The price of Bitcoin (BTC) has risen above $76,000 U.S. and hit an all-time high following the U.S. presidential election win of Donald Trump.
Bitcoin hit an all-time high of $76,330 U.S. during a blistering rally in both crypto and stocks on news that Trump won a decisive victory in the U.S. election.
Other cryptocurrencies also rose sharply, with both Ethereum (ETH) and Solana (SOL) advancing more than 10% in the last 24-hours.
Bitcoin’s price has since pulled back and is currently trading at $74,900 U.S. However, investors are bullish on the largest cryptocurrency by market capitalization under a second Trump term.
Trump campaigned in support of cryptocurrencies and investors are betting on increased adoption and less regulation of digital assets in the coming years.
The latest rally in Bitcoin and new record high marks a big reversal for the cryptocurrency, which had spent the last eight months in a consolidation phase.
Bitcoin’s previous all-time high was reached in March of this year when it traded at just under $75,000 U.S. The crypto is now up 70% this year.
