Bitcoin is rising on optimism that President-elect Trump will keep his promise to support Bitcoin and the crypto industry in general.
Republicans have won control of the Senate, while the House of Representatives remains up for grabs.
And as the future balance of power comes into focus, Republican Senator Cynthia Lummis of Wyoming promises that the US will hold BTC as a strategic reserve.
During his campaign, Trump promised that the US under his administration would stop selling seized Bitcoin on the open market, and instead strategically hold the asset as an investment.
The president-elect also pledged to fire Gary Gensler, chairman of the U.S. Securities and Exchange Commission, to end policies that prevent crypto investors and companies from using digital assets and to support people’s right to own crypto assets in their own pockets.
Bitcoin’s price has hit a new all-time high of $75,883, and now stands at $75,758 at the time of publication.
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Featured image: Shutterstock/80’s Child
