Trump has pledged to create a friendly regulatory framework for crypto, set up a strategic Bitcoin stockpile and make the US the global hub for the industry. A onetime crypto skeptic, Trump reversed course after digital-asset companies spent heavily during election campaigning to promote their interests.
A surge in Bitcoin has paused as traders assess the remaining market impact of President-elect Donald Trump’s rhetorical support for crypto.
The digital asset is up about 31% in the wake of Trump’s Nov 5 election victory, hitting a record of US$89,968 ($120418.12) on Tuesday, based on data compiled by Bloomberg. It changed hands at US$87,940 as of 11am Wednesday in Singapore.
