Bitcoin is soaring on optimism that President-elect Trump will follow through on his promise to support Bitcoin and the crypto industry at large. Republicans have won control of the Senate, with the House still up for grabs. And as the future balance of power comes into focus, Wyoming Republican Senator Cynthia Lummis is promising the US will hold BTC as a strategic reserve asset.

On the campaign trail, Trump promised that under his administration, the US would stop selling seized Bitcoin on the open market, and instead strategically hold the asset as an investment. The President-elect also promised to fire U.S. Securities and Exchange Commission Chair Gary Gensler, end policies that prevent crypto investors and companies from using digital assets and support people’s right to hold crypto assets in their own wallets. Bitcoin’s price has touched a new all-time high of $75,883, and is now at $75,758 at time of publishing.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X, Facebook and Telegram Surf The Daily Hodl Mix

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/80’s Child