{"id":18405,"date":"2024-11-07T17:20:30","date_gmt":"2024-11-07T15:20:30","guid":{"rendered":"https:\/\/forklog.com\/en\/trumps-victory-boosts-wealth-of-crypto-billionaires\/"},"modified":"2024-11-07T17:20:30","modified_gmt":"2024-11-07T15:20:30","slug":"trumps-victory-boosts-wealth-of-crypto-billionaires","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/trumps-victory-boosts-wealth-of-crypto-billionaires\/","title":{"rendered":"Trump&#8217;s Victory Boosts Wealth of Crypto Billionaires"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>The wealth of Coinbase CEO Brian Armstrong increased by $2.6 billion due to a rise in the exchange&#8217;s shares following Donald Trump&#8217;s election victory.<\/li>\n<li>MicroStrategy founder Michael Saylor gained $600 million, while Changpeng Zhao&#8217;s wealth grew by $12 billion.<\/li>\n<li>DOGE surged by 40%, and Elon Musk&#8217;s fortune rose by $20 billion.<\/li>\n<li>The top 10 billionaires globally saw their wealth increase by a total of $64 billion.<\/li>\n<\/ul>\n<\/div>\n<p>The fortune of Coinbase CEO Brian Armstrong rose by $2.6 billion, reaching $11 billion, following Donald Trump&#8217;s victory in the U.S. presidential election, according to <a href=\"https:\/\/www.msn.com\/en-us\/money\/companies\/elon-musk-s-20-billion-net-worth-jump-leads-billionaire-surge-after-trump-s-win-fortunes-of-bezos-buffett-and-more-swell\/ar-AA1tDF2U\">Forbes<\/a>.<\/p>\n<p>This was driven by a sharp 31% increase in the exchange&#8217;s shares.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXd56w2qGmzNaGqObx36vNuliHnP4BiXeANZdry10EA33Rqgx-NAfqG9kEBp-Ducbji5It1X6GQ0PPxom6AhbISOtRGt4LR1OOFPnWe9PD8awbBa-xmWGB2NdFv7VSTENygUnfcZ?key=y13UTkF_RzXWFJ4YrW7WOB6Y\" alt=\"Trump's Victory Boosts Wealth of Crypto Billionaires\"\/><figcaption class=\"wp-element-caption\">Daily chart of COIN on the Nasdaq exchange. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-COIN\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>MicroStrategy founder Michael Saylor became $600 million richer, with his net worth rising to $6.6 billion following a 13% increase in the company&#8217;s shares.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXfKzKpoMY6xG3JVm-S3G-CJboAdDdx6jXerW-V3u-3mqBabsPOrwAmtK62sQRNnAbYTzk2lI6mSAobs-7y5KpJsVKQgJJ2SKnOo1niAJ4719_akepCkt15HaA7n0GXtE0kr7iw_?key=y13UTkF_RzXWFJ4YrW7WOB6Y\" alt=\"Trump's Victory Boosts Wealth of Crypto Billionaires\"\/><figcaption class=\"wp-element-caption\">Daily chart of MSTR on the Nasdaq exchange. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-MSTR\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The wealth of former Binance head Changpeng Zhao <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-07\/-the-king-is-back-binance-billionaire-cz-plots-life-after-prison?embedded-checkout=true\">increased<\/a> by $12 billion.<\/p>\n<p>Overall, the U.S. stock market grew by $1.28 trillion, while the cryptocurrency market expanded by $200 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: ?? Over $1.28 trillion added to the US stock market today. <a href=\"https:\/\/t.co\/RmgzcSdDTk\">pic.twitter.com\/RmgzcSdDTk<\/a><\/p>\n<p>\u2014 Watcher.Guru (@WatcherGuru) <a href=\"https:\/\/twitter.com\/WatcherGuru\/status\/1854269275843731907?ref_src=twsrc%5Etfw\">November 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\"><strong>DOGE and Musk Benefit from Trump&#8217;s Victory<\/strong><\/h2>\n<p>Dogecoin (DOGE) surged by over 40% amid the U.S. elections, before slightly correcting.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXfCMzHvcyB689G9WTVKbVoGzeL0idjyMKp1pom92bFUD-Sj_PgiB6QF9DiimkJnFDqn5rVD6IfQTrIAuDh1pe5RX76sno1Xa3VE-5K_osTGRdEYoaBX3Erc-YdC03Y5JMr6cZ4-ig?key=y13UTkF_RzXWFJ4YrW7WOB6Y\" alt=\"Trump's Victory Boosts Wealth of Crypto Billionaires\"\/><figcaption class=\"wp-element-caption\">Daily chart of DOGE on the Binance exchange. Data: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3ADOGEUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The meme coin is supported by billionaire Elon Musk, whose fortune also increased by $20 billion (to $285.6 billion) following Trump&#8217;s victory. The primary catalyst was a 15% rise in Tesla shares.