Bitcoin Magazine: Bitcoin’s Time Has Come With The U.S. Election Results

Last week’s election a positive for bitcoin. That’s because Donald Trump came out in favor of American leadership in bitcoin. That includes respecting the right to mine bitcoin, and hold it privately in a digital wallet.

Those measures have been opposed by regulators over the past few years. More importantly, over 200 pro-cryptocurrency candidates won elections last week. That increases the chances that bitcoin will have favorable political conditions over the next two years.

These measures have already helped bitcoin break to new highs, with the cryptocurrency breaking $80,000 for the first time last week. From $80,000, bitcoin rallied to over $89,000 before pulling back.

But there could be more gains to come. Proposals are being made to turn bitcoin into a strategic reserve.

Currently, the United States owns a significant amount of bitcoin, largely through its seizure in the use of crime. By holding that bitcoin rather than selling it off, it could create a massive asset in the years ahead.

With investor interest on the rise again and with bitcoin making new all-time highs, bitcoin’s trend is higher. And if other nation-states start to accumulate bitcoin also, the asset could see significant returns in the years ahead. The time for individual investors to acquire a meaningful stake may be passing.

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