.png)
.jpeg)
Bitcoin's remarkable 37% rise in just one month has fueled optimism, particularly as the cryptocurrency becomes less volatile. This stability is attributed to the growing involvement of institutional investors, who tend to make more research-driven, long-term investments in Bitcoin. Bobby Zagotta, CEO of Bitstamp U.S., explained that institutional positions often have a longer time horizon, contributing to the market's relative calm.
Trump’s influence in the crypto market has also contributed to this surge. Since his election win, there has been increasing optimism that his return to the White House in January will bring greater legitimacy to digital assets like Bitcoin. During his campaign, Trump even pledged to establish a national Bitcoin reserve and accepted donations in various cryptocurrencies, including Bitcoin, Ether, Dogecoin, and Solana.
In a strategic move to further his influence in the industry, Trump launched a cryptocurrency venture called World Liberty Financial in September, in partnership with long-time business associates. The venture is seen as a step to capitalize on his rising role in the digital asset space.
Trump's connection to the crypto world is set to deepen further. The Financial Times reported that Trump Media, the company behind Trump’s social media platform Truth Social, is nearing a deal to acquire Bakkt, a cryptocurrency trading platform established by Intercontinental Exchange (ICE). ICE holds a 55% stake in Bakkt, which has a market cap of $398.74 million, and is the parent company of the New York Stock Exchange.
Despite Trump Media’s reported financial struggles, including a loss of $19.2 million in the third quarter, with revenue falling by 5.6%, his growing involvement in the cryptocurrency sector could have a significant impact on the industry in the coming months.
.jpeg)
