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Crypto mania

Over the weekend, Bitcoin reached 82,000 USD. On Election Day, it was trading at $64K. That’s a 28% gain in 5 days. Trump was considered pro crypto before the elections and his victory with his de-regulation agenda has been understood by many as a tailwind for bitcoin. The irony, however, is that bitcoin is an alternative system to Fiat, where the U.S. dollar dominates. It doesn’t have a traditional Monetary Policy and it’s not controlled by any country or group. Why is it going up? Perhaps because the new administration fiscal plan is seen as increasing the deficit, at least initially. Also because inflation levels around the world have not gone down, only the annual growth rates, as you can see in the chart below. Finally, because the new administration will be tougher on China, which may have to stimulate its economy much more than anticipated. All those items are negative for the fiat currency system.


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