Bitcoin soared to a new record high on Monday, beating expectations as it reached $81,899 post-election. The immediate aftermath of an election can be turbulent, but crypto has soared. Bitcoin has more than doubled since its low of $38,505 earlier in the year. On Sunday (November 10) Bitcoin was trading near $80,000 before it reached even higher on Monday – the first time it has been over $80,000. The upward momentum comes after Republican Donald Trump won the 2024 presidential election which will see him be sworn into office on January 20, 2025. The businessman has been extremely vocal about his support for the cryptocurrency industry throughout his campaign, during which he said “if you’re for crypto, you better vote for Trump.” He has also promised to make the US the ‘crypto capital’ and was often referred to as the ‘crypto candidate.’ Crypto industry insider declared election result as being a ‘huge win’ In mid-October, it was announced that a political action committee (PAC) had donated a mixture of cryptocurrency to support the business mogul’s presidential bid, with around $7.5 million having been raised.
Comment on Bitcoin breaks $81,000 following Trump’s election win
Sophie Atkinson, ReadWriteWeb
Mon, 11/11/2024 - 6:23am
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