Bitcoin Smashes All Time High On Expected Trump Victory - Fortune

The Bloomberg Billionaires Index estimated that the world’s 10 wealthiest people gained nearly $64 billion on Wednesday, the largest daily increase since the index began in 2012, The Guardian reports.

New York Times: “How he won in 2024 came down to one essential bet: that his grievances could meld with those of the MAGA movement, and then with the Republican Party, and then with more than half the country. His mug shot became a best-selling shirt. His criminal conviction inspired $100 million in donations in one day.

“Donald Trump’s allies and some in the private sector have been quietly preparing to detain and deport migrants residing in the United States on a large scale,” CNN reports. “And with the former president becoming the president-elect, those preparations are now expected to ramp up.”

John Burn-Murdoch: “Such a crushing defeat in this week’s US election is bound to elicit months if not years of soul-searching from Democrats. Did Biden hold on for too long? Should party officials have opted for a contested convention instead of parachuting Harris into the race? Has the party’s socially progressive turn alienated some Hispanic and Black men?” “The problem is, it’s entirely possible both that the answer to all three of those questions is ‘yes’, and that taking action to address them would not have produced a fundamentally different outcome.

“Donald Trump has vanquished the Bushes, the Clintons, the Bidens, the Obamas — and the entire establishment of both parties,” Axios reports. “Trump is stronger than ever, backed by a party wholly remade in his image and opposed by demoralized and defeated Democrats.” “Trump will come to power better organized, better staffed, and exponentially better positioned to dominate his party and the nation than he was last time.”

“Mortgage rates rose after President-elect Trump’s victory and are expected to stay higher for longer,” Axios reports.