Bitcoin and new US president – level 2

Bitcoin and new US president

15-11-2024 07:00

The largest cryptocurrency, Bitcoin, recently reached a record high of over 81,000 dollars after Donald Trump won the US election.

This big jump happened because people expect new rules that may help digital money grow. Trump promised to make America a leader in crypto and add Bitcoin to national reserves. His ideas helped several other pro-crypto leaders win the election. The industry itself invested over 119 million dollars to support these candidates. Supporters believe Trump’s plan to change strict rules on crypto will cause more growth.

Elon Musk, a Trump supporter, also supports digital money, and Trump’s son, Eric, is going to speak at a Bitcoin event. Market analysts expect this ‘Trump pump’ to keep digital money popular.

Difficult words: cryptocurrency (digital or virtual money), national reserve (things or money which a country saves), invest (to put money into a project or company and hope to make more money from it).

You can watch the original video in the Level 3 section.

What are the expectations for the growth of digital money following Donald Trump's election win and his promises regarding cryptocurrency?

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