Donald Trump’s victory may have broken the hearts of millions of Americans this morning but jubilant crypto bros claim they are cashing in on the dismay.
A crypto enthusiast has alleged the industry raked in an eye-watering $100 billion in just 24 hours as the odds began to swing in Trump’s favour during the US election.
In an interview with MailOnline, Bitcoin investor Dan Held revealed that he believed Democrats were ‘anti-business’ and tried to actively avoid saying the word ‘crypto’.
But with Trump sitting at the helm of the oval office once more, Mr Held thinks the future looks far brighter for Cryptocurrency, estimating the value of Bitcoin ballooned by billions overnight.
Mr Held told MailOnline: ‘Trump in combination with Elon Musk, have signalled that they are going to do a large reform of these government agencies.
Bitcoin investor Dan Held estimates the Cryptocurrency industry made billions amid Donald Trump’s re-election into the White House
The crypto bro is looking forward to change with Trump (Pictured) back in the oval office, claiming Democrats were anti-crypto
‘Reform, as in likely firing the head of all of these agencies, cutting a massive amount of the staff of these regulatory agencies, and completely reformatting how these agencies work. This is why Bitcoin is trading up.’
According to the Bitcoin educator, Trump’s win has already had a huge impact on the value of Bitcoin, with those who invested in the currency having made roughly 100 billion dollars over the last day.
Bitcoin is a completely virtual currency, which can also be described as a cryptocurrency or digital currency.
The virtual cash can also be used to buy products and services, and can even be bought and sold via online payment services such as PayPal, according to the BBC.
The currency can also be divvied up into a smaller value known as satoshis, with 100,000,000 satoshis making up one singular Bitcoin.
However with the virtual currency reaching an all time high, the Bitcoin investor hopes it indicates change for the industry so he does not have to ‘worry about some government bureaucrat trying to harm’ his business.
Mr Held added: ‘Bitcoin broke its all time highs which means it’s never been higher than the price it’s at currently – so that was incredibly bullish.
‘Trump in combination with Elon Musk , have signalled that they are going to do a large reform of these government agencies,’ Mr Held told MailOnline
The value of bitcoin went up by around seven per cent in the last 24 hours, with Mr Held estimating investors made around $100 billion
!['They [The Democrats] are very have been very anti-business. They like central government control over everything,’ Mr Held (Pictured) said](https://i.dailymail.co.uk/1s/2024/11/06/19/91768625-14049721-image-a-4_1730920109695.jpg)
‘They [The Democrats] are very have been very anti-business. They like central government control over everything,’ Mr Held (Pictured) said
‘Anyone holding crypto assets or working at crypto companies definitely made money in the last 24 hours.
‘The value of all the Bitcoin in the world is $1.4 trillion. So it went up in the last 24 hours, which if you do some rough math – that’s close to $100 billion.’
‘Most of my net worth is in Bitcoin. So naturally that’s good for me.’
As of today, one BTC costs around £57,580.98 signalling a rise of 7.57% in the Cryptocurrency in the last day, according to Revolut.
Discussing the outcome of the election, the Cryptocurrency educator, who is in his mid 30s, was adamant that he was ‘ready for change’, accusing the Democrats of being ‘anti-crypto’.
‘In the US we’ve got the Republicans and the Democrats as our two primary political parties,’ he said.
‘The Democrats over the last few years have signalled that they are very anti-business and anti crypto.’
‘They are very have been very anti-business. They like central government control over everything.’
Donald Trump has pulled off a shocking political comeback and regained the White House as he’s declared the winner of the 2024 U.S. presidential election
He becomes the first president in over 130 years to win a non-consecutive second term. (Pictured: Donald, wife Melania and their son Barron on stage in West Palm Beach as Trump delivered his victory speech on Tuesday night)
The 78-year-old Trump will also become the oldest president ever inaugurated, beating President Joe Biden’s record by five months. (Pictured: Vice President-elect JD Vance on stage in West Palm Beach with Ivanka Trump and her husband Jared Kushner)
Trump’s victory brings an end to a tumultuous 2024 campaign – punctuated with Joe Biden’s dramatic withdrawal from the race in July, as well as two shocking attempts on Trump’s life (Trump is pictured after surviving an assassination attempt in Butler, Pennsylvania)
His defeat of Vice President Kamala Harris marks quite the return for a twice-impeached president
It comes as Donald Trump made a shocking political comeback and regained the White House after being declared the winner of the 2024 U.S. presidential election.
He becomes the first president in over 130 years – and only the second in history – to win a non-consecutive second term.
His defeat of Vice President Kamala Harris marks quite the return for a twice-impeached president, who left office in 2021 on the back of claims that he had incited an assault on the U.S. Capitol building, and who was convicted earlier this year on multiple counts of business fraud.
The 78-year-old Trump will also become the oldest president ever inaugurated, beating President Joe Biden’s record by five months.
