Bitcoin, the world’s most well-known cryptocurrency, has broken its previous record by surging past $75,000. The cryptocurrency hit $75,005.08 at around 0300 GMT surpassing the previous peak of $73,797.98 that it achieved back in March. Bitcoin’s market cap is also approaching $1.5 trillion. Other notable cryptocurrencies have also surged.
This milestone came soon after early US presidential election exit polls suggested a win for Donald Trump. Trump is perceived as a more crypto-friendly candidate compared to his opponent.
It seems investors are hopeful that Trump’s government will support cryptocurrencies. Although Trump has held different views about cryptocurrencies in the past, he has recently changed his views in favor of cryptocurrencies. He pledged to make the United States the “bitcoin and cryptocurrency capital of the world.”
Trump also has backing or Elon Musk who is known for putting his voice in support for cryptocurrencies. This is another major reason why crypto supporters have positive sentiments.
