Digital Gold

Bitcoin has shot to the moon (AKA nearly $90,000).

The blockchain buck has seen a 30% gain since Election Day (see chart), with investors optimistic that the Trump administration will be friendly towards cryptocurrency. Miners—those who verify and add transactions to the blockchain (like a public ledger)—are betting on Trump’s campaign promise to stockpile bitcoin nationally and make the U.S. “the crypto capital of the planet.”

Elon Musk-backed dogecoin (another cryptocurrency) rocketed 36% in the last 24 hours, riding the wave of Musk’s anticipated Pennsylvania Avenue influence. Tesla is also up 40% since the election. 

In other crypto news, the estate of defunct crypto exchange FTX is attempting to claw back $1.8 billion from its rival Binance over a “fraudulent” share repurchase in 2021; Binance has rejected the “meritless” claim.

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Verse to consider whether your assets are rocketing to the moon or rolling around in the dust… “Instruct those who are rich in the present age not to be arrogant or to set their hope on the uncertainty of wealth, but on God, who richly provides us with all things to enjoy.” 
1 Timothy 6:17 (CSB) (read full passage)