Bitcoin soared to a record high above $81,000 on Monday, November 11, on expectations that cryptocurrencies will boom in a favourable regulatory environment following the election of Donald Trump as U.S. president and pro-crypto candidates to Congress, Reuters reports.
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 $81,572 having earlier touched a record high of $81,899.
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.
Other so-called ‘Trump trades’ – from U.S. stocks to shorting bonds have lost some steam since the election, but cryptocurrencies haven’t paused for breath.
