👉 Background: Bitcoin started in 2009 as a payment system, but has also a become a store of value, like “digital gold”. Since then, it has grown from a fringe group of users to nearly 1 in 5 Americans dabbling in cryptocurrency.

👉 What happened: Off the back of Donald Trump’s election win, the price of bitcoin has jumped by more than 10% to a record-high, worth over $76,0000 USD per bitcoin. That's a pretty steep jump from its price of around $1,000 USD in November 2016 when Trump was first elected.

👉 What else: As part of Trump’s re-election campaign, he spoke his plan to make the US the “crypto capital” of the world, as well as undoing a lot of regulatory pressure on the crypto industry.

What's the key learning?

💡When it comes to Bitcoin, political promises can send prices soaring or… crashing.

💡Get this: in the six months that followed the last three presidential elections, Bitcoin has had triple digit returns. But this time around, the bitcoin community are driven by some Trump's promises to:

• Make Bitcoin a reserve currency
• Fire the head of the Securities and Exchange Commission in the US who has put a lot of regulation around bitcoin
  
• Push through a crypto-friendly regulation (whatever that means)

💡But here's the thing: if he doesn’t deliver on these promises quickly, the Bitcoin euphoria could turn to disappointment. And, we know the price of bitcoin, ethereum and other alt-coins can be more unhinged than Donald Trump’s late night tweets!