Bitcoin hits record above $75,000 as crypto industry celebrates Trump win
Bitcoin surged to a record high on Wednesday as crypto investors celebrated the election victory of Donald Trump, who has pledged to make the US “the bitcoin superpower of the world”.
The world’s biggest cryptocurrency rallied more than 7 per cent to an all-time high of $75,389 as Trump won the race to the White House. The milestone surpasses the previous peak of $73,803.25, set in March, and lifted the prices of a host of other cryptocurrencies.
Senior crypto executives welcomed Trump’s decisive victory and a potential Republican “clean sweep” of US Congress as a chance to shift attitudes towards the industry in Washington.
Trump positioned himself as the pro-cryptocurrency candidate, vowing to end the industry’s perceived “persecution”, and to secure more crypto-friendly legislation in the US.
Bitcoin’s rise boosted the share prices of other crypto tokens. The price of ether rose 10 per cent to $2,661, while solana surged 12 per cent to $185. The price of meme token Dogecoin, favoured by Trump backer Elon Musk, jumped as much as 30 per cent to 22 cents, before falling to 20 cents.
