Bitcoin trades above $80,000; first time in history

Bitcoin, the world’s leading cryptocurrency, hit an all-time high, surging past $80,000 on Sunday, November 10. 

This milestone comes just days after the U.S. presidential election, where Republican candidate Donald Trump emerged victorious.

On Wednesday, Bitcoin surpassed the $75,000 mark, coinciding with Trump’s election win, driving optimism and momentum in the cryptocurrency market. Earlier today, Bitcoin gained over 5.24% in the past 24 hours, reaching $80,945.35 at 7:31 p.m. (GMT+1), according to CoinMarketCap, a leading crypto price-tracking platform.

The market rally extended beyond Bitcoin, as Ethereum, the second-largest cryptocurrency by market cap, rose by 4.64% to $3,220. The overall cryptocurrency market also reached a new record, with a total market capitalization of $2.65 trillion, marking a 2.20% increase and generating $157.07 billion in trading volume over 24 hours.

The Trump campaign has embraced crypto, allowing supporters to contribute via Bitcoin, Ether, and Dogecoin. Last month, the former president began promoting World Liberty Financial, a crypto project launched by his business associates, with the goal of raising $300 million through token sales to qualified investors, as reported by the Financial Times.

With Trump’s endorsement and integration of cryptocurrency into his campaign, Bitcoin’s latest surge may signal increased interest and potential growth in the crypto sector.