Business
Bitcoin Jumps 12% as Trump’s Election Odds Rise
Bitcoin has jumped 12% recently as Donald Trump’s odds of winning the presidential election have risen since mid-September. Many investors are excited about the idea of Trump, known for his support of cryptocurrencies, becoming president, believing it could benefit the crypto market. Currently, Bitcoin is trading at $66,857, close to its all-time high.
Trump’s odds hit a low on September 18 but have since improved, making him more favorable among bettors than Kamala Harris. Investor Stanley Druckenmiller noted that the market seems confident in a Trump win, which is also affecting bank stocks and cryptocurrencies. Analyst Gautam Chhugani predicted Bitcoin could reach $90,000 if Trump wins, as the election results could greatly impact the crypto industry.
However, while Trump’s betting odds have increased to 62%, recent polls show the election is still very close, with no clear favorite. This difference has led to speculation that a single large bettor may be trying to influence Trump’s odds by placing significant bets on platforms like Polymarket.
Nigerian Businessman Dr. Cosmos Maduka analyzes popular Billionaire, Aliko Dangote and describes him as the biggest debtor in Nigeria.
The businessman highlighted the fact that people who seem to have the most money are often the largest debtors.
“The number one debtor in Nigeria is Aliko Dangote. He’s the wealthiest man in Africa. The number one debtor in the world is the United States of America and you call them the richest in the world.”
“As you admire all of those things, it’s all credit. It’s all about credit. So you should leverage on loan, but you have to have a good structure that will support that loan.”
Dangote Petroleum Refinery has once again slashed the pump price of petrol across Nigeria, offering some relief to consumers. The new price now falls between N875 and N905 per litre, reflecting a N15 drop. This update was shared on the refinery’s official social media page on Thursday.
According to Dangote, the price cut affects major fuel distributors working with the refinery, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy. With this change, Lagos residents will now buy petrol at N875 per litre. Those in the South-South and South-East regions will pay N905, while the South-West sees a new rate of N885.
In the North-West and central parts of the country, it’s N895, and the North-East will also pay N905. Dangote added that their petrol and diesel are not only high-quality but also designed to support engine efficiency and reduce environmental impact.
Dangote Petroleum Refinery has lowered the price of Premium Motor Spirit (PMS), or petrol, to N825 per litre, down from N835, as competition heats up in Nigeria’s fuel market.
This follows last month’s price reduction, when the 650,000 barrels per day refinery dropped the price from N865 to N835. The recent price change is aimed at providing more value to customers while strengthening Dangote’s position as a leader in the domestic market.
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