Will Bitcoin be saved by Donald Trump?
According to Bernstein, a $725 billion asset management firm, Bitcoin could soar to $90,000 if Donald Trump wins the 2024 U.S. presidential election. The report emphasizes that Trump’s return to the White House could drive Bitcoin to this new high. Throughout his reelection campaign, Trump has embraced cryptocurrencies more than any previous candidate, proposing that Bitcoin become a key strategic reserve asset. He has also expressed a desire to make the U.S. the global leader in cryptocurrency.
This marks a dramatic shift from Trump’s earlier views. Five years ago, he criticized Bitcoin on X (formerly Twitter), describing it as “not money” and criticizing its value as speculative and volatile. Now, however, cryptocurrencies are central to his campaign strategy.
Bernstein’s analysis predicts that Bitcoin might hit between $80,000 and $90,000, surpassing its recent all-time high of $73,000 reached in March 2024. Despite this optimistic projection, Bitcoin has struggled recently, falling more than 8.7% over the past month and experiencing a 6% decline in the last week, with its current price trading below $55,000.
