Bitcoin’s price hit a record high on Sunday, November 10, following Donald Trump’s decisive victory in the US presidential elections.
As per several reports, Bitcoin rose 8%, reaching just above $80,000 before dipping slightly, surpassing its election night record of $75,000 and breaking the earlier record of $73,800 set in March.
Trump earlier promised to make the United States "the crypto capital of the planet.”
Meanwhile, other tokens and stocks of crypto companies have also seen a rise as Ethereum and Dogecoin have surged since the election, along with shares of Coinbase, Robinhood Markets and Microstrategy.
The crypto industry became the corporate donor in the 2024 election cycle.
Trump also promised “to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future.”
Not only this, Trump also earned endorsements from many crypto leaders, including billionaires Marc Andreessen, Cameron Winklevoss and Tyler Winklevoss.
Trump defeated Kamala Harris, who joined the race in July after Joe Biden ended his reelection effort after a poor debate performance against Trump in June.
Trump secured 301 electoral votes, while Harris secured 226, whereas a candidate needs total of 270 votes to gain victory.
