If U.S. President-elect Donald Trump continues to declare support for cryptocurrencies and specific actions in this direction, the value of bitcoin (#BTC☀ ) by the end of this year may reach $100 thousand, Capital Lab partner Evgeny Shatov told “Izvestia” on Monday, November 11.
Earlier in the day, the cost of $BTC
updated the historical maximum, exceeding $82 thousand.
Shatov explained that such growth of the rate was influenced by the results of the elections in the United States.
“Newly elected President Donald Trump is in favor of supporting digital assets, and the prospect of pro-cryptocurrency lawmakers in Congress also added positivity. The digital asset industry has spent more than $100 million to support a number of crypto-friendly candidates and the election victory of the candidate from the Republican Party was a positive signal for it,” he said.
The expert recalled that Trump promised during the election campaign to put the US at the center of the digital asset industry, including the creation of a strategic bitcoin reserve and the appointment of regulators supporting digital assets. Meanwhile, his broader program to stimulate domestic economic growth, lower taxes and cut red tape has sparked a buying boom in stocks, credit and has not ignored cryptocurrencies.
“Bitcoin is up about 94% since the start of 2024, fueled by robust demand for cryptocurrencies, the start of U.S. exchange-traded fund trading and the Federal Reserve's interest rate cuts. It is highly likely that bitcoin's rise could continue. If the newly elected president continues to make statements about support for cryptocurrencies and specific actions in this direction, which he is going to take after coming to power, the value of bitcoin by the end of the year may reach $100 thousand,” - concluded Shatov.
In September, the director of the Association of Industrial Mining Sergei Bezdelov at the session “Industrial Mining” of the Eastern Economic Forum said that in 2023, 54 thousand bitcoins were mined in Russia. They can bring the treasury taxes in the amount of 50 billion rubles on the horizon of several years.
