Cryptocurrency Bitcoin vs Dollar: Bitcoin reached a record high above $109,000 on Monday. This is a big message. Donald Trump is planning to deregulate cryptocurrencies and has launched his own “mime coin”. Bitcoin reached an all-time high of $109,241 before Trump was sworn in. However, then it dropped a bit and came to $107,000.
Donald Trump Oath Ceremony: Trump will take oath as the President of America for the second time on January 20 at 12 noon in America and at 10.30 pm on Monday night as per Indian time.
why is the dollar falling
The value of the world’s largest cryptocurrency has increased by nearly 60 percent since Trump won the presidential election in November. The cryptocurrency surpassed $100,000 for the first time in early December. This surge in cryptocurrencies came when Trump nominated cryptocurrency supporter Paul Atkins as the head of the US securities regulator. This strengthened the idea that the new President would deregulate this sector.
Earlier Trump was against cryptocurrency
However, it is not that Trump has been in favor of cryptocurrency from the beginning. He once even called it a “scam”, but in this election Trump changed his stance and became its supporter during his election campaign. When Bitcoin reached the historic $100,000 mark, Trump wrote on his Truth social platform: “Congratulations Bitcoiners!!! $100,000!!! Welcome!!! Together, we will make America great again!”
Over the weekend, Trump launched his own cryptocurrency and named it $TRUMP. Its rapid purchasing has started and its market capitalization has increased to several billion dollars. His wife Melania Trump has also released her own cryptocurrency $MELANIA.
what the experts are saying
“Trump’s policies are expected to be a double-edged sword. His pro-growth policies and deregulation are expected to benefit the US economy, but his tariff policies will almost certainly increase inflation,” Ipec Ozkardeskaya, senior analyst at Swissquote Bank, said on Monday. .”
Bitcoin was conceived in 2008 by a person or group writing under the name Satoshi Nakamoto. It was introduced as a way to break free from mainstream financial institutions by establishing a decentralized platform for transactions.
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