included declarations that he would install a crypto advisory council in his first 100 days in office, establish favourable regulation to encourage domestic “made in the USA” bitcoin mining, launch a strategic national bitcoin stockpile and what perhaps resonated most strongly with the industry replace Securities and Exchange Commission chair Gary Gensler, the CNBC report explained further. Gensler has become an adversary to the crypto industry, which has long been frustrated with the refusal of the SEC, under his leadership, to provide clear guidance for US crypto businesses, choosing instead to regulate by enforcement, the industry says. Because of that, largely, this year’s presidential election has been called the most important one in the crypto industry’s lifetime. “While President-elect Trump has claimed to make the US the ‘crypto capital’ of the world, the details of his plans remain to be seen, and I expect it to take some time to truly understand his stance towards crypto,” said Anthony Yeung, global head of strategic development at CoinCover. “It’s in the interest of the industry that the US moves sooner rather than later when it comes to crafting a regulatory framework,” he said. “What it needs is targeted and proportionate regulation that prioritizes consumer protection and encourages innovation. Striking this balance will require close collaboration between regulators, policymakers and industry participants.” In the 2012, 2016 and 2020 elections, bitcoin saw returns of roughly 87 per cent, 44 per cent and 145 per cent in the 90 days following election day, respectively. That’s in part because election years happen to fall on Bitcoin halving years, when the supply of the cryptocurrency ratchets downward. Post-election returns have also tended to align with major Federal Reserve policy shifts. This year, the market is looking forward to further interest rate reductions.

Bitcoin soars 10% to record high above $76,000 as Trump win signals increased crypto adoption

The dollar soared on Wednesday and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese yuan, and Mexican peso were among the biggest losers on potential new tariffs in the regions.

Trump beat Democrat Vice President Kamala Harris to retake the White House while Republicans also won a US Senate majority. Control of the House of Representatives remains in question, with Republicans currently holding a narrow majority.

A full sweep by Republicans would allow the party to make larger policy changes and in turn would likely provoke larger currency moves.

Trump’s policies on restricting illegal immigration, enacting new tariffs, lower taxes and deregulation may boost growth and inflation and could crimp the Federal Reserve’s ability to cut rates.

<a href="https://www.wionews.com/world/what-trumps-victory-means-for-two-and-a-half-years-of-russia-ukraine-war-774105">Also read:&nbsp;What Trump’s victory means for two and a half years of Russia-Ukraine war</a>

"This can push inflation higher and force the Fed to a slower easing path, which is dollar-positive," said Nikos Tzabouras, senior market specialist at trading platform Tradu.

The eurozone, Mexico, China and Canada are viewed as being at risk of potential new tariffs, which may hurt economic growth in the regions and widen their interest rate differentials with the United States.

Nick Wood, Head of Execution at MillTechFX and Millennium Global notes that currency moves on Wednesday have been orderly, with currency pairs in general seeing volumes around 25 per cent to 30 per cent above usual.

That may have been helped by investors holding relatively light positions heading into the election.

Watch |&nbsp;US Elections 2024: Trump's Actions Will Shape Future Relations, Says Kremlin

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“It seems like elements of the market were actually kind of running quite light in terms of risk, so therefore they can be a little bit more patient in terms of entering positions as opposed to feeling like you're the wrong side of something and having to exit a position at a speed,” he said.

A complicating factor for the dollar outlook longer term, meanwhile, could be that Trump has stated a preference for a weak US currency.

“Both this year, but also during his previous stay at the White House, he had essentially challenged the longstanding strong dollar mantra, because he prefers a weaker currency to help with exports and American economic activity," said Tzabouras.

"And he had also called for lower interest rates, so this could actually pose headwinds for the dollar in the long run as these policies begin to take shape.”

The dollar index was last up 1.72 percent at 105.17 and reached 105.44, the highest since July 3. The euro dropped 1.91 per cent to $1.0720 and got as low as $1.0683, the lowest since June 27.

The greenback rose 1.60 per cent to 154.02 Japanese yen and reached 154.48, the highest since July 30.

The Japanese yen could now approach levels that prompted officials to intervene and shore up the currency earlier this year.

Japan's chief cabinet secretary Yoshimasa Hayashi said on Wednesday that the government intended to closely watch moves on the foreign exchange market, including speculative moves, with a higher sense of urgency.

Trump has also expressed favorable views on cryptocurrencies, which helped to lift bitcoin to a record high of $75,389. It was last up 7.3% at $74,181.

The Fed is expected to cut rates by 25 basis points at the conclusion of its two-day meeting on Thursday and investors will also watch for any new clues on whether the U.S. central bank could pause cuts in December.

A much stronger than expected jobs report for September led investors to pare back expectations on how many times the Fed is likely to cut rates. A much weaker than anticipated report for October has raised some doubts over this view though this data was clouded by the impact of recent hurricanes and labor strikes.

Traders are now pricing 65 per cent odds the Fed will also cut in December, down from 77% on Tuesday, according to the CME Group’s Fed Watch Tool.

The Bank of England is expected to cut rates by 25 basis points on Thursday, while the Riksbank is seen easing by 50 basis points and the Norges Bank is expected to stay on hold.

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION&nbsp;audience.

The dollar soared on Wednesday and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese yuan, and Mexican peso were among the biggest losers on potential new tariffs in the regions.

