Bitcoin Is Expected to Surge 165% Thanks to Donald Trump

Shares of Bitcoin have already surged 75% over the course of 2016.

Now, the digital currency could ramp up another 165% over the course of 2017 thanks to Donald Trump’s “spending binge,” Denmark-based Saxo Bank wrote in a report titled “Outrageous Predictions for 2017.” The bank says Bitcoin could hit over $2,100.

Bitcoin is currently trading at $763.80, according to Coinbase.

The bank predicts that Trump’s plan to increase infrastructure spending, alongside further rate hikes from the Federal Reserve, will cause the already surging dollar to “hit the moon.” The strong dollar will force emerging markets to seek an alternative currency.
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Matthew Olckers

Editor at Talan
Matthew's interests in innovation are in the financial services and education sectors. He joined the Talan Innovation team in September 2014, and focusses on the improvement of the user experience. Matthew is a Masters in Economics student at Paris 1: Panthéon-Sorbonne.

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