Bitcoin rose after Trump's election victory on November 6th. It surpassed its all-time high of the mid-$73,000 range and reached $100,000 in December. In the previous issue, I said, "Assuming Trump wins, the price will begin to rise in earnest after the November election, and we expect it to reach $100,000 (15.5 million yen at 155 yen conversion) by the end of the year," and it has successfully achieved this.
The direct reasons why Trump's reelection led to the rise of Bitcoin are the dismissal of SEC Chairman Gensler and the strategic holding of Bitcoin reserves. In addition, the macro policy of inducing low interest rates, low taxes, and a weak dollar to bring manufacturing back to the United States was judged to be favorable for Bitcoin in every respect. As a result, while the Trump rally in the stock and foreign exchange markets subsided in about a week, Bitcoin continued to reach new all-time highs even in December, and although both the USD/JPY and the S&P 500 have only risen by just over 2% since the voting day on November 5th, Bitcoin has risen by nearly 50% (as of December 19, 2024).
There are two reasons why Bitcoin has outperformed other assets since the presidential election.
