- Bitcoin rises above $75,000 ahead of a Trump victory.
- Pro-Trump crypto bets hit the jackpot, making millions overnight.
As the US presidential election results rolled in, crypto investors were on the edge of their seats, with many predicting that Donald Trump’s success could provide new momentum. Bitcoin [BTC] collection.
Well, the market did not disappoint. Before the results even came in, BTC broke the $75,000 mark and hit an all-time high before stabilizing around $73,589 at the time of writing.
Furthermore, 98% of Bitcoin holders saw profits at this remarkable level facts from Glasnode.
Trump announces early victory
After a nail-biting race, Trump took the stage to celebrate his near victory in Florida. This came after he was expected to win the crucial battleground states of Pennsylvania, North Carolina and Georgia.
Later, the Associated Press (AP) projected Trump as the winner of Wisconsin.
According to the latter projections from the AP, Trump had 277 electoral college votes, compared to 224 for his Democratic opponent, Kamala Harris. It took 270 to secure victory.
This is how Trump secured the Oval Office and became the POTUS.
Community responses
The election results drew enthusiastic responses from key figures in the cryptocurrency community.
Brian Armstrong, CEO of Coinbase, taken to X (formerly Twitter) to celebrate the election of more than 219 pro-crypto candidates to the US House and Senate, which he described as:
“America’s Most Pro-Crypto Congress Ever.”
He emphasized that voters across party lines have shown a strong desire for clear regulations on digital assets and expressed his desire to work with the new Congress to establish these guidelines.
Eleanor Terrett, a Fox Business journalist, also highlighted Trump’s influence on the crypto sector: to report
Source: Eleanor Terrett/X
Big wins for pro-trump whales
The crypto community wasn’t the only one rejoicing over Trump’s victory. His election victory has generated significant profits for investors who bet on him.
Facts from Lookonchain revealed impressive profits among major players: “Theo4” earned $20.4 million in profits, “Fredi9999” earned $15.6 million, and “zxgngl” earned $11 million.
Now all eyes are on how Trump’s pro-crypto administration and newly elected Congress will shape the future of digital assets in America.