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Bitcoin Boosted by Safe-Haven Demand After Trump Victory (cnbc.com)

Posted by msmash on from the aftermath dept.

Donald Trump's historic victory in the U.S. presidential elections has pushed up prices for the digital currency bitcoin. As the results for the election began to trickle in, the cryptocurrency quickly began to rise at around 2 a.m. London time. From a report on CNBC: The price for bitcoin was around 3.5 percent higher at 11:00 a.m. London time Wednesday at $733.84. Since November 4, the cryptocurrency has been stuck around the $700-709 trading band. The weakening dollar may have added to the rise, but the digital currency is also higher when priced in other currencies like the Chinese yuan, sterling and the euro. Charles Hayter, CEO and founder of Crypto Compare, said that the price is rising on safe-haven demand in reaction to the uncertainty created as a result of Trump's victory.

1 of 45 comments (clear)

  1. Long time bitcoin user by Anonymous Coward · · Score: 2, Insightful

    ... and this is not a big deal. 3% change is a joke. This title should be more like, "bitcoin stays stable amidst tumultuous election."

    Now, if gold or crude spiked, that would be interesting, because someone like trump is unlikely to support laws that severely impact the wealthy.