Trump's return has Bitcoin dancing along.
In November, Bitcoin continuously reached new all-time highs, currently standing at $94,000. Why is Bitcoin rising? Is Bitcoin the gold of our era? The Trump administration was friendly towards Bitcoin, but this is only a short-term factor in its rise. In the long run, Bitcoin is expected to gradually prove its value in history.
Currency is money, but not all money is equal; there exists a hierarchy or sequence. According to the model by scholar Benjamin J. Cohen, the world of currency is a vast pyramid: the closer to the narrow top, the stronger the currency that firmly holds the dominant position, while the lower part broadens with various secondary currencies rising and falling, reflecting the comparative advantages and disadvantages of different levels of currency competition.