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The Guardian - US
The Guardian - US
Technology
Lauren Aratani in New York

Bitcoin clears $93,000 and Dogecoin soars amid Trump-fueled crypto rally

Donald Trump DOGE Crypto Elon Musk Bitcoin X Joe Biden Vivek Ramaswamy Cryptocurrency FTX
a man in a suit speaks into a microphone
Donald Trump speaks at a Bitcoin event in Nashville, Tennessee, on 27 July 2024. Photograph: Kevin Wurm/Reuters

The price of bitcoin scaled a fresh all-time high on Wednesday, soaring above $93,000 as cryptocurrency investors continued to cheer the election victory of Donald Trump.

Dogecoin, a meme coin previously backed by Elon Musk, has risen as much as 150% in value since election day. It continued to rise after the president-elect announced that Musk and Vivek Ramaswamy would lead the so-called Department of Government Efficiency (Doge), a new outside advisory group.

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