Bitcoin hits record high, surpasses $75,000 on Trump’s White House victory
Bitcoin surged to a new all-time high on Wednesday, crossing the $75,000 mark as Donald Trump has sealed the race to White House after breaching the 270-majority mark of electoral votes. The leading cryptocurrency surpassed its previous high of $73,750, reflecting a strong positive response from the market.
Donald Trump clinched the White House after securing Wisconsin’s swing state and reaching a majority of 277 electoral votes, setting him up as the USA’s 47th President. The Republican also captured Pennsylvania, along with North Carolina and Georgia, and leads in Michigan.
At 5:20 pm IST, Bitcoin was trading 7.8% higher at $74,191. Ether also saw gains, rising 7.8% to $2,629. Trump’s perceived favorability toward cryptocurrencies compared to Harris have contributed to the market’s bullish sentiment.
«The most awaited US presidential election has come to an end with former US president Donald Trump coming back as the 47th US President. With this win, the crypto markets are likely to see a range of deregulations in the crypto space starting 2025, leading to higher adoption rate,» said Edul patel, CEO of Mudrex.
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