Donald Trump’s election victory has thrown fuel on the tech and crypto-driven “Bro-economy” – and Britain’s bros are among those hoping to profit.

Bitcoin has been the most obvious beneficiary of the “Trump pump”, with the world’s most popular digital hitting an all-time high after surging almost 30% since last Tuesday’s election day to reach $88,600 (66 £100) today.

Crypto experts across the Atlantic have taken note, with a London-based research firm saying it’s “entirely possible” that Bitcoin could hit $100,000 (£78,000) here the inauguration of the president-elect in January.

“Brother-in-Chief” and prominent Trump supporter Elon Musk also benefited greatly from Mr. Trump’s victory and Tesla shares have risen more than 40% since Election Day, making climbing his net worth by around $54 billion (£42 billion).

Tesla was the most popular stock buy last week on Hargreaves Lansdown – the UK’s largest platform for private investors – and it’s one of the biggest holdings in the country’s largest investment fund, Scottish Mortgage.

The “Bro-economy” – including crypto and Elon Musk’s Tesla – is one of the main beneficiaries of Donald Trump’s election victory.

Appealing to the “Bro Vote” was a central platform of Mr. Trump’s re-election campaign and helped him attract a greater proportion of voters under 30 than any Republican candidate for office. presidential since 2008.

With his teenage son, Barron, serving as an unofficial advisor, the 78-year-old spoke with podcasters known for having large male audiences, including Joe Rogan and video game streamer Adin Ross.

He even launched his own cryptocurrency business, World Liberty Financial, while his campaign launched an “America First Collection” of NFTs costing $99 each.

Mr. Trump has not always been a fan of crypto and, during his first presidential term, described Bitcoin and other digital currencies as “highly volatile and vacuum-based.”

But egged on by true believers like Elon Musk, the Republican changed his tone on the campaign trail, attacking President Biden’s crackdown on crypto and promising a “strategic national stockpile of Bitcoin.”

His new enthusiasm has been of immense benefit to tech specialists around the world, including in the UK, even as financial experts warn that crypto is extremely volatile and could collapse at any time.

Nigel Green, UK director of investment firm deVere, called Mr Trump’s pro-crypto stance “the most significant tailwind we’ve seen for Bitcoin since its inception”.

Trump’s “brother-in-chief” and prominent supporter, Mr. Musk, also benefited greatly from his victory. They are seen together at a rally in Pennsylvania on October 5.

His resounding victory gave momentum to other major digital currencies, including Ethereum – up 39% since last week’s election – and Dogecoin, a wacky cryptocurrency promoted by Musk, which is now 98 % higher.

Flows into cryptocurrency exchange-traded funds (ETFs) have also increased since Trump’s election victory.

On Thursday, November 7, Bitcoin ETFs saw their largest inflows on record, with a net $1.38 billion (£1 billion), according to Citigroup.

“There were significant inflows across the board,” Citi analysts said in a note. “ETF inflows have been the primary driver of Bitcoin returns, and we expect this to continue in the near term.”

The rise has been so strong that the crypto sector is now estimated to be worth £2.2 trillion, more than the market capitalization of the entire FTSE 100, which stands at just over £2 trillion. pounds sterling.

Crypto enthusiasts are particularly excited about the president-elect’s promise to fire Gary Gensler, the head of the US financial watchdog who has led a years-long crackdown on the sector.

The morning after the election, crypto boss Cameron Winklevoss tweeted: “GM (hello) @GaryGensler – you’re fired! “.

JD Vance, Mr. Trump’s vice president, has owned Bitcoin since 2021, his financial disclosures show, with the most recent from August placing his stock at between $250,000 and $500,000.

Eric Trump, one of the president-elect’s sons and executive vice president of his private conglomerate, The Trump Organization, will be a keynote speaker at a Bitcoin conference in Abu Dhabi next month.

Mr. Trump’s vow to make the United States the “crypto capital of the planet” will be easier to achieve if Republicans take control of Congress as planned – cementing their victory in both chambers.

Eric Trump will be a keynote speaker at a Bitcoin conference in Abu Dhabi next month. He is seen with his wife, Lara, at a rally at Madison Square Garden on October 27.

“The Trump Bitcoin pump is alive and well… as Republicans are poised to take the House to confirm a red wave in Congress, it appears cryptocurrencies are betting on digital currency deregulation,” a said Matt Simpson, Senior Market Analyst. in the city index.

The cryptocurrency industry has spent more than $119 million (£92.8 million) supporting pro-crypto candidates for Congress, many of whom won their elections.

In Ohio, one of the crypto industry’s biggest enemies in Congress – Senate Banking Committee Chairman Sherrod Brown – was ousted, while pro-crypto candidates from both the Democratic and Republican parties were ousted. won in Michigan, West Virginia, Indiana, Alabama and North Carolina.

Crypto lobbyists’ biggest coup was persuading Mr Trump to deliver the keynote speech at the 2024 Bitcoin conference in Nashville, where he vowed to fire Mr Gensler on ‘day one’ – winning cheers from delegates who view him as a hate figure for his pursuit of crypto. companies for alleged violations of securities laws.

In a fierce defense of the industry that would have warmed the hearts of crypto brethren around the world, he said: “If we don’t adopt crypto and Bitcoin technology, China will do it, other countries will do it, they will will dominate, and we cannot. let China dominate.

And promising a brighter future, he told the crypto world to “never sell your Bitcoin” – advice many appear to be heeding.