Bitcoin SV has seen a 35% increase in the last week – What’s causing this surge?
Bitcoin SV BSV/USD has surged by 35% to $61.71 in the past week following Donald Trump’s victory in the 2024 presidential election and Bitcoin reaching a new record high.
This increase coincides with expectations of potential changes in U.S. economic policy under Trump’s leadership, such as corporate tax reductions, trade tariffs, and inflationary pressures. These factors could potentially benefit digital assets like Bitcoin SV.
Bitcoin SV, also known as Bitcoin Satoshi Vision, is a hard fork of Bitcoin that aims to uphold the original vision of Satoshi Nakamoto, emphasizing scalability and low transaction fees for enterprise-level applications.
Trump’s supportive stance on cryptocurrencies, including discussions about integrating Bitcoin into the U.S. national reserve, has sparked optimism in the digital asset market. With the possibility of inflation from proposed trade tariffs, investors are increasingly turning to cryptocurrencies like BSV as a hedge against economic uncertainties.
Explore more: Peter Schiff: US Bitcoin Reserve Could ‘Destroy Dollar,’ Predicts It’s ‘Highly Unlikely’ To Happen
Looking ahead, the role of Bitcoin as an institutional asset class will be thoroughly examined at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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