Here are the first consequences of the election of Donald Trump in the world of technology and finance. Donald Trump’s rise to supreme power across the Atlantic for the second time has immediate effects on the cryptocurrency market, Tesla shares, and the excellent performance of the American dollar.
For what ? Because American investors are already anticipating the implementation of an economic policy favorable to financial markets and especially cryptocurrencies. And all the more so since our man will likely have support from the United States Congress.
Consequently, very few counter-powers to temper its action. And this also has consequences for the semiconductor sector.
Bitcoin breaks all records
Firstly, Bitcoin is breaking all records. The anticipation of a less strict approach to regulating cryptocurrencies by the Trump administration is strongly stimulating the markets. As a result, Bitcoin crossed the $88,000 mark, a historic record.
And this has consequences for the entire ecosystem. The cryptocurrency exchange Coinbase, for example, jumped almost 20% on the stock market.
A real euphoria is therefore gripping the sector, with speculation on the possible creation of a national Bitcoin reserve in the United States.
Tesla soars
This electoral victory also gives wings to tech companies, like Tesla. It should also be noted that the company’s boss, Elon Musk, is a fervent ally of Donald Trump.
The automaker’s stock recorded a 9% gain at the start of the week, riding the market’s optimistic wave.
Investors are banking on a favorable economic situation which could even facilitate future energy reforms, including support for electric vehicles.
The US dollar is also climbing
Finally, the US dollar is also climbing, reaching its highest level in four months against a basket of currencies, including the euro.
And there it is very clear. This appreciation of the dollar is directly stimulated by Donald Trump’s promises to reduce taxes and increase customs duties.
Enough to make us Europeans fail, of course, but also risk a rise in inflation.
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