Bitcoin is surging in Asian markets and has reached an all time high on Monday as optimism intensifies towards a Donald Trump victory in the U.S presidential election. According to reports by Reuters, the world’s biggest cryptocurrency rose 7% to $75,060, beating March’s record.
Investors see a Trump return to the Whites House ushering in a softer stance on crypto regulation as compared to Harris.
While it is still too early to call a victory in this election race, with Trump winning 15 states and Harris currently on 7, Asian investors are already pricing in a victory for Trump.
Matthew Dibb, chief investment officer at cryptocurrency asset manager Astronaut Capital, said markets expected a change in attitude at the U.S. Securities and Exchange Commission to remove a choke point for crypto innovation and speculation.
” A Democrat win would have felt like a short term nail in the coffin,” he said. “Probably not the case long term but the market is placing high importance on it.”
*This is a developing story and was first reported by Reuters
