Wia dis foto come from, Getty Images
- Author, Peter Hoskins
- Role, Business reporter
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Di price of bitcoin don rise above $80,000 (£62,000) for di first time ever, after Donald Trump victory for di US election last week.
E come as di Republicans dey closer to overall control of Congress after dem secure di presidency and a majority for di Senate.
On di campaign trail, di president-elect pledge to make US “di crypto capital of di planet”.
Di value of di world biggest cryptocurrency now don rise by more dan 80% dis year.
Other cryptocurrencies, including dogecoin – wey don dey promoted by high-profile Trump supporter Elon Musk – dey also make gains.
In di run-up to di election, Trump say e go create a strategic bitcoin stockpile and appoint digital asset-friendly financial regulators – e bring on expectations say e go pull back regulations on di crypto industry.
Trump don say one of im first actions as president go be to sack di current chair of di Securities and Exchange Commission (SEC), Gary Gensler.
Mr Gensler, wey Joe Biden appoint for 2021, do lead di SEC crackdown on di crypto industry.
“If Trump administration no deregulate crypto, e dey hard to see how e no dey bullish for di sector,” Matt Simpson, market analyst for StoneX Financial tell BBC, adding say such a move fit lead bitcoin prices to jump to as high as $100,000.
But “it e still dey vulnerable to bad selloffs along the way – wey fit dey less kind to smaller pockets,” e add.
Trump broader agenda, wey include cutting taxes and reducing regulations on businesses, don also driven increase in oda investments since e win di election.
With Republicans in control of di executive and potentially both di legislative branches of di government, dem go dey able to advance im ideas through each chamber and send those bills for am to sign into law.