The dollar soared on Wednesday and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese yuan, and Mexican peso were among the biggest losers on potential new tariffs in the regions. Trump beat Democrat Vice President Kamala Harris to retake the White House while Republicans also won a US Senate majority. Control of the House of Representatives remains in question, with Republicans currently holding a narrow majority. A full sweep by Republicans would allow the party to make larger policy changes and in turn would likely provoke larger currency moves. Trump’s policies on restricting illegal immigration, enacting new tariffs, lower taxes and deregulation may boost growth and inflation and could crimp the Federal Reserve’s ability to cut rates. Also read: What Trump’s victory means for two and a half years of Russia-Ukraine war "This can push inflation higher and force the Fed to a slower easing path, which is dollar-positive," said Nikos Tzabouras, senior market specialist at trading platform Tradu. The eurozone, Mexico, China and Canada are viewed as being at risk of potential new tariffs, which may hurt economic growth in the regions and widen their interest rate differentials with the United States. Nick Wood, Head of Execution at MillTechFX and Millennium Global notes that currency moves on Wednesday have been orderly, with currency pairs in general seeing volumes around 25 per cent to 30 per cent above usual. That may have been helped by investors holding relatively light positions heading into the election. Watch | US Elections 2024: Trump's Actions Will Shape Future Relations, Says Kremlin × “It seems like elements of the market were actually kind of running quite light in terms of risk, so therefore they can be a little bit more patient in terms of entering positions as opposed to feeling like you're the wrong side of something and having to exit a position at a speed,” he said. A complicating factor for the dollar outlook longer term, meanwhile, could be that Trump has stated a preference for a weak US currency. “Both this year, but also during his previous stay at the White House, he had essentially challenged the longstanding strong dollar mantra, because he prefers a weaker currency to help with exports and American economic activity," said Tzabouras. "And he had also called for lower interest rates, so this could actually pose headwinds for the dollar in the long run as these policies begin to take shape.” The dollar index was last up 1.72 percent at 105.17 and reached 105.44, the highest since July 3. The euro dropped 1.91 per cent to $1.0720 and got as low as $1.0683, the lowest since June 27. The greenback rose 1.60 per cent to 154.02 Japanese yen and reached 154.48, the highest since July 30. The Japanese yen could now approach levels that prompted officials to intervene and shore up the currency earlier this year. Japan's chief cabinet secretary Yoshimasa Hayashi said on Wednesday that the government intended to closely watch moves on the foreign exchange market, including speculative moves, with a higher sense of urgency. Trump has also expressed favorable views on cryptocurrencies, which helped to lift bitcoin to a record high of $75,389. It was last up 7.3% at $74,181. The Fed is expected to cut rates by 25 basis points at the conclusion of its two-day meeting on Thursday and investors will also watch for any new clues on whether the U.S. central bank could pause cuts in December. A much stronger than expected jobs report for September led investors to pare back expectations on how many times the Fed is likely to cut rates. A much weaker than anticipated report for October has raised some doubts over this view though this data was clouded by the impact of recent hurricanes and labor strikes. Traders are now pricing 65 per cent odds the Fed will also cut in December, down from 77% on Tuesday, according to the CME Group’s Fed Watch Tool. The Bank of England is expected to cut rates by 25 basis points on Thursday, while the Riksbank is seen easing by 50 basis points and the Norges Bank is expected to stay on hold. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Dollar soars, euro falls after Donald Trump's victory in US presidential election

Bitcoin rallied Tuesday evening, hitting an all-time high as investors bet former President Donald Trump was gaining an edge in the US election as results rolled in, according to a detailed report by CNBC.

The price of the flagship cryptocurrency touched a record $75,000 on the nose, according to Coin Metrics. It hit its previous record of $73,797.68, on March 14 and has been trading in a narrow range below $70,000 for much of the year since then, the CNBC report elaborated further.

Bitcoin’s Tuesday night gains increased as Trump took an early lead in the Electoral College, even though none of the major swing states were called yet by NBC News. Exchange operator Coinbase rose 3 per cent in after-hours trading, while MicroStrategy, advanced 4 per cent.

Investors are expecting bitcoin trading to be choppy until a clear winner is declared. A victory for Vice President Kamala Harris is expected to bring the risk of downside moves to the price of bitcoin, while traders anticipate a bump in price in the event of a win by former President Donald Trump.

“The election is having a massive influence on crypto,” said Ryan Rasmussen, head of research at Bitwise Asset Management. “Expect bitcoin and crypto more broadly, to be choppy in the days ahead until we have definitive election results.”

“If Trump wins, I believe we’ll see new all-time highs,” Rasmussen added. “If Harris wins, I expect a decent short-term sell-off, with prices taking a month or two to recover. But eventually, either way, I think we go higher.”

Bitcoin has a history of positive returns in the 90 days post elections

The CNBC report further explained that, in the 2012, 2016 and 2020 elections, bitcoin saw returns of roughly 87 per cent, 44 per cent and 145 per cent in the 90 days following Election Day, respectively.

&nbsp;That’s in part because election years happen to fall on Bitcoin halving years when the supply of the cryptocurrency ratchets downward. Post-election returns have also tended to align with major Federal Reserve policy shifts. This year, the market is looking forward to further interest rate reductions.

At just below $70,000, bitcoin has been trading at its fair value price heading into Election Day, according to CryptoQuant. That means that if the election proves to be a positive catalyst in the coming days, bitcoin can rally and is poised to establish a new record, CryptoQuant analyst Julio Moreno said.

“For now, everyone we’ve spoken to is keeping their powder dry,” said James Davies, CEO at crypto futures and options trading platform Crypto Valley Exchange. “I’ve heard from numerous leading market makers and traders and can say with conviction that almost everyone is set up to react. They don’t even know which way markets will go based on results. There’s likely to be massive short-term volatility whichever outcome.”

This year’s presidential election has been called the most important one in the crypto industry’s lifetime. Many view a Harris win as a threat to crypto, the extent to which has been debated throughout this election cycle. Trump, on the other hand, is seen by many as a force for good in the industry after he presented himself earlier this year as the pro-crypto candidate and has been courting the industry more directly than Harris has.

Many voters are concerned about the state of the government deficit, which rose 8 per cent in the 2024 fiscal year to $1.8 trillion, and increased tax cuts promised by both candidates. Bitcoin, like gold, is seen by many investors as a hedge against the potential for fiscal and monetary policy that combines to reduce the value of the dollar and lift inflation.

Market participants and global investors will closely follow these developments and the election results. This will help them in taking informed investment decisions going ahead.

Bitcoin rallied Tuesday evening, hitting an all-time high as investors bet former President Donald Trump was gaining an edge in the US election as results rolled in, according to a detailed report by CNBC.

Bitcoin rallied Tuesday evening, hitting an all-time high as investors bet former President Donald Trump was gaining an edge in the US election as results rolled in, according to a detailed report by CNBC. The price of the flagship cryptocurrency touched a record $75,000 on the nose, according to Coin Metrics. It hit its previous record of $73,797.68, on March 14 and has been trading in a narrow range below $70,000 for much of the year since then, the CNBC report elaborated further. Bitcoin’s Tuesday night gains increased as Trump took an early lead in the Electoral College, even though none of the major swing states were called yet by NBC News. Exchange operator Coinbase rose 3 per cent in after-hours trading, while MicroStrategy, advanced 4 per cent. Investors are expecting bitcoin trading to be choppy until a clear winner is declared. A victory for Vice President Kamala Harris is expected to bring the risk of downside moves to the price of bitcoin, while traders anticipate a bump in price in the event of a win by former President Donald Trump. “The election is having a massive influence on crypto,” said Ryan Rasmussen, head of research at Bitwise Asset Management. “Expect bitcoin and crypto more broadly, to be choppy in the days ahead until we have definitive election results.” “If Trump wins, I believe we’ll see new all-time highs,” Rasmussen added. “If Harris wins, I expect a decent short-term sell-off, with prices taking a month or two to recover. But eventually, either way, I think we go higher.” Bitcoin has a history of positive returns in the 90 days post elections The CNBC report further explained that, in the 2012, 2016 and 2020 elections, bitcoin saw returns of roughly 87 per cent, 44 per cent and 145 per cent in the 90 days following Election Day, respectively. That’s in part because election years happen to fall on Bitcoin halving years when the supply of the cryptocurrency ratchets downward. Post-election returns have also tended to align with major Federal Reserve policy shifts. This year, the market is looking forward to further interest rate reductions. At just below $70,000, bitcoin has been trading at its fair value price heading into Election Day, according to CryptoQuant. That means that if the election proves to be a positive catalyst in the coming days, bitcoin can rally and is poised to establish a new record, CryptoQuant analyst Julio Moreno said. “For now, everyone we’ve spoken to is keeping their powder dry,” said James Davies, CEO at crypto futures and options trading platform Crypto Valley Exchange. “I’ve heard from numerous leading market makers and traders and can say with conviction that almost everyone is set up to react. They don’t even know which way markets will go based on results. There’s likely to be massive short-term volatility whichever outcome.” This year’s presidential election has been called the most important one in the crypto industry’s lifetime. Many view a Harris win as a threat to crypto, the extent to which has been debated throughout this election cycle. Trump, on the other hand, is seen by many as a force for good in the industry after he presented himself earlier this year as the pro-crypto candidate and has been courting the industry more directly than Harris has. Many voters are concerned about the state of the government deficit, which rose 8 per cent in the 2024 fiscal year to $1.8 trillion, and increased tax cuts promised by both candidates. Bitcoin, like gold, is seen by many investors as a hedge against the potential for fiscal and monetary policy that combines to reduce the value of the dollar and lift inflation. Market participants and global investors will closely follow these developments and the election results. This will help them in taking informed investment decisions going ahead.

