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Bitcoin Reaches $72,000: Five-Month High Driven by Election Anticipation

Bitcoin has soared to a five-month high, hitting a remarkable $72,308, driven primarily by the upcoming U.S. presidential election and a positive outlook for cryptocurrencies.

The price of Bitcoin has increased by more than 3%, marking its highest value since May 21. This surge brings Bitcoin’s gains in October to over 11%. Other significant cryptocurrencies also experienced upward momentum, with Ether climbing 4% to reach a ten-day high of $2,637, Binance Coin rising 2% to an eight-day high of $608, and Solana increasing 2% to a three-month high of $182. 

Additionally, shares of companies engaged in Bitcoin mining—an energy-intensive process that unlocks new bitcoins from the blockchain—have also risen significantly. Firms like Core Scientific, Marathon Digital, and Riot Platforms saw their stock prices increase by at least 15% in October.

Several key factors contribute to this remarkable rally. Foremost is the impending U.S. presidential election on November 5, where candidates Kamala Harris and Donald Trump are advocating policies that could lead to a dramatic increase in the national debt. Following the Federal Reserve’s interest rate cut last month, there are growing concerns among sceptics that current monetary policies may be insufficient to tackle inflation. This environment has led investors, including billionaire Paul Tudor Jones, to turn to Bitcoin and gold as hedges against inflation. Notably, gold prices also rose by 6% following the Fed’s rate cut on September 18.

Moreover, the increase in Bitcoin prices aligns with rising odds in the betting markets anticipating a Trump victory. Such an outcome could be favourable for the cryptocurrency market, as Trump has expressed support for pro-crypto policies and has proposed establishing a “strategic national Bitcoin reserve.”

Furthermore, the approval of spot Bitcoin trading funds by U.S. regulators in January has created additional momentum in the market, attracting billions of dollars from institutional investors.

The combination of political developments, market sentiment, and regulatory changes has propelled Bitcoin to new heights. As investors remain optimistic about the cryptocurrency’s future, the upcoming election and its implications for monetary policy will likely play a significant role in shaping market dynamics in the months to come.

AI Boom Reshapes Computer Science Enrollment At U.S. Universities

Enrollment Decline And The Rise Of AI-Focused Programs

This fall, University of California campuses recorded a noticeable shift as computer science enrollment declined for the first time since the dot-com era. According to recent reporting by the San Francisco Chronicle, overall enrollment across the UC system fell by 6% this year, following a 3% decrease in 2024, even as national college enrollment grew by 2% based on data from the National Student Clearinghouse Research Center. The contrast points to a cooling interest in traditional computer science degrees rather than a broader retreat from higher education.

China’s Strategic Embrace Of AI Literacy

While U.S. institutions are reassessing priorities, Chinese universities are rapidly embedding artificial intelligence into core curricula. The MIT Technology Review reports that nearly 60% of Chinese students and faculty use AI tools on a daily basis. Universities such as Zhejiang University have introduced mandatory AI coursework, and Tsinghua University has launched dedicated interdisciplinary AI colleges. In this environment, AI proficiency is evolving from a competitive advantage into a baseline academic expectation.

Emerging Trends In U.S. Higher Education

Across the United States, universities are moving quickly to modernize degree offerings with AI-centered programs. UC San Diego has introduced a dedicated AI major, while MIT’s “AI and Decision-Making” track has become one of its fastest-growing undergraduate options. The University of South Florida enrolled more than 3,000 students in its newly created AI and cybersecurity college, and the University at Buffalo opened an “AI and Society” department that attracted over 200 applicants before its official launch. These developments suggest a shift in focus rather than a decline in interest in technology overall.

Faculty Resistance And Parental Concern

Administrative leaders face internal challenges amid this transition. UNC Chapel Hill Chancellor Lee Roberts described a contentious environment where some faculty have embraced AI, while others are hesitant, resulting in significant debates. Recent administrative decisions, such as the merger of two schools into an AI-focused entity, have further intensified these discussions. At the same time, parents, once staunch advocates for traditional CS career paths, are now guiding their children toward majors perceived as less susceptible to AI automation, such as mechanical and electrical engineering.

Navigating A New Academic Landscape

Data from the Computing Research Association show that 62% of computing programs reported declines in undergraduate enrollment this fall. However, the surge in AI-focused programs suggests a broader migration rather than an outright exodus from the technology sector. Prestigious institutions, including the University of Southern California, Columbia University, Pace University, and New Mexico State University are set to launch new AI degrees, underscoring the global pivot toward this transformative technology.

As universities adapt to the accelerating influence of artificial intelligence, the central challenge is no longer whether to incorporate AI, but how quickly and effectively they can redesign academic pathways to match shifting student expectations and future labor market demands.

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