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Bitcoin Bounces, Futures Flounder as Trump Nears Presidential Upset
Bitcoin prices are rising as Donald Trump is poised for a potential win in the US presidential election.
By Stan Higgins
Updated Sep 14, 2021, 1:58 p.m. Published Nov 9, 2016, 5:39 a.m.
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Bitcoin prices have steadily risen since the counting of votes in the US presidential race began, climbing more than 3 percent as Republican Donald Trump appears close to pulling off an electoral upset.
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The price of bitcoin is hovering around $737 after rising from a low of $709 when polls in the Eastern US began to close, according to the CoinDesk USD Bitcoin Price Index. CNY markets are up 2.4%, reaching ¥4,959.11 at press time.
Polls prior to the vote on Tuesday pointed to a likely win for Democrat Hillary Clinton. But with the results rolling in, Trump's chances for success have grown. Right now, the election could still swing either way, ultimately depending on the outcomes in a handful of districts in US states like New Hampshire, Pennsylvania and Michigan.
At press time, Trump has 244 votes in the Electoral College to Clinton's 215, according to CBS, and The New York Times is forecasting a Trump win.
US stock futures have reacted negatively to Trump's possible victory, suggesting rough waters ahead when markets open later today. The Dow is down roughly 3.8% or 705 points in pre-market trading, according to CNN. S&P and Nasdaq futures are each down close to 5%.
Image Credit: Andrew Cline / Shutterstock.com
This article has been updated.
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Michael Saylor's Strategy purchased $168 million in bitcoin last week
The company's stack is now 717,131 bitcoin acquired for $54.52 billion, or $76,027 per coin. Bitcoin's current price is $68,000.
What to know:
- Strategy (MSTR) added 2,486 bitcoin for $168.4 million in the last week.
- The company's holdings now foot to 717,131 BTC acquired for $54.52 billion, or $76,027 per coin — substantially below the current price of $68,000.
- Last week's buys were funded via common stock sales and the sale of the STRC preferred series.
