Update from October 16th below. This post was originally published on October 16th

Bitcoin
Bitcoin
has suddenly shot up after skyrocketing in the new week due to an earthquake in China.

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Bitcoin price has risen from under $60,000 last week to $70,000 per bitcoin as MicroStrategy founder Michael Saylor reveals his massive “end goal” of $100 trillion.

Now, as Tesla billionaire Elon Musk warns that the US could fall into “bankruptcy,” the sale of a new cryptocurrency backed by former US President Donald Trump has sent Bitcoin price and the crypto market significantly higher Pushed higher – as Trump’s chances of taking back the White House next rise month-over-month.

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Forbes“Digitizing the Dollar” – BlackRock CEO reveals his radical plan for an AI-powered crypto that is expected to drive up the price of Bitcoin and EthereumFrom Billy Bambrough

“There are only three weeks left until the US election. If we can believe Polymarket, Trump now has a 56% chance of winning the presidency and the Republican majority is now at 39%,” Geoff Kendrick, head of crypto research at Standard Chartered Bank said in an emailed statement Notice that it refers to the odds on the crypto-based betting platform Polymarket.

“This means that in the conditional probability range, if Trump wins, there is a 70% chance of a Republican victory. Digital assets have finally started to move higher in this regard.”

Update from October 16th: Donald Trump has posted a video

In the video, which he called “big news,” Trump directed people to the website of his new crypto project World Liberty Finance, even though the site was struggling to stay online.

It was discovered that only $9 million worth of the new cryptocurrency was sold reported from CoindeskEstimates of sales of $300 million are clearly missing.

“Already a month after the presidential election, many in the crypto industry are skeptical about the timing and substance of Trump’s venture,” Lorenzo Valente, research fellow at bitcoin, crypto and technology investor Ark, said in emailed comments, adding that the platform had hired employees. Experienced crypto consultants had dampened the criticism somewhat.

Kendrick previously put his bitcoin price prediction at $125,000 per bitcoin if Trump retakes the White House, compared to $75,000 under Vice President and Democratic Party nominee Kamala Harris.

Trump’s adoption of Bitcoin and cryptocurrencies via his family’s cryptocurrency project World Liberty Financial and its non-fungible tokens (NFT).
APENFT
) collections, as well as his promises to ease crypto regulations, have pushed Harris toward a more crypto-friendly stance.

Earlier this year, at a Bitcoin conference, Trump promised to create a strategic Bitcoin reserve in the US if re-elected and predicted that the price of Bitcoin could eventually surpass the price of gold.

World Liberty Financial’s new WLFI cryptocurrency went on sale today, selling around 220 million tokens to more than 1,700 unique wallets within the first twenty minutes, as reported by Coindesk.

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ForbesDonald Trump’s “decisive” China nightmare suddenly comes trueFrom Billy Bambrough

Trump’s sons Don Jr. and Eric are heavily involved in the World Liberty Financial crypto project, while Trump himself is described as the “chief crypto advocate” and his son Barron as a “DeFi visionary.”

“Well over 100,000 people” have joined the so-called whitelist to participate in Trump-backed decentralized finance project World Liberty Financial’s WLFI cryptocurrency sale, according to co-founder Zachary Folkman.

The WLFI cryptocurrency, a governance coin designed to allow holders to vote on the direction of the project, was forecast to raise around $300 million at a valuation of $1.5 billion, although U.S.-based buyers must be “accredited investors.”

Folkman said on an X Spaces broadcast this week that World Liberty Financial will allow users to borrow and lend cryptocurrencies, create and interact with liquidity pools, and transact with stablecoins.