Bitcoin surges to $75,000, a new record, as traders bet Trump has election edge

The dollar rallied broadly on Wednesday as early exit polls in the extremely close U.S. presidential election appeared to give an edge to Republican Donald Trump.

With 10.1 per cent&nbsp;of the vote counted in key battleground state Georgia, Trump had 60.9 per cent&nbsp;to Democrat Kamala Harris' 38.6 per cent, according to Edison Research.

Trump won eight states in the election while Harris captured three states and Washington, D.C., Edison Research projected. The early results were as anticipated, with the contest expected to come down to seven swing states.

Trump's tariff and immigration policies are seen as inflationary by analysts, buoying the dollar.

The dollar index - which measures the currency against six major peers including the euro and yen - rose 0.76 per cent&nbsp;to 104.14 as of 0048 GMT.

Also Read |&nbsp;<a href="https://www.wionews.com/world/us-election-2024-results-live-updates-latest-news-on-2024-presidential-election-donald-trump-vs-kamala-harris-773440">LIVE | US Election 2024: Trump-120, Harris-99, early predictions show</a>

The euro dropped 0.77 per cent&nbsp;to $1.0844, while the dollar added 0.68 per cent&nbsp;to 152.64 yen.

Bitcoin climbed more than 3 per cent&nbsp;to $71,317. Trump is seen as more actively supportive of cryptocurrencies than Harris.

"It is too early to call any of these races and to make any real projections on the results so far, but the U.S. dollar has regained a lot of ground lost recently," said James Kniveton, a senior corporate forex dealer at Convera.

Also Read |&nbsp;<a href="https://www.wionews.com/world/us-election-trump-dodges-questions-on-florida-abortion-ballot-snaps-at-reporter-stop-talking-about-that-773708">Trump dodges ques on abortion, snaps at reporter: 'Stop talking about that'</a>

"Risk currencies such as the AUD that appreciated ahead of a tightening race are having a pullback as Trump racks up some early wins."

The Aussie slid 0.63 per cent&nbsp;to $0.6595.

The U.S. currency jumped more than 1 per cent&nbsp;to 20.3050 Mexican pesos. It rose 0.46 per cent&nbsp;to 7.1291 yuan in offshore trading. Mexico and China are among countries that stand to be hardest hit by Trump tariffs.

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for&nbsp;WION&nbsp;audience.

The dollar rallied broadly on Wednesday as early exit polls in the extremely close U.S. presidential election appeared to give an edge to Republican Donald Trump.

The dollar rallied broadly on Wednesday as early exit polls in the extremely close U.S. presidential election appeared to give an edge to Republican Donald Trump. With 10.1 per cent of the vote counted in key battleground state Georgia, Trump had 60.9 per cent to Democrat Kamala Harris' 38.6 per cent, according to Edison Research. Trump won eight states in the election while Harris captured three states and Washington, D.C., Edison Research projected. The early results were as anticipated, with the contest expected to come down to seven swing states. Trump's tariff and immigration policies are seen as inflationary by analysts, buoying the dollar. The dollar index - which measures the currency against six major peers including the euro and yen - rose 0.76 per cent to 104.14 as of 0048 GMT. Also Read | LIVE | US Election 2024: Trump-120, Harris-99, early predictions show The euro dropped 0.77 per cent to $1.0844, while the dollar added 0.68 per cent to 152.64 yen. Bitcoin climbed more than 3 per cent to $71,317. Trump is seen as more actively supportive of cryptocurrencies than Harris. "It is too early to call any of these races and to make any real projections on the results so far, but the U.S. dollar has regained a lot of ground lost recently," said James Kniveton, a senior corporate forex dealer at Convera. Also Read | Trump dodges ques on abortion, snaps at reporter: 'Stop talking about that' "Risk currencies such as the AUD that appreciated ahead of a tightening race are having a pullback as Trump racks up some early wins." The Aussie slid 0.63 per cent to $0.6595. The U.S. currency jumped more than 1 per cent to 20.3050 Mexican pesos. It rose 0.46 per cent to 7.1291 yuan in offshore trading. Mexico and China are among countries that stand to be hardest hit by Trump tariffs. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

US Election 2024: Trump makes early gains in exit polls, dollar strengthens and bitcoin rises

Bitcoin speculators are bracing for potentially pronounced market volatility in the aftermath of Election Day in the US on Tuesday according to a detailed report by Bloomberg.

A 30-day gauge of implied swings in the largest digital asset has hit the highest level since a global market rout roiled investors in August. The index, compiled by CF Benchmarks Ltd., is derived from CME Group Bitcoin options pricing, the Bloomberg report elaborated further.

The options market also signals expected moves of about 8 per cent in either direction the day after the vote, compared to typically 2 per cent up or down on a normal day, said Caroline Mauron, co-founder of Orbit Markets, a provider of liquidity for trading in crypto derivatives.

“No significant volatility premium is priced in after November 7, suggesting the market expects a fairly quick resolution,” Mauron added. “This might prove optimistic, considering how close a race the polls are showing.”

Difference between Trump and Kamala’s view on crypto-currencies<o:p></o:p>

The contest between Republican nominee Donald Trump and Democratic rival Vice President Kamala Harris is going down to the wire, leaving investors across asset classes preparing for market upheavals. During campaigning, Trump took an avowedly pro-crypto stance, while Harris, in a measured approach, pledged to back a regulatory framework for digital assets.

Both stances stirred optimism in the crypto community given the contrast with an industry crackdown under President Joe Biden. But Trump’s tight embrace of the sector turned Bitcoin into one of a number of so-called Trump trades.

