Why is Trump’s election as US president prompting a Bitcoin surge? | Donald Trump News
Bitcoin surged to a record high of $89,000 on Tuesday as investors pumped money into cryptocurrencies following the election of Donald Trump as United States president, who has turned from a cypto-sceptic to an investor himself.
Bitcoin, the oldest and the largest crypto currency, has seen its value go up by 30 percent in the past week. It is not the only cryptocurrency on the move. Since Trump’s victory, Dogecoin — a currency backed by Trump ally Elon Musk — has surged 152 percent.
Cryptocurrency is a “digital alternative” to traditional money and works online without a central authority. But it has long also been very volatile and has faced government curbs in several parts of the world.
So how is the crypto spike linked to…
