The value of other currencies, such as the peso and the dollar, is also affected by Trump’s possible victory.
Bitcoin has reached its highest value in history as early results suggest the Republican candidate donald trump could be on track to win the 2024 US presidential election.
The virtual currency rose 7% and reached a maximum of 70,022 eurosaccording to Reuters. This figure is higher than the previous high reached by Bitcoin in March. Since then, the value has decreased slightly, reaching around 69,089 euros.
Many investors believe that former President Trump is a candidate more desirable than harris for cryptocurrency. However, it was not always like this. In an interview with ‘Fox News’ in 2021, Trump called Bitcoin a “scam”. He said that Bitcoin should be more regulated to avoid interference with US markets, and that “the currency of the world should be the dollar.”
As Trump approaches the 2024 election, his rhetoric on cryptocurrency regulation has softened. In August, Trump expressed his desire to turn the United States into the “crypto capital of the planet.”
The Democratic candidate Kamala Harris He also told Bloomberg that he would support policies that guarantee growth of the cryptocurrency industry. However, the Biden administration’s moves to regulate digital assets may have called these promises into question.
Other currencies are also reflecting market reaction before Trump’s possible victory. The value of mexican peso has reached its highest level low in two years, trading at 20.5260 pesos per US dollar. This is the weakest value of the currency since September 2022.
Earlier this week, Trump promised to impose 25% tariffs on Mexican exports amid concerns about the drug smuggling to the United States. He value of the US dollar also rose 1.24%, according to the dollar index, which weights it against its main competitors, including the euro and the Canadian dollar.
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