TechFlow news, on November 6, U.S. foreign exchange analyst AlyceAndres said Bitcoin's surge of over 8% confirms it as the true leader of the "Trump trade." As bets on Trump winning the presidency increased, Bitcoin hit a new all-time high above $75,000. Republican Bernie Moreno's victory over Sherrod Brown in Ohio could push Bitcoin prices to even higher levels.
Brown has long been a critic of the industry, questioning its legitimacy. In contrast, after building a series of auto dealerships, Moreno founded a blockchain-based company that digitizes vehicle titles. Additionally, the political action committee Fairshake spent over $40 million lobbying during the final weeks of the 2024 U.S. election, adding to the $140 million it had already spent across dozens of congressional races. Fairshake aims to push bipartisan candidates to take cryptocurrency seriously.
