Bitcoin has started to climb overnight and is trading around $70,000 at the time of writing, marking a 3.36% gain on the boards and putting the bulls back in control early Monday morning.
Why is the Bitcoin price rising?
The big question is of course why the Bitcoin price is rising so much today. The answer may lie with Donald Trump, who announced a Bitcoin Strategic Reserve for the United States this past weekend.
In any case, the 200,000 Bitcoin that America seized in the past will not be sold under Donald Trump. That is a promise Trump made during the largest Bitcoin conference in the world in the United States.
“You do not sell your Bitcoin,” Trump said before making the big announcement on stage in Nashville.
It seems that with Trump we have a potential president who at least pretends that Bitcoin is an important issue for him. That makes sense, because you can win more and more votes with it these days.
What are the chances of Trump winning?
At the moment, according to the betting markets a 54.6% chance that Donald Trump will win the election. Joe Biden recently withdrew of course and Kamala Harris came in.
She has a 39.2% chance of winning the election. That leaves a fair spread between the two chances of winning, but of course Harris has only just started her campaign.
When Harris entered the race, the gap was still 43 percentage points. She had an 18.2% chance, while Trump would have had a 61% chance at the time.
In that respect, it will be an exciting race for us as Bitcoiners, because the Democrats are not known for having a high opinion of the industry. In that respect, as a Bitcoiner – if you are a single issue voter – you have to put your hopes completely on Donald Trump.
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Source: https://newsbit.nl/bitcoin-schiet-35-omhoog-naar-bijna-70-000/
