Donald Trump is one more reason investors might want to take another look at Bitcoin.
A recent report from Juniper Research predicts that the transaction volume for Bitcoin will more than triple in 2016, due in part to the prospect of a turmoil-inducing Trump presidency. The U.K.-based market intelligence and analysis firm believes transactions of the cryptocurrency will reach $92 billion in 2016, up from less than $27 billion in 2015.
The price of Bitcoin has climbed more than 50% already this year, opening Friday priced at $659.64, according to the Coindesk price index. The price of the Bitcoin Investment Trust (GBTC) , which tracks Bitcoin, has soared by nearly 150% to $118.25.
The presumptive Republican nominee has pledged to get tough on trade with China and Mexico, renegotiating agreements, imposing tariffs and taking other aggressive actions towards the country. He has also said he would clamp down on remittances in an effort to force Mexico to pay for his wall at the border. Such a maneuver could push those needing to transfer money away from companies like Western Union (WU) and Moneygram (MGI) and instead toward Bitcoin.
Global events, including the U.K’s Brexit vote and the