Bitcoin rises to record high of $82,400 as Trump's election win turbocharges cryptos

Bitcoin soared to a record high above $82,000 on Monday on expectations that cryptocurrencies will boom in a favourable regulatory environment following the election of Donald Trump as U.S. president and of pro-crypto candidates to Congress.

Advertisment

1/38

2/38

3/38

4/38

5/38

6/38

7/38

8/38

9/38

10/38

11/38

12/38

13/38

14/38

15/38

16/38

17/38

18/38

19/38

20/38

21/38

22/38

23/38

24/38

25/38

26/38

27/38

28/38

29/38

30/38

31/38

32/38

33/38

34/38

35/38

36/38

37/38

38/38

The world's biggest and best-known cryptocurrency, has now more than doubled from the year's low of $38,505 and was last at $81,991, having earlier touched a record high of $82,413.

Trump embraced digital assets during his campaign, promising to make the United States the "crypto capital of the planet" and to accumulate a national stockpile of bitcoin.

While Simpson warned that Trump's near-term priorities are likely to lie elsewhere, crypto investors see an end to stepped-up scrutiny under U.S. Securities and Exchange Commission Chair Gary Gensler whom Trump has said he will fire.

The cryptocurrency industry spent more than $119 million backing pro-crypto congressional candidates, many of whom won their races.