Bitcoin surged $30 to test earlier highs following the announcement that Donald Trump had become president of the United States early this morning.
Also read: Trump Vs Clinton: Bitcoin Illiteracy in 2016 Presidential Election
Trump Pumped, Bitcoin Bumped, Markets Dumped
In what is being regarded as one of the most unlikely political victories, Trump’s win is piling pressure on the dollar and has sent financial markets tumbling – aiding Bitcoin in the process.
Reactions are already coming in the form of USD shunning, with Quartz quoting professional poker player Shannon Shorr:
Want bitcoin. Have USD.
— Shannon Shorr (@ShannonShorr) November 9, 2016
While the Clinton campaign chairman John Podesta buoyantly reminded his camp that “they are still counting votes,” Trump has already secured more than the 270 electoral college seats needed to win.
The election result not only means short-term financial upset. The widely-held belief the Federal Reserve would