The former president’s lead over Harris in betting markets helped to lift Bitcoin to the verge of a record high a week ago but his odds have since dropped, pushing the token lower. Polling indicates a photo finish, though there are also some encouraging signs for Harris in last-ditch surveys of voter intentions.

An even distribution of bearish and bullish options for Bitcoin throughout October indicates speculators are equally poised for upward and downward movements leading up to the US vote, according to a report from Derive.xyz, a trading venue focused on crypto derivatives.

For the weeks after the election, data from the Deribit exchange hint at a possible $60,000 to $80,000 trading range based on peak open interest, or outstanding contracts, for bearish and bullish wagers, respectively.

Bitcoin churned near $69,000 as of 9 am Monday in London. The digital asset reached an all-time high of $73,798 in March, aided by inflows into dedicated US exchange-traded funds. The original crypto-currency has rallied more than 60 per cent so far in 2024, outperforming assets like stocks and gold.

Market participants and Bitcoin enthusiasts will take these developments into consideration as it will help them in taking better investment calls.

Bitcoin speculators are bracing for potentially pronounced market volatility in the aftermath of Election Day in the US on Tuesday according to a detailed report by Bloomberg.

Bitcoin speculators are bracing for potentially pronounced market volatility in the aftermath of Election Day in the US on Tuesday according to a detailed report by Bloomberg. A 30-day gauge of implied swings in the largest digital asset has hit the highest level since a global market rout roiled investors in August. The index, compiled by CF Benchmarks Ltd., is derived from CME Group Bitcoin options pricing, the Bloomberg report elaborated further. The options market also signals expected moves of about 8 per cent in either direction the day after the vote, compared to typically 2 per cent up or down on a normal day, said Caroline Mauron, co-founder of Orbit Markets, a provider of liquidity for trading in crypto derivatives. “No significant volatility premium is priced in after November 7, suggesting the market expects a fairly quick resolution,” Mauron added. “This might prove optimistic, considering how close a race the polls are showing.” Difference between Trump and Kamala’s view on crypto-currencies The contest between Republican nominee Donald Trump and Democratic rival Vice President Kamala Harris is going down to the wire, leaving investors across asset classes preparing for market upheavals. During campaigning, Trump took an avowedly pro-crypto stance, while Harris, in a measured approach, pledged to back a regulatory framework for digital assets. Both stances stirred optimism in the crypto community given the contrast with an industry crackdown under President Joe Biden. But Trump’s tight embrace of the sector turned Bitcoin into one of a number of so-called Trump trades. The former president’s lead over Harris in betting markets helped to lift Bitcoin to the verge of a record high a week ago but his odds have since dropped, pushing the token lower. Polling indicates a photo finish, though there are also some encouraging signs for Harris in last-ditch surveys of voter intentions. An even distribution of bearish and bullish options for Bitcoin throughout October indicates speculators are equally poised for upward and downward movements leading up to the US vote, according to a report from Derive.xyz, a trading venue focused on crypto derivatives. For the weeks after the election, data from the Deribit exchange hint at a possible $60,000 to $80,000 trading range based on peak open interest, or outstanding contracts, for bearish and bullish wagers, respectively. Bitcoin churned near $69,000 as of 9 am Monday in London. The digital asset reached an all-time high of $73,798 in March, aided by inflows into dedicated US exchange-traded funds. The original crypto-currency has rallied more than 60 per cent so far in 2024, outperforming assets like stocks and gold. Market participants and Bitcoin enthusiasts will take these developments into consideration as it will help them in taking better investment calls.

Bitcoin traders prepare for fierce price swings with US election just hours away

Bitcoin is closing in on its previous record high of nearly 74,000 dollars hit in march this year. For the past week, the top token is up 2.6 percent. In October, bitcoin rose 13 percent and is up more than 101 percent over the past year.

Bitcoin Closing In On March's Record

Let's look at wion's monthly global economic health check. First, let's look at how global markets performed in october. Broadly, commodities, digital assets and the dollar rose, driven by differing bets. Bitcoin surged over 10% on the so-called 'trump trade,' with the top token now on the verge of breaching its previous record high set in march. Gold was the other big benficiary in october.

Gold, Bitcoin Register Gains in a Volatile Month

A man dressed up in a colourful, quite flamboyant style, sporting a long grey beard claims to be the inventor of Bitcoin- the ‘real’ founder of the cryptocurrency, Satoshi Nakamoto.&nbsp;

On Thursday (Oct 31), a dozen journalists gathered at a London club to meet the inventor, a man named Stephen Mollah, and ask him about his identity.&nbsp;

BBC News reporter Joe Tidy, who attended the event, mentioned that attendees were asked to pay £500 to participate and ask questions.

Also Read |&nbsp;<a href="https://www.wionews.com/world/january-6-will-be-fun-maga-activist-plans-to-overturn-harris-potential-win-says-report-772469">'January 6 will be fun': MAGA activist plans to overturn Harris' potential win, says report</a>

“A man called Stephen Mollah has taken to the stage. He claims to be Satoshi Nakamoto – the mystery inventor of Bitcoin. He’s claimed this before and is currently in a legal dispute about it. He will now provide evidence, he says,” Tidy continued.

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I’m at a London event billed as the ‘unveiling of the true legal identity of Bitcoin inventor Satoshi Nakamoto’. An odd set up to the press conference as the organiser asked me to pay £500 to attend and appear on stage to ask questions of the billionaire mystery man. <a href="https://t.co/3oTB6qX20U">pic.twitter.com/3oTB6qX20U</a>
— Joe Tidy (@joetidy) <a href="https://twitter.com/joetidy/status/1851951370988859631?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote>
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The event began with a presentation by Mollah and organizer Charles Anderson, which included a strange monologue about Anderson's alleged inventions.&nbsp;

After some 40 minutes, Mollah took the stage, all dressed up in an eccentric manner, and claimed to be Satoshi Nakamoto.

He described himself as a businessperson and an economic and monetary scientist.&nbsp;

What followed was more of a grilling session than an interview. But that didn’t stop Mollah from “revealing the truth to the world”. He further claimed to have invented the Twitter (now X) logo, the Eurobrand and of course the ChatGPT protocol.&nbsp;

Mollah also presented screenshots of Nakamoto’s posts on a Bitcoin forum from nearly 16 years ago, which were deemed easy to fake. He claimed the posts were timestamped and had paper copies as proof.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/technology/openai-takes-on-googles-search-engine-by-adding-new-search-function-to-chatgpt-772505">OpenAI takes on Google's search engine by adding new search function to ChatGPT</a>

When asked to perform a live transfer of Nakamoto's famed Genesis coins, Mollah stated he did not have the keys to those early Bitcoin wallets, which were split into eight parts and stored on eight computers around the world.

He went on to say that there are some groups that are attempting to hack his devices for the massive crypto haul.

Despite several claims and efforts to prove himself as Bitcoin’s creator, Mollah’s presentation fell flat, exposing a struggle to present convincing proof amid scepticism.

