Samsung Asset Management: Trump's Victory is favorable for Bitcoin, believing it has the potential to rise even higher.

Samsung Asset Management (Hong Kong) investment strategist Zhong Jun believes that Trump's victory is favorable for Bitcoin, as this is the first time in US history that a political party and presidential candidate have openly expressed their views on holding Bitcoin. Bitcoin continues to rise, approaching $89,000 and hitting a new high. Bitcoin was reported at $88,780 during the Asian trading session, rising by 10% in the past 24 hours. Section 5 of the Republican Party platform in 2024 mentions Bitcoin and cryptocurrencies, stating "The Republican Party will end the Democratic Party's illegal and un-American crackdown on cryptocurrencies, uphold the right to mine Bitcoin, and ensure that every American has the self-custody rights to digital assets." Zhong Jun believes that as the Republican Party has a more open attitude towards the development of cryptocurrencies, and retirement funds in different states of the US have already allocated Bitcoin, and with global adoption of Bitcoin still in its early stages, most people have not yet taken the time to understand Bitcoin as an asset class, therefore, he believes that Bitcoin has the potential to rise even higher.