Donald Trump is set to return to the White House, and by January, he plans to implement significant economic policies. These include imposing tariffs on all imports, lowering corporate tax rates, extending 2017 tax cuts, reducing regulations on cryptocurrencies and banks, eliminating taxes on tips and Social Security, and potentially abolishing income and payroll taxes.
In the financial markets, Bitcoin has surged past $93,000 with analysts predicting it may soon exceed $100,000. The cryptocurrency’s recent rise includes a notable increase of over 5% in just 24 hours. Additionally, MicroStrategy Inc., a major investment fund in Bitcoin, recently announced substantial purchases of the digital asset.
On another note in the tech sector, Super Micro Computer (SMCI) has hit a new low as it struggles with delays in filing its quarterly report due to difficulties in securing a new accounting firm for its financial statements for fiscal 2024.