<h2>How internet reacted to ‘new’ Satoshi Nakamoto</h2>

Mollah is the latest in a series of individuals claiming to be Nakamoto, with previous claimants like Australian computer scientist Craig Wright, who was ruled not to be the Bitcoin inventor by England's High Court.&nbsp;

Here’s how netizens reacted to ‘new’ Satoshi Nakamoto:

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Stephen "Satoshi Nakamoto" Mollah, ladies and gentlemen. 
 
Again no signing, also can't code in C++, but... over 1,000 less forgeries as Craig Wright, I'll give him that. <a href="https://t.co/WU1EtHvFAM">pic.twitter.com/WU1EtHvFAM</a>
— Arthur van Pelt 🔥 ∞/21M ⚡ (@Arthur_van_Pelt) <a href="https://twitter.com/Arthur_van_Pelt/status/1851970137525493863?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote>
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It was nice to see you all dressing up for <a href="https://twitter.com/hashtag/Halloween?src=hash&amp;ref_src=twsrc%5Etfw">#Halloween</a> 
 
My absolute favorite costume was for sure Stephen Mollah as "Satoshi Nakamoto" 👻 🎃 <a href="https://t.co/Km5tLg9gt3">pic.twitter.com/Km5tLg9gt3</a>
— Mr. M (@MrMPodcast) <a href="https://twitter.com/MrMPodcast/status/1852244252039823462?ref_src=twsrc%5Etfw">November 1, 2024</a></blockquote>
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POV: you discover that Satoshi Nakamoto has been Stephen Mollah all this time 
 
(it's over bois, pack it up) 
 
/s <a href="https://t.co/Hg8H9jn1vx">pic.twitter.com/Hg8H9jn1vx</a>
— LN Markets (@LNMarkets) <a href="https://twitter.com/LNMarkets/status/1852211736721473912?ref_src=twsrc%5Etfw">November 1, 2024</a></blockquote>
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Mollah and Anderson are currently involved in a legal battle over their claim, with a private prosecution by alleged victim Dlmit Dohil accusing them of dishonestly claiming that Mollah was Nakamoto, exposing him to a risk of loss. Both pleaded not guilty to fraud by false representation and were given bail, with a trial set for November 3 next year.

(With inputs from agencies)

A man dressed up in a colourful, quite flamboyant style, sporting a long grey beard claims to be the inventor of Bitcoin- the ‘real’ founder of the cryptocurrency, Satoshi Nakamoto.

A man dressed up in a colourful, quite flamboyant style, sporting a long grey beard claims to be the inventor of Bitcoin- the ‘real’ founder of the cryptocurrency, Satoshi Nakamoto. On Thursday (Oct 31), a dozen journalists gathered at a London club to meet the inventor, a man named Stephen Mollah, and ask him about his identity. BBC News reporter Joe Tidy, who attended the event, mentioned that attendees were asked to pay £500 to participate and ask questions. Also Read | 'January 6 will be fun': MAGA activist plans to overturn Harris' potential win, says report “A man called Stephen Mollah has taken to the stage. He claims to be Satoshi Nakamoto – the mystery inventor of Bitcoin. He’s claimed this before and is currently in a legal dispute about it. He will now provide evidence, he says,” Tidy continued. I’m at a London event billed as the ‘unveiling of the true legal identity of Bitcoin inventor Satoshi Nakamoto’. An odd set up to the press conference as the organiser asked me to pay £500 to attend and appear on stage to ask questions of the billionaire mystery man. pic.twitter.com/3oTB6qX20U — Joe Tidy (@joetidy) October 31, 2024 × The event began with a presentation by Mollah and organizer Charles Anderson, which included a strange monologue about Anderson's alleged inventions. After some 40 minutes, Mollah took the stage, all dressed up in an eccentric manner, and claimed to be Satoshi Nakamoto. He described himself as a businessperson and an economic and monetary scientist. What followed was more of a grilling session than an interview. But that didn’t stop Mollah from “revealing the truth to the world”. He further claimed to have invented the Twitter (now X) logo, the Eurobrand and of course the ChatGPT protocol. Mollah also presented screenshots of Nakamoto’s posts on a Bitcoin forum from nearly 16 years ago, which were deemed easy to fake. He claimed the posts were timestamped and had paper copies as proof. Also Read | OpenAI takes on Google's search engine by adding new search function to ChatGPT When asked to perform a live transfer of Nakamoto's famed Genesis coins, Mollah stated he did not have the keys to those early Bitcoin wallets, which were split into eight parts and stored on eight computers around the world. He went on to say that there are some groups that are attempting to hack his devices for the massive crypto haul. Despite several claims and efforts to prove himself as Bitcoin’s creator, Mollah’s presentation fell flat, exposing a struggle to present convincing proof amid scepticism. How internet reacted to ‘new’ Satoshi Nakamoto Mollah is the latest in a series of individuals claiming to be Nakamoto, with previous claimants like Australian computer scientist Craig Wright, who was ruled not to be the Bitcoin inventor by England's High Court. Here’s how netizens reacted to ‘new’ Satoshi Nakamoto: Stephen "Satoshi Nakamoto" Mollah, ladies and gentlemen. Again no signing, also can't code in C++, but... over 1,000 less forgeries as Craig Wright, I'll give him that. pic.twitter.com/WU1EtHvFAM — Arthur van Pelt 🔥 ∞/21M ⚡ (@Arthur_van_Pelt) October 31, 2024 × It was nice to see you all dressing up for #Halloween My absolute favorite costume was for sure Stephen Mollah as "Satoshi Nakamoto" 👻 🎃 pic.twitter.com/Km5tLg9gt3 — Mr. M (@MrMPodcast) November 1, 2024 × POV: you discover that Satoshi Nakamoto has been Stephen Mollah all this time (it's over bois, pack it up) /s pic.twitter.com/Hg8H9jn1vx — LN Markets (@LNMarkets) November 1, 2024 × Mollah and Anderson are currently involved in a legal battle over their claim, with a private prosecution by alleged victim Dlmit Dohil accusing them of dishonestly claiming that Mollah was Nakamoto, exposing him to a risk of loss. Both pleaded not guilty to fraud by false representation and were given bail, with a trial set for November 3 next year. (With inputs from agencies)

Who is Stephen Mollah, man claiming to be 'real' founder of Bitcoin? Internet calls him Faketoshi

Bitcoin briefly climbed above $70,000 as investors braced themselves for MicroStrategy earnings and counted the days to the US presidential election according to a detailed report by CNBC.

The CNBC report further explained that, the price of bitcoin was last higher by about 3 per cent at $69,925.00, according to Coin Metrics. Further, at about 6:00 p.m. Eastern on October 28, it touched $70,207.02 and has been oscillating since.