<\/p>\n<p>The entrepreneur supported the former and future president during the election campaign.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The whole squad <a href=\"https:\/\/t.co\/5yQVkFiney\">pic.twitter.com\/5yQVkFiney<\/a><\/p>\n<p>\u2014 Kai Trump (@KaiTrumpGolfs) <a href=\"https:\/\/twitter.com\/KaiTrumpGolfs\/status\/1854274706448199849?ref_src=twsrc%5Etfw\">November 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Trump <a href=\"https:\/\/edition.cnn.com\/2024\/09\/05\/politics\/trump-economic-plans-musk-government-commission\/index.html\">promised<\/a> to create a special commission on government efficiency led by Musk. The billionaire himself proposed this idea and agreed to head the agency&#8217;s work.<\/p>\n<p>The essence of the work involves conducting a full financial audit, checking federal government metrics, and recommending &#8220;radical reforms.&#8221; He emphasized that these are necessary steps because &#8220;things cannot continue as they are.&#8221;<\/p>\n<p>Political meme coins associated with Trump plummeted following his presidential victory.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdhSSxvnOx65OgJjvVrRY8eROVh4W823u5VcuJkCyzXGvW60Rr32MHak1WUtnP6Nt3EknyJot0f8ewDDAPRP1rh5SDVg2Njft_7bh4unS4nZs83IpFaK2yKD0Xdry-gKWg1VrejHQ?key=y13UTkF_RzXWFJ4YrW7WOB6Y\" alt=\"Trump's Victory Boosts Wealth of Crypto Billionaires\"\/><figcaption class=\"wp-element-caption\">The most capitalized &#8220;political&#8221; meme coins. Data: <a href=\"https:\/\/coinmarketcap.com\/ru\/view\/political-memes\/\">CoinMarketCap<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\"><strong>Other Billionaires<\/strong><\/h2>\n<p>The wealth of the world&#8217;s second-richest person, Jeff Bezos, increased by $7 billion (to $223.5 billion) due to a 3.8% rise in Amazon shares.<\/p>\n<p>The capital of the ten richest people <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-07\/trump-s-election-win-supercharges-net-worth-of-world-s-richest-by-64-billion?utm_medium=social&#038;utm_source=telegram&#038;utm_content=business&#038;embedded-checkout=true\">increased<\/a> by $64 billion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXef8c6I0EafQC5xlLYpGt0cPx8u3IydKc38NFgZnbWXWJGELtJ4R7kIvFacjmod1t2LeVXsGH_dWO-EkhjLIh6acrbPdEwvLzwglcvX2wvfhz93Q3VKhkJuEG3J2ZhQPNTq6Zbcpw?key=y13UTkF_RzXWFJ4YrW7WOB6Y\" alt=\"Trump's Victory Boosts Wealth of Crypto Billionaires\"\/><figcaption class=\"wp-element-caption\">Increase in wealth of the world&#8217;s ten richest people. Data: Bloomberg.<\/figcaption><\/figure>\n<p>Experts have predicted further growth in Bitcoin following Trump&#8217;s victory.<\/p>\n<p>In August, the Republican unveiled a plan aimed at strengthening the U.S.&#8217;s leadership in digital assets and making the country the <a href=\"https:\/\/forklog.com\/en\/news\/trump-vows-to-make-america-the-crypto-capital-of-the-world\">&#8220;crypto capital of the world&#8221;<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The wealth of Coinbase CEO Brian Armstrong increased by $2.6 billion due to a rise in the exchange&#8217;s shares following Donald Trump&#8217;s election victory. MicroStrategy founder Michael Saylor gained $600 million, while Changpeng Zhao&#8217;s wealth grew by $12 billion. DOGE surged by 40%, and Elon Musk&#8217;s fortune rose by $20 billion. The top 10 billionaires [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[991,1280,1217,1161,1150],"class_list":["post-18405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-donald-trump","tag-elections","tag-elon-musk","tag-memes","tag-news-plus"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18405"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18404"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}