Bitcoin on Sunday hit a new record above $80,000. The world’s largest cryptocurrency surged in the run-up to Tuesday’s US presidential election, rose sharply immediately on election night after it became clear Donald Trump would win and has continued rising in the days since his victory.

LONDON: Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump’s return to the White House will be good for the cryptocurrency. The digital currency passed $80,000 for the first time in its history shortly after 12:00 pm (1200 GMT).

Trump’s current stance on crypto is a major departure from his last term as president. In the summer of 2019, Trump criticized cryptocurrency on social media, claiming it could be used to facilitate illegal activities. And during his presidency, the Trump administration’s regulatory actions included the SEC’s controversial lawsuit against Ripple.

Bitcoin is closing in on $80,000 for the first time, boosted by President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers.

Bitcoin on Sunday hit a new record above US$80,000. The world’s largest cryptocurrency surged in the run-up to Tuesday’s US presidential election, rose sharply immediately on election night after it became clear Donald Trump would win and has continued rising in the days since his victory.

Bitcoin rallied past $80,000 (€74,621) for the first time, boosted by US president-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers. The cryptocurrency climbed as much as 4.

Bitcoin rallied past $80,000 for the first time, boosted by President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers. The cryptocurrency climbed as much as 4.

Bitcoin soared past $80,000, reaching a new all-time high, fueled by expectations of favorable regulations under the new administration. President-elect Trump's pro-crypto stance and the Republican Party's strong performance in the election sparked a surge in investor confidence.