- Trump is declared the 47th US president.
- Crypto markets soared in response, with Bitcoin recording a new ATH.
- Bitcoin overtook Meta in the global asset rankings.
Donald Trump was declared the 47th president of the United States on Wednesday, a result his supporters hailed as a win for common sense and a fresh direction for the country. Throughout his campaign, Trump positioned himself as the “Crypto President,” promising to place the US at the heart of the global crypto revolution.
Crypto markets reacted quickly as news of his key swing-state victories spread. Bitcoin surged to a new all-time high, surpassing Meta to become the world’s tenth-largest asset by market cap.
Bitcoin Joins Top 10 Global Assets
Trump’s election win sent crypto markets soaring, with Bitcoin reaching a new all-time high of $75,400 on Wednesday morning (GMT), giving it a market cap of around $1.49 trillion at its peak.
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This surge marked a significant milestone for the digital asset, pushing Bitcoin past Meta in market valuation and securing its spot as the tenth largest asset globally, according to Infinite Market Cap.
Bitcoin’s valuation currently stands at approximately $1.472 trillion, positioning it $270 billion above Meta and underscoring its expanding influence within the global asset market. This milestone highlighted Bitcoin’s rising prominence as it competes with legacy giants.
Profit-taking caused a slight dip in price at the time of writing, but Bitcoin has retained most of its gains since Trump’s win became official. The leading cryptocurrency is holding steady around $73,700, a key Fibonacci support level, showing resilience amid a volatile post-election market.
What a Trump Win Might Mean For Crypto
Anthony Pompliano, founder of Professional Capital Management, commented to CNBC that Bitcoin’s all-time high reflects optimism over a pro-Bitcoin president assuming office.
When asked if Trump would deliver on campaign promises, like establishing a national Bitcoin reserve, Pompliano stated that such actions would likely spark a global response, as other countries would feel compelled to follow suit.
Amid the market euphoria, investor Scott Melker struck a cautionary note, arguing that there is little real difference between the main political parties. Both would continue to spend “like drunken Real Housewives,” ignoring the ever-growing $36 trillion national debt.
Melker further emphasized that “Bitcoin is the real winner of any election,” as its fixed supply makes it immune to inflation and monetary debasement, unlike the dollar.
On the Flipside
- Crypto market cap valuations are volatile and highly changeable.
- Despite its $1.472 trillion valuation, Bitcoin‘s market cap is still less than a tenth of gold’s.
- Bitcoin holders are estimated to comprise just 2.74% of the global population.
Why This Matters
Bitcoin’s ascent into the top 10 global assets signals a fundamental shift in how the mainstream perceives digital currencies.
Polymarket users bet big ahead of election results.
Polymarket Bettors Go All In Ahead of Trump-Harris Election
Crypto short sellers pay the price as Trump storms to victory.
Trump-Led Market Rally Wipes Out Crypto Bears Overnight