Stocks tied to the price of the cryptocurrency were little changed in extended trading. In regular trading on October 28, crypto exchange platform Coinbase rallied by 5 per cent and bitcoin proxy MicroStrategy soared by nearly 9 per cent.

The last time bitcoin touched $70,000 was in June of this year. It has tested that level several times this year, after hitting a record of $73,797.68 in March. Earlier forays above $70,000 have been limited to mere blips.

Optimism is building towards the US elections<o:p></o:p>

Optimism is building ahead of the US presidential election next week. Bitcoin has been confined to a tight range between $55,000 and $70,000.

Still, it may be poised for a breakout with stocks hitting new highs this month. As there are major events to follow in the first week of November, election day on November 5 and another Federal Reserve rate policy decision on November 7.

Donald Trump has presented himself as pro-crypto<o:p></o:p>

Republican nominee and former president Donald Trump has been courting the crypto industry this year and presented himself as the pro-crypto candidate. Whereas democratic nominee and Vice President Kamala Harris have been more muted on crypto, and the industry is split on how her potential presidency could affect crypto companies.

The outcome is widely viewed as a key catalyst for future price action in the bitcoin, but investors have watching and waiting as the election approaches. Last week, bitcoin surged toward $70,000, but it ultimately fell short of the threshold.

Investors are also watching for earnings from Coinbase and MicroStrategy, both slated for October 30. On October 28, MicroStrategy, which trades as a high-beta play on the price of bitcoin, registered its highest close since March 15, 2000. MicroStrategy is looking to extend its seven-week win streak, its longest since rally since an 11-week streak that ended in late October 2010.

Market participants and investors are going to closely watch these developments in bitcoin and take informed investment decisions based on the outcome of the US elections. 

<o:p>&nbsp;</o:p>

<o:p>&nbsp;</o:p>

Bitcoin briefly climbed above $70,000 as investors braced themselves for MicroStrategy earnings and counted the days to the US presidential election according to a detailed report by CNBC.

Bitcoin briefly climbed above $70,000 as investors braced themselves for MicroStrategy earnings and counted the days to the US presidential election according to a detailed report by CNBC. The CNBC report further explained that, the price of bitcoin was last higher by about 3 per cent at $69,925.00, according to Coin Metrics. Further, at about 6:00 p.m. Eastern on October 28, it touched $70,207.02 and has been oscillating since. Stocks tied to the price of the cryptocurrency were little changed in extended trading. In regular trading on October 28, crypto exchange platform Coinbase rallied by 5 per cent and bitcoin proxy MicroStrategy soared by nearly 9 per cent. The last time bitcoin touched $70,000 was in June of this year. It has tested that level several times this year, after hitting a record of $73,797.68 in March. Earlier forays above $70,000 have been limited to mere blips. Optimism is building towards the US elections Optimism is building ahead of the US presidential election next week. Bitcoin has been confined to a tight range between $55,000 and $70,000. Still, it may be poised for a breakout with stocks hitting new highs this month. As there are major events to follow in the first week of November, election day on November 5 and another Federal Reserve rate policy decision on November 7. Donald Trump has presented himself as pro-crypto Republican nominee and former president Donald Trump has been courting the crypto industry this year and presented himself as the pro-crypto candidate. Whereas democratic nominee and Vice President Kamala Harris have been more muted on crypto, and the industry is split on how her potential presidency could affect crypto companies. The outcome is widely viewed as a key catalyst for future price action in the bitcoin, but investors have watching and waiting as the election approaches. Last week, bitcoin surged toward $70,000, but it ultimately fell short of the threshold. Investors are also watching for earnings from Coinbase and MicroStrategy, both slated for October 30. On October 28, MicroStrategy, which trades as a high-beta play on the price of bitcoin, registered its highest close since March 15, 2000. MicroStrategy is looking to extend its seven-week win streak, its longest since rally since an 11-week streak that ended in late October 2010. Market participants and investors are going to closely watch these developments in bitcoin and take informed investment decisions based on the outcome of the US elections.

Building up to the US election, Bitcoin briefly tops $70,000 for the first time since June

Bitcoin has reached its highest level since July 2024, propelling a wave of optimism across the cryptocurrency market and significantly boosting crypto-related stocks. This surge comes as investors react to a combination of positive market sentiment and macroeconomic factors that have reignited interest in digital currencies as detailed in a report by CNBC. <o:p></o:p>

Market dynamics fuel Bitcoin's rise<o:p></o:p>

On October 16, Bitcoin climbed to approximately $68,000, marking a notable increase of over 10 per cent in just a few days. This surge has been attributed to various factors, including a resurgence of institutional interest and ongoing discussions regarding regulatory frameworks that could provide greater clarity for investors.

Analysts suggest that one reason for bitcoin’s 53 per cent&nbsp;gain so far this year is a host of new spot bitcoin exchange-traded funds that hit the market in January, welcoming in a host of new investors. Ether ETFs followed in July.

Investors have bought $1.2 billion in ETF shares in the past three days, bringing total holdings to more than $63 billion. BlackRock’s iShares Bitcoin Trust (IBIT) has accounted for more than 30 per cent&nbsp;of the new purchases.

<o:p></o:p>

The rise in Bitcoin's value has had a ripple effect on the broader cryptocurrency market. Major altcoins such as Ethereum and Cardano have also experienced substantial gains, with many investors diversifying their portfolios in response to Bitcoin's upward trajectory. The overall market capitalisation of cryptocurrencies has surged past $1 trillion, reflecting the growing confidence among investors.<o:p></o:p>

Impact on crypto-related stocks<o:p></o:p>

The bullish trend in Bitcoin has not only invigorated the cryptocurrency itself but has also led to impressive gains for companies involved in the crypto space. Stocks of firms like Coinbase and MicroStrategy have seen significant increases, with Coinbase reporting a rise of nearly 15 per cent following Bitcoin's surge. This trend highlights the interconnectedness of cryptocurrency prices and the performance of related businesses.

<o:p>Samara Cohen, chief investment officer of ETF and index investments at BlackRock , stated that 80 per cent of buyers of&nbsp;iShares Bitcoin Trust ETF&nbsp;(IBIT) are direct investors. Of those, 75 per cent have never owned a BlackRock ETF, she said.</o:p>

Investors are closely monitoring these developments, as the performance of crypto-related stocks often mirrors movements in the underlying digital assets. The recent uptick in Bitcoin's price has prompted many analysts to reassess their forecasts for both cryptocurrencies and the companies that support them.<o:p></o:p>

Regulatory landscape and future prospects<o:p></o:p>

As Bitcoin continues to gain momentum, discussions surrounding improved regulation remain at the forefront of investor considerations. The potential improvements in the rules and the norms of a spot Bitcoin ETF is viewed as a critical turning point that could legitimise cryptocurrency investments for a broader audience. Regulatory clarity could also encourage institutional players to enter the market more aggressively, further driving demand for Bitcoin and its associated assets.<o:p></o:p>

Experts believe that if this momentum persists, Bitcoin could challenge its all-time high of nearly $69,000 reached in November 2021. However, they caution that volatility remains inherent to the cryptocurrency market, and investors should remain vigilant as they navigate these fluctuations.<o:p></o:p>

Hence, Bitcoin's recent surge to its highest level since July has not only revitalised interest in cryptocurrencies but has also positively impacted related stocks

As the market adapts to evolving regulatory landscapes and investor sentiment shifts, all eyes will be on Bitcoin's next moves and their implications for the broader financial ecosystem. With increasing institutional interest and potential regulatory advancements on the horizon, potential investors will keenly observe the asset class and take informed investment decisions depending on how the reglatory framework governing the crypto asset class evolves.

