Bloomberg reported on the 7th that as interest in cryptocurrency surged following Donald Trump’s victory in the U.S. presidential election, cryptocurrency trading company Galaxy Digital recorded its biggest trading day of the year on November 5.
“(O)ur franchises were fully operational, with trading, lending and derivatives desks with counterparties in the U.S. and abroad,” Galaxy CEO Michael Novogratz told Bloomberg.
“It really felt like a validation of everything we’ve been working towards,” Novogratz said.
Novogratz’s net worth rose about 15%, or about $600 million, to $4.6 billion as of Nov. 5, according to the Bloomberg Billionaires Index.
Mike Novogratz’s Net Worth. Source: Bloomberg
relevant: Impact of 2024 US Election on Cryptocurrency Market: Report
Cointelegraph Research reported that the cryptocurrency market soared after President Trump’s victory in the US presidential election. This is because many people believe that his victory will have a huge impact on the industry.
Bitcoin (BTC) rose to a high of $76,500 the day after the election on November 6 as traders rode a wave of broader market optimism.
Bloomberg ETF analyst Eric Balchunas wrote in a post to
Meanwhile, the price of Ethereum (ETH) soared 10%, and the U.S. spot Ethereum exchange-traded fund (ETF) saw a net inflow of $52.3 million, the highest in six weeks.
U.S. cryptocurrency stocks also showed a huge double-digit rise after Trump’s landslide victory.
Bitcoin’s nearly eight-month “re-accumulation” since its all-time high in March could now spark a violent rally, Rekt Capital suggests.
“Again, the rule is that once the weekly candle closes above $71,500, a breakout in the redeposit range begins,” Rekt Capital said.
“I have never publicly supported Donald Trump for president,” Novogratz told Bloomberg. “It was actually on the other side. “But I have always been a cryptocurrency advocate, and I thought let’s do our best to achieve a bipartisan agreement.”
magazine: Saylor is among the fake Trump news, Kraken restructuring, and more. Hodler’s Digest, October 27-November. 2