Following Donald Trump's election victory, Bitcoin's price has surged, reaching a record high of nearly $85,000 on Monday, with an intraday peak at $84,986.15. Since Election Day, Bitcoin has climbed over 10%, driven by a combination of FOMO and a short squeeze.
Petr Kozyakov, Co-founder and CEO of Mercuryo, a prominent payment infrastructure platform in the digital token space, highlights how innovations in crypto payments are motivating people to utilize their assets.
“The cryptocurrency market is engulfed by wave after wave of FOMO as bitcoin seemingly charts an inexorable path towards $100,000. While critics of the space will decry what they perceive as wild speculation, the evolution of the digital token economy will be powered forward as the space reaches a market capitalisation of $3.1 trillion.
“We’re also witnessing a philosophical shift among a new generation who trade crypto. Many of these buyers have a belief that life is short and the point is to spend their profits. The availability of sophisticated products enabling consumers to make purchases, anywhere; anytime, are being delivered by partnerships between traditional payment giants such as Mastercard and innovative platforms in the cryptocurrency space. The seamless off-ramping of digital tokens will fuel spending among a new generation of tech-savvy consumers who intuitively recognise the power of blockchain technology to change the world.”
