Trading with virtual currencies increased significantly after the US presidential election in Finland. Bitcoin, which reached a new record, has been the most traded.
Donald Trump, who won the US presidential election, accelerated the trading of virtual currencies in Finland. epa11696811
The cryptocurrency market was still in a waiting mode in September, but trading increased already in October, when US presidential candidate Donald Trump’s election victory began to look more likely. Trump’s victory raised the cryptocurrency market to a strong rise, Kvarn X, the cryptocurrency brokerage and storage service, says in a press release.
– It has been a historic rally in the cryptocurrency market, but it has not come as a surprise, as Donald Trump is known to have a very favorable attitude towards cryptocurrencies, Kvarn X’s investment director Joonas Järvinen tells.
After the US presidential election, bitcoin has been traded the most, the value of which has exceeded $90,000 for the first time, or about 85,000 euros. This week, Bitcoin reached around $98,000, approaching the expected $100,000 milestone.
According to data from Kvarn X, 40 percent of virtual currency transactions made by Finns were made with bitcoin in November. The virtual currency ether’s share of transactions is 11 percent, xrp’s nine percent and Solana’s eight percent.
According to a survey commissioned by the consulting company EY and the cryptocurrency research company K33 Research, there are 1.5 million cryptocurrency owners in the Nordic countries, of which approximately 300,000 are from Finland. According to the survey, more than one million Finns may own cryptocurrency in the next decade.