US President Elect Donald Trump Gives Some Indication of Some Big Decision for Crypto Market, Bitcoin, Ether

After Donald Trump’s victory in the presidential election in America last month, the crypto market has gained momentum. Bitcoin, the largest cryptocurrency in terms of market value, had made new highs. Trump began trading on the New York Stock Exchange (NYSE) on Thursday. The new government will take charge in America early next year. Trump has hinted at making a policy in favor of crypto.

Even during the election campaign, Trump had talked about not making strict regulations regarding crypto. He told traders at the NYSE that he wants crypto to be promoted in the US before other countries. Trump said, “We are going to do something big with crypto. We don’t want China or any other country to build the system for it. We want to lead it.” At the time of writing this report on Friday, the price of Bitcoin was down by about 0.60 percent and was trading at more than $ 1,00,300. The capitalization of the crypto market is around $3.60 trillion. Bitcoin’s share in this market is more than 50 percent.

The interest of institutional investors in this segment is also increasing. In the last few weeks, software company Microstrategy has increased its holding of Bitcoin. The company recently told the US Securities and Exchange Commission (SEC) in a filing that it had purchased approximately 21,550 bitcoins for approximately $2.1 billion between December 2 and 8. For this, an average price of $ 98,783 per bitcoin has been given. The company has sold shares worth more than two billion dollars for this purchase.

MicroStrategy’s executive chairman, Michael Saylor, said in a post on social media platform X that the company holds a total of 4,23,650 bitcoins. For this, the company’s average cost per bitcoin is approximately $60,324. However, another software company Microsoft has decided not to invest in Bitcoin. The company’s shareholders have voted against investing in Bitcoin. Recently, a proposal to assess investment in Bitcoin was presented to Microsoft shareholders. The company’s board had suggested the shareholders to vote against this proposal.