Bitcoin has by no means been extra useful. Final week, it reached a report $100,000 (£79,000) per bitcoin – the climax of a surge in cryptocurrencies general because the election of Donald Trump in November.
As Guardian US tech editor, Blake Montgomery, explains to Michael Safi, the connection between Trump and crypto has not all the time been so easy – as not too long ago as his first presidential time period, he known as bitcoin a “rip-off in opposition to the greenback”.
However the election marketing campaign noticed an embrace between the 2. In the summertime Trump grew to become the primary former or sitting president to deal with a bitcoin convention, asserting he wished the US to turn into the “crypto capital of the planet”. In flip, many crypto traders – disproportionately younger males – are fervent Trump supporters.
As well as, the crypto trade poured over $130m (£102m) into congressional and senate races, backing largely Republican and anti-regulation candidates.
All of it, finally, has resulted in historic highs for cryptocurrencies within the final month, in expectation of essentially the most crypto-friendly administration to enter the White Home in January.
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