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⌐◪-◪ → The first Bitcoin President is here.

Donald Trump just won the election and will become the 47th President of the United States. The crypto markets are already loving the news, with Bitcoin establishing a new all-time high over $75k and crypto equities surging 10-12%.

Not only did Trump win the election, but he also won the popular vote, which Adam Cochran said was “statistically impossible” in a Twitter debate with Valko. Confirmation bias is one hell of a drug, eh?

While Trump’s win is undeniably bullish for crypto, the bigger win is the fact that we now have pro-crypto majorities in both the Senate and House — the most pro-crypto Congress in history.

Looking ahead, here’s a quick recap of Trump’s pro-crypto promises:

• Protect the right to self-custody

• Protect the right to Bitcoin mining

• Ban the creation of a CBDC

• End the war on crypto, fire Gensler

• Create a strategic Bitcoin "stockpile"

• Free Ross Ulbricht

The future of crypto in America has never looked brighter. Let’s not waste this opportunity — it’s time to get after it relentlessly, it’s time to unite.

⌐◪-◪ → New Bitcoin all-time high unlocked!

While the election was ripping, Bitcoin quietly hit a new all-time high of over $75,000. Feels bullish, but that edge play is killing me.

Zooming out, Bitcoin has now flipped Meta’s market cap — becoming the world’s 9th largest asset by market cap:

1. Gold → $17.9T
2. Nvidia → $3.5T
3. Apple → $3.4T
8. Silver → $1.75T
9. Bitcoin → $1.47T

If Bitcoin increases another 1.18x, it will overtake Silver. From there, it’s another 12.18x to overtake Gold — which would mean a Bitcoin price nearing $1M. Wild.

Meanwhile, ETH-to-BTC’s market cap ratio is down to 24.5%, the lowest since April 2021. It’ll be interesting to see how this cycle plays out and if Michigan’s State Pension Fund just made the smartest (or dumbest) decision buying more ETH than BTC.

Join Specs.Chat to see where the hive mind thinks we go from here.

⌐◪-◪ → Mainstream media is dead. Trust markets, not polls.

Last night’s biggest winner, besides Trump, Republicans, and the pro-crypto movement, was the prediction markets — especially Polymarket, the world’s largest.

After months of heavy criticism from the mainstream media, alleging market manipulation and fraud, Polymarket came out on top — calling the election hours before the mainstream media even declared a single swing state.

The CEO of Polymarket mentioned he got word from Trump HQ that they literally found out they were winning from Polymarket. As for the top winners/bettors:

• Theo4 won $20.4M

• Fredi9999 won $15.6M

• zxgng won $11M

I really can’t think of a better “I told you so” moment for Polymarket than last night. Pure vindication.

As I said in The Wall Street Journal, markets are the ultimate source of truth and incredibly hard to manipulate due to the massive financial incentive to correct the odds.

For a deeper analysis, check out Haseeb’s breakdown of Polymarket’s dominance in election forecasting and real-time tracking (note: he’s an investor).

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