Following Donald Trump’s 2024 election victory, Tesla and SpaceX CEO Elon Musk openly endorsed giving the president a more hands-on role in directing Federal Reserve policy. This is in line with a recent CNF update that highlighted how, after Trump’s victory, Bitcoin’s price surged by 9.6% to a record high of $75,198, while Ethereum followed with an increase of 8%.

As of now, Bitcoin (BTC) is trading at $86,370.71, having surged by 5.51% in the past day and 25.63% in the past week.