Bitcoin has reached its highest level since July 2024, propelling a wave of optimism across the cryptocurrency market and significantly boosting crypto-related stocks.

Bitcoin has reached its highest level since July 2024, propelling a wave of optimism across the cryptocurrency market and significantly boosting crypto-related stocks. This surge comes as investors react to a combination of positive market sentiment and macroeconomic factors that have reignited interest in digital currencies as detailed in a report by CNBC. Market dynamics fuel Bitcoin's rise On October 16, Bitcoin climbed to approximately $68,000, marking a notable increase of over 10 per cent in just a few days. This surge has been attributed to various factors, including a resurgence of institutional interest and ongoing discussions regarding regulatory frameworks that could provide greater clarity for investors. Analysts suggest that one reason for bitcoin’s 53 per cent gain so far this year is a host of new spot bitcoin exchange-traded funds that hit the market in January, welcoming in a host of new investors. Ether ETFs followed in July. Investors have bought $1.2 billion in ETF shares in the past three days, bringing total holdings to more than $63 billion. BlackRock’s iShares Bitcoin Trust (IBIT) has accounted for more than 30 per cent of the new purchases. The rise in Bitcoin's value has had a ripple effect on the broader cryptocurrency market. Major altcoins such as Ethereum and Cardano have also experienced substantial gains, with many investors diversifying their portfolios in response to Bitcoin's upward trajectory. The overall market capitalisation of cryptocurrencies has surged past $1 trillion, reflecting the growing confidence among investors. Impact on crypto-related stocks The bullish trend in Bitcoin has not only invigorated the cryptocurrency itself but has also led to impressive gains for companies involved in the crypto space. Stocks of firms like Coinbase and MicroStrategy have seen significant increases, with Coinbase reporting a rise of nearly 15 per cent following Bitcoin's surge. This trend highlights the interconnectedness of cryptocurrency prices and the performance of related businesses. Samara Cohen, chief investment officer of ETF and index investments at BlackRock , stated that 80 per cent of buyers of iShares Bitcoin Trust ETF (IBIT) are direct investors. Of those, 75 per cent have never owned a BlackRock ETF, she said. Investors are closely monitoring these developments, as the performance of crypto-related stocks often mirrors movements in the underlying digital assets. The recent uptick in Bitcoin's price has prompted many analysts to reassess their forecasts for both cryptocurrencies and the companies that support them. Regulatory landscape and future prospects As Bitcoin continues to gain momentum, discussions surrounding improved regulation remain at the forefront of investor considerations. The potential improvements in the rules and the norms of a spot Bitcoin ETF is viewed as a critical turning point that could legitimise cryptocurrency investments for a broader audience. Regulatory clarity could also encourage institutional players to enter the market more aggressively, further driving demand for Bitcoin and its associated assets. Experts believe that if this momentum persists, Bitcoin could challenge its all-time high of nearly $69,000 reached in November 2021. However, they caution that volatility remains inherent to the cryptocurrency market, and investors should remain vigilant as they navigate these fluctuations. Hence, Bitcoin's recent surge to its highest level since July has not only revitalised interest in cryptocurrencies but has also positively impacted related stocks As the market adapts to evolving regulatory landscapes and investor sentiment shifts, all eyes will be on Bitcoin's next moves and their implications for the broader financial ecosystem. With increasing institutional interest and potential regulatory advancements on the horizon, potential investors will keenly observe the asset class and take informed investment decisions depending on how the reglatory framework governing the crypto asset class evolves.

Bitcoin hits highest level since July, boosting Crypto-related stocks

Who is the Bitcoin creator who goes by the pseudonym 'Satoshi Nakamoto'? A new documentary from HBO is suggesting that the founder of the top cryptocurrency is the software engineer Peter Todd. But Todd has denied he was the inventor of one of the first cryptocurrencies that hit the market over a decade ago.

The purported revelation and its denial add one more layer to the enduring mystery of the identity of Satoshi Nakamoto. Several people have been identified as the creator, with some even going to court to make the claim.

Watch: Bitcoin enters its sweet sixteen

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The HBO documentary Money Electric: The Bitcoin Mystery which aired on Tuesday night (Oct 8) in the US features a series of interviews with coders and cryptographers involved in the early development of Bitcoin, such as Blockstream CEO Adam Back.&nbsp;

But for many in the crypto community, director Cullen Hoback did not give any solid proof to back the claim regarding Todd.

Todd himself said it is ironic that a director who is also known for a documentary on the conspiracy theory group QAnon "has resorted to QAnon style coincidence-based conspiracy thinking here too".

As the buzz around the documentary built up, Todd simply wrote&nbsp;on his X handle,&nbsp;"I'm not Satoshi."

Todd was replying to a post by BitMex Research that asked him to come forward and make a public statement.​

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<blockquote class="twitter-tweet">
I'm not Satoshi.
— Peter Todd (@peterktodd) <a href="https://twitter.com/peterktodd/status/1843789750983110697?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
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Todd was a Bitcoin core developer. The theory that he is Satoshi was made in the documentary from similarities in the writing styles of Satoshi and Todd in Bitcoin forums.

Todd's work with Hashcash, a crypto-related tech firm, was also cited as evidence.

The crypto community was, however, dismissive about the documentary, terming it speculative. They accused it of&nbsp;relying on circumstantial evidence, saying it had confirmation bias similar to a Newsweek magazine article in 2014 that claimed to have identified Satoshi, only to be debunked.

<a href="https://www.wionews.com/business-economy/wikileaks-244-million-bitcoin-war-chest-735297">Also read: WikiLeaks' $244 million Bitcoin 'war chest'</a>

Crypto monitoring site Decrypt quoted Samson Mow, the CEO of Bitcoin tech firm JAN3 as saying that the director "probably has a case for it,” &nbsp;but added, “I did say on record in the documentary that it’s probably not Peter.”

Much of the focus of the documentary to 'nail' Todd as the inventor of Bitcoin is from a specific forum post, where Todd, in reply to Satoshi, appears to continue the stream of thought of Satoshi. It looked as if the same person was using multiple accounts, according to the documentary.

<h2>Who is Satoshi Nakamoto? The many people associated with the mysterious Bitcoin creator</h2>

While the general consensus is that one or a group of people may have used the pseudonym, Satoshi Nakamoto, it is yet to be conclusively proven who the person behind the Japanese-sounding name is/are.

