Asia crypto hotspots reap gains from record Trump trade rally
SINGAPORE – A record-breaking crypto rally born in the United States is leaving its mark on Asia, including a jump in the value of Bitcoin held by Bhutan to more than US$1 billion (S$1.3 billion) and a surge in digital-asset trading volumes in South Korea.
The crypto market by some estimates has climbed over US$800 billion since Donald Trump’s victory in the US election on Nov 5, on hopes that his pledge to turn the US into the global hub for the sector will spur a digital-asset boom.
Asia is being impacted by the burst of optimism as a clutch of jurisdictions in the region are at the forefront of crypto adoption, whether for investment, hedging local currency weakness or cheaper and faster remittances.
In Bhutan, state investment…
