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Over the week since Trump's victory, Bitcoin has risen to new heights, nearing almost $90,000.00, and other digital currencies are rising right along with it. Chances are, these cryptocurrencies will continue to rise over the next few months.
So why is cryptocurrency surging? Money and business expert Derrick Kinney likened Bitcoin to a Lamborghini that's stuck in city traffic, and now President Trump is on his way to clear out that traffic. He told KTRH that investors are now expecting a "very positive, and friendly regulatory environment."
Kinney also says that we are seeing more widespread and mainstream acceptance of Bitcoin, leading to it becoming more accessible. He said, "Bigger investment names are now putting out products that allow hard-working Americans to invest in Bitcoin."
This will likely help add to Bitcoin's growth. Kinney believes that as we continue to see Bitcoin rise and become accessible to more people, it will become a bigger part of our daily lives over the next four years. We may even begin to see more businesses that accept Bitcoin and other cryptocurrencies as a form of payment.
Kinney did warn that despite all this positive news, that doesn't mean Bitcoin is without risks. He pointed out that cryptocurrencies have been known for their volatility, and it will likely be a while before they become as stable as other more traditional investment options.