Matrixport: BTC penetration rate is close to 8%, Trump's support may push BTC price above $100,000
On November 7th, according to the weekly report from Matrixport, the popularity of Bitcoin is close to the critical threshold of 8%, which may be boosted by Trump's support and push the price to break through.
The report shows that about 7.51% of the global population (617 million people) use cryptocurrency, approaching a popularity rate of 8%. Reaching this threshold may mark a turning point for Bitcoin towards mainstream applications.
In addition, Trump promised to include Bitcoin in the national financial reserve, support Bitcoin mining, and plan to establish a cryptocurrency advisory committee at the 2024 Bitcoin conference.
At the same time, a senator from Wyoming proposed the "2024 Bitcoin Act" aimed at establishing a strategic Bitcoin reserve and purchasing 1 million Bitcoins within five years.
The report predicts that in this supportive environment, Bitcoin may reach $100,000 in the next few months.
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What's next for the crypto industry following Donald Trump's election victory?
With Donald Trump securing victory in the U.S. presidential election and the prospect of a Republican-controlled House and Senate, speculation has begun on what’s next for the crypto industry ahead of his Jan. 20 inauguration.The crypto community wants to see Trump’s campaign promises — including appointing a crypto-friendly SEC Chair, commuting the sentence of Ross Ulbricht, and creating a national strategic bitcoin reserve — fulfilled.
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