Several names have been cited in the past, with one person even going to court to prove he is Satoshi.

Hal Finney, a cryptography pioneer, was one such person, as he was the first to use the software behind Bitcoin.

Finneya's neighbour Dorian Prentice Satoshi Nakamoto, a Japanese-American man living in California, was long-speculated to be the mystery creator of the cryptocurrency, most firmly in a 2014 Newsweek article. The article was widely discussed but eventually, the man himself rejected any connection to Bitcoin.

Nick Szabo, a decentralised currency enthusiast was speculated to be Satoshi, partly based on the fact that he had published a paper on a precursor to Bitcoin that was called 'bit gold'.

Craig Steven Wright, an Australian academic, went to court to prove that he was Satoshi, even suing for libel those who rejected his claims. In March this year, his claim was dismissed by a British court.

<a href="https://www.wionews.com/world/computer-scientist-craig-wright-is-not-the-inventor-of-bitcoin-uk-judge-rules-700140">Also read: Computer scientist Craig Wright is not the inventor of Bitcoin, UK judge rules</a> 
 
Finnish sociologist Vili Lehdonvirta and cryptography student Michael Clear were at one point named Satoshi, a claim denied by both of them.

Based on the dates and similarity in the phrase 'computationally impractical to reverse' used in a patent filing and a white paper on Bitcoin, three people - Neal King, Vladimir Oksman and Charles Bry- were identified as possible candidates for Satoshi. They also rejected the claim.

<h2>We will never know who is Satoshi because...</h2>

Satoshi Nakamoto also holds some of the original Bitcoin. This means that there are financial, and possibly taxation, implications for the person or persons to reveal their identity. It could even attract criminals to them.

As per an estimate made in 2021, Satoshi Nakamoto may be owning up to 1 million Bitcoin. At the going rate of the time (which was $68,000), that would add up to $73 billion, making him/them the 15th richest person/s in the world in 2021.&nbsp;

Bitcoin, in spite of its volatility, is still going strong. At the time of writing this, it's valued at $63,126.&nbsp;

As you can see, being Satoshi Nakamoto is a risky business. 
 
(With inputs from agencies)

Who is the Bitcoin creator who goes by the pseudonym 'Satoshi Nakamoto'? A new documentary from HBO is suggesting that the founder of the top cryptocurrency is the software engineer Peter Todd.

Who is the Bitcoin creator who goes by the pseudonym 'Satoshi Nakamoto'? A new documentary from HBO is suggesting that the founder of the top cryptocurrency is the software engineer Peter Todd. But Todd has denied he was the inventor of one of the first cryptocurrencies that hit the market over a decade ago. The purported revelation and its denial add one more layer to the enduring mystery of the identity of Satoshi Nakamoto. Several people have been identified as the creator, with some even going to court to make the claim. Watch: Bitcoin enters its sweet sixteen × The HBO documentary Money Electric: The Bitcoin Mystery which aired on Tuesday night (Oct 8) in the US features a series of interviews with coders and cryptographers involved in the early development of Bitcoin, such as Blockstream CEO Adam Back. But for many in the crypto community, director Cullen Hoback did not give any solid proof to back the claim regarding Todd. Todd himself said it is ironic that a director who is also known for a documentary on the conspiracy theory group QAnon "has resorted to QAnon style coincidence-based conspiracy thinking here too". As the buzz around the documentary built up, Todd simply wrote on his X handle, "I'm not Satoshi." Todd was replying to a post by BitMex Research that asked him to come forward and make a public statement. I'm not Satoshi. — Peter Todd (@peterktodd) October 8, 2024 × Todd was a Bitcoin core developer. The theory that he is Satoshi was made in the documentary from similarities in the writing styles of Satoshi and Todd in Bitcoin forums. Todd's work with Hashcash, a crypto-related tech firm, was also cited as evidence. The crypto community was, however, dismissive about the documentary, terming it speculative. They accused it of relying on circumstantial evidence, saying it had confirmation bias similar to a Newsweek magazine article in 2014 that claimed to have identified Satoshi, only to be debunked. Also read: WikiLeaks' $244 million Bitcoin 'war chest' Crypto monitoring site Decrypt quoted Samson Mow, the CEO of Bitcoin tech firm JAN3 as saying that the director "probably has a case for it,” but added, “I did say on record in the documentary that it’s probably not Peter.” Much of the focus of the documentary to 'nail' Todd as the inventor of Bitcoin is from a specific forum post, where Todd, in reply to Satoshi, appears to continue the stream of thought of Satoshi. It looked as if the same person was using multiple accounts, according to the documentary. Who is Satoshi Nakamoto? The many people associated with the mysterious Bitcoin creator While the general consensus is that one or a group of people may have used the pseudonym, Satoshi Nakamoto, it is yet to be conclusively proven who the person behind the Japanese-sounding name is/are. Several names have been cited in the past, with one person even going to court to prove he is Satoshi. Hal Finney, a cryptography pioneer, was one such person, as he was the first to use the software behind Bitcoin. Finneya's neighbour Dorian Prentice Satoshi Nakamoto, a Japanese-American man living in California, was long-speculated to be the mystery creator of the cryptocurrency, most firmly in a 2014 Newsweek article. The article was widely discussed but eventually, the man himself rejected any connection to Bitcoin. Nick Szabo, a decentralised currency enthusiast was speculated to be Satoshi, partly based on the fact that he had published a paper on a precursor to Bitcoin that was called 'bit gold'. Craig Steven Wright, an Australian academic, went to court to prove that he was Satoshi, even suing for libel those who rejected his claims. In March this year, his claim was dismissed by a British court. Also read: Computer scientist Craig Wright is not the inventor of Bitcoin, UK judge rules Finnish sociologist Vili Lehdonvirta and cryptography student Michael Clear were at one point named Satoshi, a claim denied by both of them. Based on the dates and similarity in the phrase 'computationally impractical to reverse' used in a patent filing and a white paper on Bitcoin, three people - Neal King, Vladimir Oksman and Charles Bry- were identified as possible candidates for Satoshi. They also rejected the claim. We will never know who is Satoshi because... Satoshi Nakamoto also holds some of the original Bitcoin. This means that there are financial, and possibly taxation, implications for the person or persons to reveal their identity. It could even attract criminals to them. As per an estimate made in 2021, Satoshi Nakamoto may be owning up to 1 million Bitcoin. At the going rate of the time (which was $68,000), that would add up to $73 billion, making him/them the 15th richest person/s in the world in 2021. Bitcoin, in spite of its volatility, is still going strong. At the time of writing this, it's valued at $63,126. As you can see, being Satoshi Nakamoto is a risky business. (With inputs from agencies)

Bitcoin creator Satoshi Nakamoto is Peter Todd, says HBO doc, he denies it. Truth may never come out as...

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