Donald Trump takes credit for more than usd 1 lakh price of bitcoin

The crypto market has been boom since the Donald Trump’s victory in the President’s election last month in the US. Bitcoin, the biggest cryptocurrency in terms of market value, has crossed the level of one million dollars on Thursday and made a new high. Since Trump’s victory, the price of this most popular cryptocurrency has increased significantly.

Trump welcomed the investment in this cryptocurrency after Bitcoin crossed one million dollars. Trump has congratulated those who support the bitcoin in a post on his social media platform Truth. He wrote in this post, “Congratulations Bitcoiners. Welcome. We will make America great together.” Trump had announced the appointment of Paul Atkins, considered a supporter of Cryptocurrency, as the next chairman of the market regulator Securities and Exchange Commission (SEC). Earlier in SEC, Atkins has worked on the commissioner’s position.

The price of bitcoin is doubled in the current year. Since Trump’s victory, bitcoin has rose by about 45 percent. Bitcoin on Thursday set a new high level of over 1,03,000. Earlier next year, the agenda of the new government, which took charge of Trump in the US in the US, may include making policy for this segment. Institutional investors have also increased interest in this segment. Recently the software company Microstrategy has bought around 15,400 bitcoins for about $ 1.5 billion. This company has a big holding of bitcoin already.

Micostratezi has about 4,02,100 bitcoins. This is less than two percent of the total supply of 2.1 million tokens of this most popular cryptocurrency. Last week, Microstrateji bought around 15,400 bitcoins at an average price of $ 95,976. However, questions have also been raised about the strategy of investment in the company’s bitcoin. Micostrateji initially decided to invest in bitcoin as a hedge against inflation. During the election campaign, Trump indicated not to make strict regulations for cryptocurrency. There are a large number of investment in the Crypto market in the US. These investors are also expected to contribute to Trump’s victory.