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Donald Trump won the presidency / Dollar and Bitcoin rise

2024-11-06 13:41:00, Kosova & Bota CNA

Donald Trump won the presidency / Dollar and Bitcoin rise

The US dollar has risen after Donald Trump won the presidency and will re-enter the White House.

Bitcoin has also hit a record high as traders clamored for possible tax cuts, tariff hikes and rising inflation under Trump's second term.

This election result will have a major impact on the global economy. The Republican Party is also set to take control of the Senate, although there are still votes to be counted.

The dollar rose about 1.5% against a range of currencies, including the pound, the euro and the Japanese yen. Major US stock indexes also look set to open sharply higher.

Why is Bitcoin rising?

Trump has vowed to make the US "the bitcoin and cryptocurrency capital of the world."

The value of Bitcoin has also increased by $6,000 (£4,645) to a record high of $75,371.69, surpassing the previous level of $73,797.98 seen in March this year.

Trump has previously said he plans to put billionaire Elon Musk in charge of an audit of government waste. Musk has long been a proponent of cryptocurrencies, and his company Tesla famously invested $1.5 billion in Bitcoin./ CNA





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