Bitcoin and Tesla Stocks Surge as Trump Declares Victory in US Presidential Race
Elon Musk's company, Tesla, also saw its stock value rise in response to Trump announcement.
Former President Donald Trump has claimed victory in the U.S.
Bitcoin Hits Record High as Trump’s Victory Boosts Investor Confidence
Bitcoin surged to a new record high following Trump’s declared victory, with investor optimism pushing the cryptocurrency up by 7% to over $75,000.
At the time of this report, Bitcoin was trading at $72,897, reflecting increased confidence in the Republican-led economic outlook.
The anticipation of a Trump administration appears to have bolstered the world’s largest cryptocurrency, as investors foresee favorable conditions under Republican policies.
Tesla Stock Jumps Amidst Election Excitement
Elon Musk’s company, Tesla, also saw its stock value rise in response to Trump’s announcement.
Tesla shares closed at $251.44 on November 5, marking a modest 3.5% increase, while after-hours trading drove the price to $259.
Musk, a prominent Trump supporter, may play a significant role in the administration’s policy formation if Trump’s victory is solidified.
Musk has expressed strong backing for Trump, likely aiming to influence policies benefiting the tech and electric vehicle sectors.
Global Markets React as Trump Inches Toward Victory
The impact of Trump’s presumed re-election extends beyond U.S. markets.
Asian markets surged in response to the Republican candidate’s anticipated win.
Trump Declares Victory in Palm Beach
In a celebratory address to supporters in West Palm Beach, Trump expressed gratitude for his re-election and promised to usher in a “golden age” for America.
“I want to thank the American people for this extraordinary honor,” Trump declared. “Every single day, I will be fighting for you, for your family, and your future. This will truly be the golden age of America,” he added.
Elon Musk Celebrates on Social Media
“Elon Musk shared his excitement about Trump’s victory on X (formerly Twitter), stating, ‘The people of America gave @realDonaldTrump a crystal-clear mandate for change tonight.’
Indeed, his message underscored the significance of the electoral outcome.”
International Congratulations Begin
As of this report, Trump holds 267 electoral votes, while Harris trails with 224; consequently, he needs only three more to secure the 270 required for victory.
Key swing states like Pennsylvania have played a significant role in tipping the scales in Trump’s favor.
NATO Secretary-General Mark Rutte, Indian Prime Minister Narendra Modi, and British Prime Minister Keir Starmer are among the first global leaders to congratulate Trump.
Many express optimism for the continuity of the US’s international alliances and strategic relationships under Trump’s leadership.
Internet-famous pygmy hippo Moo Deng playfully “predicted” Trump’s victory, which fans took as a good-luck charm ahead of the election.
Trump’s imminent victory is expected to bring significant developments to the global economy and international relations.