Bitcoin set a new record by surpassing US$81,000 (RM356,000) for the first time!
This sharp rise was driven by the official victory of Donald Trump in the 2024 United States (US) Presidential Election, along with his pro-crypto stance that shocked the world of digital assets.
In Congress, the presence of politicians who are interested in crypto is giving this movement great momentum.
Trump's victory in all seven 'swing' states has been a catalyst, greeted with cheers in the crypto world that raised over US$100 million to support the pro-crypto candidate.
This decision changed the landscape, with Bitcoin surging as much as 6.1% on Sunday and continuing to hit highs early Monday morning.
This increase did not only happen to Bitcoin but altcoins like Dogecoin also benefited, with the support of Elon Musk who is a staunch supporter of Trump.
Trump also promised to make the US a major digital hub, and even revealed the possibility of creating a strategic Bitcoin 'storage'.
Additionally, crypto exchange-traded funds (ETFs) such as BlackRock's iShares Bitcoin Trust are currently seeing the largest inflows in history, a testament to the influence of Trump's victory on the crypto boom.
In contrast to previous administrations that restricted crypto, Trump promised a more free and innovation-friendly economy, by reducing the bureaucratic barriers that have so far hampered the growth of the digital sector.
Under Trump's leadership, the crypto market is expected to grow further, bringing new hope for a more dynamic future of digital assets in the US without any restrictions.
