As soon as it became apparent that Donald Trump was going to win the presidency, bitcoin’s price began to rally. A few hours before the Republican candidate declared victory, and with leads in all of the crucial swing states, the world’s most valuable cryptocurrency hit a new all-time high.
Reaching above $75,000 for the first time in its history, the cryptocurrency’s sudden surge came from Trump’s promise to support the crypto industry if elected. It marked a 50 per cent increase in bitcoin’s price since August, when Trump briefly lost ground to Kamala Harris in the polls.
