It was the night of highs for cryptocurrencies. Between Tuesday, November 5 and Wednesday, November 6, the value of bitcoin reached its highest historical level, exceeding $75,000 (70,000 euros) for the first time. Ether, the second important crypto asset, also saw its value increase, approaching $2,600, as did “meme currencies”, parodies of digital currencies such as dogecoin, promoted by Elon Musk, a fervent supporter of the Republican candidate.
These increases reflect the sector’s confidence in the results of the American elections. Firstly, because the Senate has leaned towards the Republican side: Democrat Sherrod Brown, who was in favor of greater supervision of crypto assets, is replaced by Bernie Moreno, a 57-year-old former car dealer who is now a entrepreneur on the blockchain. Some $40 million in cryptocurrencies were also invested to defeat Brown, reports the American channel CNBC.
Added to this, of course, is the return of Donald Trump to the White House. “We are on the threshold of a new American renaissance”For example, Tyler Winklevoss reacted on the social network The two founders of the Gemini cryptocurrency exchange platform are among the Silicon Valley personalities who financially supported the Republican candidate.
Mosaic of pro-crypto measures
If the world of cryptoassets is excited about the idea of a new mandate for the former real estate magnate, it is in particular because the latter has not stopped giving it an advantage since May. Originally a virulent critic of bitcoin, the Republican has done a 180-degree turn and is now seen as the champion of crypto assets. “The United States will be the crypto capital of the planet”He assured, on July 27, on stage at the Bitcoin Conference, organized in Nashville (Tennessee), before a cheering crowd.
Among the measures that the billionaire intends to take once re-elected: the abandonment of any digital dollar project, the dismissal of Gary Gensler (president of the American financial markets authority, known for his strict stances towards the sector), the creation of a strategic reserve of bitcoins by the American government… But also, what is more surprising, guaranteeing that the “mining” – that is, the creation on the network – of bitcoins is carried out only on American soil. This last idea generated perplexity, since the mining process is by nature decentralized, and left a certain number of observers wondering about the former president’s real understanding of how cryptoassets work.
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