Bitcoin nears all-time high as chances of Trump victory rise

Bitcoin has surged to a record high, topping $73,000 (approximately 11.2 million yen), as the chances of pro-cryptocurrency Republican presidential candidate Donald Trump winning have risen.
Bloomberg reported on the 29th (local time) that Bitcoin is a typical example of a "Trump trade" (an investment betting on Trump's election victory),
Bloomberg analyzed that Bitcoin rallied on this day as the possibility of Trump winning the election increased. Polls show that Trump and Democratic candidate Kamala Harris are in a very close race.
However, various prediction sites have made Trump's victory a confirmed fact, with PolyMarket, the world's largest cryptocurrency-based betting site, predicting that he will win at over 60%.
This is because Trump is proactive about cryptocurrencies. He has been more proactive in defending cryptocurrencies than his opponent, vowing to "make the United States the cryptocurrency capital of the world."
Tesla CEO Elon Musk, who actively supported Trump's election, is also a leading advocate of cryptocurrencies.
He would chair a committee that would lead the charge to cut government spending if Trump takes power.
He even named the committee after Dozico, the Department of Government Efficiency (DOGE).
Bloomberg analyzed that Musk's involvement in the Trump presidential campaign was a major help in lifting investment sentiment.
Meanwhile, as of 10:55 a.m. on the 30th, Bitcoin had surged 3.03% from 24 hours earlier, reaching $72,353 (approximately 11.09 million yen).
However, Bitcoin surged to $73,577 around 3 a.m. that day, near its all-time high of $73,750, which was reached on March 14.